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

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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.



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