Ethereum has seen a tremendous uptrend as prices soared high from $1,577.81 to $1,892.37 in the past 2 weeks. With a performance of 2.31% in 7 days, it might be a good idea to know whether the price of Ethereum will continue to go up or adjust lower. Will Ethereum price go higher? Let’s analyze in this Ethereum price prediction article.
Ethereum Price Analysis: Why is Ethereum UP?
Last week, rumors surfaced regarding the Bitcoin ETF approval, and Ethereum’s price trajectory has benefited from the speculative buzz. Despite the lack of confirmation, Ethereum’s prices have maintained a higher threshold, signaling renewed hope in the crypto market. The buying power alone was sufficient to propel prices upward. In the past month, Ethereum has seen a price increase of approximately 19.94%, with its market cap now standing at a robust $227.35 billion. Over the last 7 days, Ethereum has slight growth, with a 2.31% increase.
Is Ethereum Coin a Good Buy Today?
Ethereum lagged for quite a while, with prices consolidating for more than two months. The market witnessed a hard crash, with Ethereum reaching its lowest price of the year at $1,523.24. However, with the current market trend pointing upwards, it could be a strategic move to invest in Ethereum. The support price of $1,800 seems to be a strong foundation for ETH, suggesting that now might be an opportune time to buy.
Ethereum Price Prediction: Will Ethereum reach $2,000?
While it might be a bit too late for Ethereum’s prices to reach the all-time high price of $4,800 within the remaining two months of the year, positioning oneself around the support areas could be wise. With a potential target of $2,000 on the horizon, buying at current levels could be beneficial and bring in a hefty 5% return before 2024.
Where to Buy Ethereum?
Bitget stands out as a viable platform to purchase Ethereum. Known for its security and user-friendly interface, Bitget makes starting your cryptocurrency investment journey straightforward. To buy Ethereum on Bitget, simply create an account, complete the necessary KYC procedures, deposit funds, and execute your purchase.
What is Ethereum Coin?
Ethereum is more than just a cryptocurrency; it’s a platform for decentralized applications (DApps). It aims to create a decentralized suite of financial products that anyone in the world can freely access, regardless of nationality, ethnicity, or faith. This aspect makes the implications for those in some countries more compelling because those without state infrastructure and state identifications can get access to bank accounts, loans, insurance, or a variety of other financial products.