In an environment where the crypto market is trending upwards, Ethereum (ETH), the largest altcoin by market value, is attracting significant interest from investors expecting a major price increase. Investors are evaluating the possibility of ETH reaching the $10,000 level within this year.
Ethereum’s $10,000 Forecast and the Factors Supporting This Prediction
With Bitcoin (BTC) recently surpassing the $50,000 threshold, Ethereum investors are curious whether the largest altcoin can potentially reach five-digit figures by the end of the year, as they await the crossing of the psychologically important $3,000 level.
The recent market optimism is bringing ETH close to the $3,000 mark, and investors are anticipating a breakthrough that could further drive up the price. According to market experts, surpassing this barrier will not only pave the way for ETH to reach its all-time high (ATH) but also set the stage for a potential rise towards the $10,000 threshold.
One of the fundamental factors contributing to Ethereum’s bullish outlook is the upcoming release of Proto-Danksharding, as highlighted by Simon Dedic, CEO of Blockchain consulting and investment firm Moonrock Capital. Known as EIP-4844, Proto-Danksharding is set to introduce a new transaction type that could significantly impact Ethereum network’s performance and scalability.
Furthermore, Ethereum is poised to benefit from a potential approval of a spot exchange-traded fund (ETF) by the United States Securities and Exchange Commission (SEC). If approved, this could lead to a significant influx of funds into the Ethereum ecosystem, potentially accelerating the rise in ETH’s price.
Dedic also pointed out the impact of re-staking protocols like EigenLayer on Ethereum’s supply dynamics. These developments are expected to reduce the circulating supply of ETH, thereby increasing scarcity and potentially driving up the price over time.
Some Analysts Doubt ETH Will Reach $10,000 This Year
Despite the optimistic outlook, some analysts warn that ETH reaching $10,000 this year may be an overly ambitious forecast that might not materialize.
While Ethereum is currently trading at $2,912 and showing consistent gains over different time frames such as the last 7 days and 30 days, reaching five-digit figures might take longer than even the bullish predictions suggest.
