Is it Too Late to Buy Ethereum? Crypto Experts Give Their ETH Price Predictions for 2023

 

Since
failing
to
break
above
early
November
resistance
in
the
$1,675
area
towards
the
end
of
last
week,

Ether
(ETH),
the
token
that
powers
the

Ethereum
blockchain,
has
been
in
consolidation
mode.
It
was
last
moving
sideways
in
the
$1,600s,
as
traders
monitor
upcoming
macro
drivers
including
US
Q4
2022
GDP
growth
figures
on
Thursday
and
December
Core
PCE
inflation
data
on
Friday.

Both
data
readings
could
impact
expectations
for
Fed
tightening
this
year,
which
could
impact
crypto

easing
expectations
for
Fed
tightening
as
a
result
of
evidence
of
slowing
US
inflation
and
growth

have
lifted
crypto
so
far
this
year.
Indeed,
despite
its
recent
consolidation,

Ethereum
is
still
trading
over
35%
higher
so
far
this
year,
meaning
the
world’s
second-largest
cryptocurrency
by
market
capitalization
is
on
course
for
its
best
monthly
performance
since
July
2022.

Where
Next
For
ETH?

Positive
macro
tailwinds,
as
well
as
optimism
about

Ethereum’s
upcoming
upgrade
that
will
allow
withdrawals
could
well
support
further
upside.
Indeed,
progress
towards
the
so-called
“Shanghai”
hard
fork
appears
to
be
going
smoothly

a
core
Ethereum
developer
just
announced
on
Twitter
that
developers
are
have
created
a
new
test-net
to
test
the
soon-to-be-released
staked
ETH
withdrawal
feature.

Meanwhile,
another
possible
tailwind
could
be
if
ETH
supply
conditions
remain
deflationary.
According
to
data
from

ultrasound.money,
ETH’s
annual
inflation
rate
fell
into
negative
territory
again
at
the
start
of
last
week
for
the
first
time
since
November.

A
break
above
the
$1,675
resistance
area
could
open
the
door
to
a
swift
rally
towards
the
next
major
resistance
zone
around
$1,790
and
then
the
summer
2020
highs
in
the
$2,030.

Experts
Give
Their
Price
Predictions

According
to
algorithm-powered
crypto
forecast
website

Wallet
Investor,
Ethereum
is
likely
to
trade
just
above
$700
in
one
year’s
time,
around
55%
lower
versus
current
levels.

Analysts
at
DigitalCoinPrice
aren’t
so
bearish.
Their
algorithm
predicts
Ethereum
ending
2023
at
around
$3,450,
an
impressive
more
than
100%
up
versus
current
levels.

Meanwhile,
according
to
a
recent
survey
of
55
fintech
experts
conducted
by
Finder.com,
Ethereum
is
expected
to
end
2025
at
$5,150
per
token,
before
eventually
rising
to
$11,700
in
2030.
CEO
and
co-founder
of
Osom
Finance,
Anton
Altement,
explained
that
he
is
bullish
on
ETH
because
last
year’s
Merge
has
turned
ETH
into
both
a
deflationary
and
a
yield-bearing
asset.

He
added
that
pessimism
driven
by
Fed
tightening
should
ease
in
2023,
while
concerns
about
still
locked
ETH
staking
will
also
soon
be
alleviated
by
the
upcoming
Shanghai
hard
fork
upgrade
expected
at
the
end
of
this
quarter.

Martin
Froehler,
CEO
of
Morpher,
also
outlined
a
bullish
viewpoint.
According
to
the
survey,
Foehler
expects
massive
institutional
demand
for
ETH
in
the
coming
years
as
a
result
of
the
cryptocurrency’s
positive
features.
These
include
ETH’s
yield
of
about
5%
via
staking,
its
eco-friendly
nature
post-Merge
from
proof
of
work,
the
fact
that
it
is
classified
as
a
commodity,
and
the
fact
that
ETH
has
a
regulated
futures
contract
on
the
CME
to
hedge
against
price
volatility.

Is
It
Too
Late
to
Buy
Ethereum?

If
the
above
bullish
forecast
are
correct,
it
certainly
isn’t
too
late.
Yes,
it
would
have
been
preferable
to
have
scooped
up
ETH
back
in
June
2022
when
it
bottomed
in
the
$800s
per
token.
But
if
you
are
a
long-term
investor
looking
to
hold
Ethereum
until
it
rallies
above
$10,000,
its
not
going
to
matter
to
much
whether
you
bought
at
$800
or
current
levels
in
the
$1,600s.

Ethereum
is
still
down
about
65%
from
its
record
highs
hit
in
late
2021
in
the
$4,800s.
So
far
in
Ethereum’s
history,
buying
it
when
it
is
still
65%
below
recent
record
highs
has
so
far
been
a
profitable
strategy,
even
if
investors
weren’t
able
to
catch
the
bottom.

Buy
Ethereum
Now

Ethereum
Alternatives

If
you’re
looking
for
other
high-potential
crypto
projects
alongside
ETH,
we’ve
reviewed
the
top
15
cryptocurrencies
for
2023,
as
analyzed
by
the

CryptoNews
Industry
Talk
team.The
list
is
updated
weekly
with
new
altcoins
and
ICO
projects.

Disclaimer:
The
Industry
Talk
section
features
insights
by
crypto
industry
players
and
is
not
a
part
of
the
editorial
content
of
Cryptonews.com.