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Breaking News: OG Bitcoin Whales Dumping Assets: Chart Reveals Significant Sell-Off Activity

Why These Experts Believe The Ethereum Price Could Soar to $5,000

Reynaldo Marquez
Reynaldo Marquez
Last Updated: October 12, 2022 4:30 pm
2 mins read
Ethereum price

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The Ethereum price has been trending to the downside after its successful implementation of “The Merge” and its transition to a Proof-of-Stake (PoS) consensus. Launched back in September on mainnet, ETH’s price has been losing bullish momentum since then.

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At the time of writing, the Ethereum price trades at $1,298 with sideways movement during today’s trading session and a 5% loss in the last 7 days. The second cryptocurrency by the market has been following the general sentiment in the market as the nascent asset class is pushed down due to macroeconomic factors.

Ethereum Price ETH ETHUSDT
ETH’s price moving sideways on the 4-hour chart. Source: ETHUSDT Tradingview

There Is Hope For The Ethereum Price, How Long Should You Hold ETH?

According to a survey conducted by Finder with 5 experts, the Ethereum price has limited bullish potential for 2022. The experts believe that this cryptocurrency will likely continue moving sideways for the rest of the year.

In tandem with current macroeconomic conditions, the Ethereum price will be limited by tightened financial conditions and liquidity. Thus, ETH is likely to stay at its current levels or rise by $1,360 to $1,377 by the end of 2022.

As seen below, the cryptocurrency might pick up its bullish momentum in 2023 and 2024. This would take ETH’s price from its current levels to its previous all-time high north of $4,000.

Ethereum price chart 2
Source: Finder

After that, Ethereum’s upside trajectory will be much steeper, according to the experts with a potential to reach a new all-time high in late 2024 or in early 2025. Over the next decade, the cryptocurrency could soar to $11,700, according to the most conservative experts.

Others believe the Ethereum price could climb to as much as $14,000, $23,300, and even $26,000 over the same time period. The experts believe that the U.S. Federal Reserve (Fed) and its interest rates hike program will be its biggest obstacle to future appreciation.

Ethereum price chart 3
Source: Finder

CEO and Co-Founder of Osom Finance, Anton Altement, stands among the bullish experts. He told Finder the following:

All round market pessimism driven by Fed’s actions and still locked ETH staking are the key factors holding back the price. Former should disappear by December, latter by next spring – those 2 events will unlock the next legs of the rally.

Can ETH Go Lower In 2022?

In that sense, the majority of experts claimed that the Ethereum price might find a bottom at around $1,000 to $900 in 2022. These might be good levels for long-term holders looking to profit for future appreciation.

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However, the Ethereum price is likely to remain limited as long as the U.S. Federal Reserve maintains its tightening agenda. The low ETH prices are, for 48% of respondents, an opportunity to buy cryptocurrency. Senior Analyst at FxPro, Alexander Kuptsikevich said:

Ethereum has found itself in an area where it receives support from long-term investors. Crypto investors may remain cautious for a few more months or a couple of quarters, but we can expect an active bull market to return as soon as next year.

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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