Ethereum Price Prediction 2024: Latest Ethereum Price Ethereum Price Performance So Far Last 1 Month: -2.6% Last 12 months: +19.9% Since launch (2016): +54338.3% Eth Price Prediction: Latest Macro Data Dollar Index – DXY has been trending marginally lower over the last 6 days. [Positive for ETH] Crude Oil Price – Crude Oil Price has steadied over the last 3 days [Neutral for ETH] Usage Statistics DeFi TVL – Trending lower since April, Underperforming Competitors [Negative for ETH] NFT Sales Volume[30 Days] – Dropped by 36%, Trending lower but competitive [Positive for ETH] Latest Ethereum News As per the latest reports, Ethereum whales have been consistently selling their Ethereum (ETH) holdings, totaling over 5 million ETH, equivalent to about $8.5 billion. This ongoing selling trend, which began in February 2023, shows no signs of changing to buying ETH. Ethereum Buy Sell or Hold? Crowd Poll June 30th: +39.7% July 31st: +52.0% September 1st: +40.3% October 13th:+40.0% Ethereum Forecast 2024: Macro Environment in 2024. The global economic landscape for 2024 is expected to see a mix of optimism and caution. The ongoing war in Ukraine, combined with inflationary pressures, is likely to result in a slowdown in growth in 2024. The International Monetary Fund and the World Bank project global growth rates of 3.0% and 2.4%, respectively. Advanced economies are set to experience a sharper decline, and there are indications that the US might enter a recession. Interest rates in 2024 are set to play a significant role in the economic dynamics. The US Federal Reserve is projected to have a rate of 4.25%, the European Central Bank at 2.50%, the Bank of England at 3.00%, the Bank of Japan at 0.00%, and the Reserve Bank of India at 5.50%. Most of these are lower than 2023 and in response to the likely slowdown in 2024. The cut in rates is likely to result in higher Ethereum prices. Ethereum Price Prediction 2024, Aggregated Ethereum Price Prediction January 2024 is forecasted to range between $2410 and $2642 with an average price of $2553. Ethereum Price Prediction February 2024 is forecasted to range between $2474 and $2833 with an average price of $2732. Ethereum Price Prediction March 2024 is forecasted to range between $2495 and $2786 with an average price of $2623. Ethereum Price Prediction April 2024 is forecasted to range between $2538 and $2858 with an average price of $2661. Ethereum Price Prediction May 2024 is forecasted to range between $2577 and $2774 with an average price of $2672. Ethereum Price Prediction June 2024 is forecasted to range between $2604 and $3061 with an average price of $2689. Ethereum Price Prediction July 2024 is forecasted to range between $2604 and $2895 with an average price of $2719. Ethereum Price Prediction August 2024 is forecasted to range between $2635 and $3176 with an average price of $2854. Ethereum Price Prediction September 2024 is forecasted to range between $2649 and $3141 with an average price of $2867. Ethereum Price Prediction October 2024 is forecasted to range between $2701 and $3077 with an average price of $2795. Ethereum Price Prediction November 2024 is forecasted to range between $2736 and $3155 with an average price of $2878. Ethereum Price Prediction December 2024 is forecasted to range between $2798 and $3313 with an average price of $2939. Ethereum: Quick Summary Ethereum builds upon the Bitcoin Blockchain by incorporating advanced smart contract capabilities that Bitcoin lacks. It uses the ERC-20 standard for issuing fungible tokens, like the Shiba Inu cryptocurrency, and the ERC-721 standard for non-fungible tokens. Ethereum’s use cases include DAOs, Smart Contracts, the Metaverse, DeFi tokens, and DApps such as Uniswap. Competing blockchains include Solana, Cardano, and Polkadot. Ethereum’s value primarily stems from ERC-20 transactions, DeFi contracts, and NFT transactions. Historically, Ethereum experienced losses in 2018, 2019, and 2022, with the first two-loss years correlating with the Federal Reserve’s balance sheet reductions. Its gain years were 2017, 2020, and 2021. Ethereum Price Prediction 2023: Frequently Asked Questions What factors influence Ethereum Price Positively? Increased Liquidity Inclusion in mainstream ETFs Increase in Adoption (DeFi, NFT, Smart Contracts, etc) What factors influence Ethereum Price Negatively? Inflation and higher interest rates In-market issues like LUNA etc Losing Share in Blockchain Adoption to Other Layer-1 Blockchains Note: Crowdwisdom360 collates Predictions and data from all over the net. Please consult a registered investment advisor to guide you on your financial decisions.
Ethereum Price Prediction 2024
