Cryptocurrencies have been the topic of discussion since their inception, and many known personalities believe in investing in them. They also give investors their outlook and share predictions about them.
Now, let’s talk about Ethereum, which is used worldwide due to its secure network, validated transitions, and sustainable ecosystem. According to YChart, as of September 2023, there are over 245 million distinct Ethereum wallets in use globally.
Scott Melker, a prominent cryptocurrency trader, author, and podcaster, has made a bold prediction for the future price of Ethereum. Melker forecasts that the value of Ethereum will reach $12, 000 in 2024. He believes that the growing interest among investors in decentralized finance and the increasing demand for smart contracts on the Ethereum blockchain will drive up the price.
Moreover, Melker anticipates that the upcoming merger between the Ethereum mainnet and Beacon Chain will significantly enhance the network’s scalability and security, making it more appealing to investors.
Lark Davis, a well-known crypto YouTuber, has also given his thoughts regarding the future of cryptocurrencies. Davis speculates that the cryptocurrency markets will surge in 2024. Davis’s predictions are grounded in several factors.
Firstly, he expects that the current parabolic growth of stock markets will result in more people having spare cash to invest in exchanges.
Secondly, he anticipates that Bitcoin ETFs may be approved by the SEC in Q1 of this year, which could significantly boost the value of Bitcoin and other exchanges.
Third, Davis points out that major corporations are increasingly adopting blockchain technology, which could drive up the interest and need for cryptocurrencies.
Ethereum started 2023 with a slow start and a value of $1196, and itself did even better than most, almost doubling its price since the outset of the year! It went from $1200 to a happy $2260, a whopping 99% increase.
In 2024 it is expected that Ethereum will surge to mark $3000 and this may be due to global macroeconomic conditions, increased security, and many other aspects.
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