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Learn if Ethereum will pump to US$2k, this possibility is uncertain as it depends on several factors
Intro: Ethereum or ETH is the second-largest cryptocurrency by market capitalization. The most feature-rich and interesting blockchain alongside Bitcoin and Dogecoin is popular in the crypto community. Like any cryptocurrency, Ethereum price prediction is highly speculative and depends on factors influencing market trends.
Ethereum is a great asset for investment with its apparent advancement potential. The crypto crash of 2022 has transformed the crypto industry including ETH, switching from proof-of-work to proof-of-stake mechanism. The volatile and unpredictable nature made the price prediction not so accurate as it is subject to a multitude of factors. The factors influencing ETH price are the adoption of dApps, market sentiment, smart contracts, etc. The question of whether ETH push to US$2k by the end of 2023 is valid because it is plausible considering various factors and proper research before an investment decision.
The real-time ETH price shows US$1,806.54. According to reports, the ETH price has a -0.86% decrease and drop as low as by May 16, 2023. ETH, the platform’s native currency has upgraded to Ethereum 2.0 in a process called the merge. It was the most popular and prominent Altcoin in the crypto market until 2022. The crypto crash of 2022 wiped out more than 60% of the cryptocurrency’s all-time high, lowering the price of ETH tokens from about US$4,800 to below US$1,500. But with the latest estimates, ETH tokens are facing ups and lows but proven by July 2023, the price is expected to reach US$2k. The tokens’ lost value after the merge is and bullish trend of the coin, it is more likely to be 10x in 2023. According to the technical analysis of ETH price in 2023, the minimum cost will be US$1.424.28 and the maximum price it can reach is US$1.860.17. The average trading price is expected around US$2,296.06. In the middle of the year 2023, ETH prices will be traded at US$1,999.80 on average. The price is fluctuating from month to month considering the token value and traded price. However, even though the price target of US$2,000 by the end of 2023 is possible, it is challenging to predict its certainty.