According to prominent cryptocurrency analyst Dmitry Noskov from StormGain, Ethereum (ETH) is expected to experience significant growth by the end of 2023. Noskov predicts that the cryptocurrency market will continue to grow throughout the year, driven by the forthcoming Bitcoin halving in 2024.
He believes that Ethereum could reach a target price of $1800-$1900 and potentially break the psychological level of $2000. Noskov attributes this positive outlook to the excitement surrounding the potential approval of a Bitcoin spot exchange-traded fund (ETF), which has had a positive impact on other cryptocurrencies, including Ethereum.
ETH currently traded at $1,797 in the daily chart | Source: ETHUSDT on Tradingview.com
Other analysts have also expressed optimism about Ethereum’s price performance, with some predicting a year-end price of $2451, representing a 30% price surge from the current level. In the long term, experts forecast that Ethereum could reach $5845 by the end of 2025.
The successful upgrade to proof of stake and its efficiency and deflationary nature make Ethereum an attractive investment choice for both institutional and retail investors. As of the time of writing, Ethereum is trading around $1797 and is expected to rise further if it surpasses the resistance level at $1850.
Source: NEWSBTC
