Ethereum (ETH) After falling to $879 in June, multiple failed attempts to reach highs above $2,000 have presented a difficult time for the 2022 bear market to recover. However, the current bullish green candle could point to Ethereum gaining support from a triangle pattern as outlined on Wednesday. article.
Ethereum is currently trading at $1,197 as investors contemplate which cryptocurrencies to include in their 2023 portfolios.
At this point, Ethereum price needs proof to investors Analysts seem to have conflicting forecasts for 2023, with some predicting a flat trend , some are most bullish on Ethereum price above $4,000 by the end of 2023.
Ethereum Price Prediction: $10,000 ETH Coming In?
Ethereum is a well-known blockchain platform that has revolutionized the cryptocurrency space with the introduction of smart contracts since its launch in 2015. Smart contracts have allowed developers to offer blockchain as a service (baas), build decentralized applications, and enable NFTs.
The utility of the second largest cryptocurrency continues to grow exponentially, especially with the move to Proof of Stake (PoS) consensus mechanisms. According to the author of “Cryptocurrency investment for dummiesKiana Daniel, Ethereum’s value can be attributed to the problems it solves.
“Ethereum is valuable because of the problems it solves, the size of its platform, and the number of people using it to create their own apps.”
It’s hard to visualize just how vast the Ethereum ecosystem is until you learn that the blockchain platform holds over 44 million smart contracts. Electric Capital founder Emre says that 70% of his approximately 15 million active contracts were created as his one copy of 15 major templates.
About 22 million contracts have been scrapped over the years to save gas. However, gas will not be an issue in the future once Ethereum becomes his PoS platform. The Shanghai upgrade, scheduled for Q1 2023, will introduce mechanisms to lower gas prices and support scaling with sharding technology.
Over 1 million smart contracts have been deployed to sell NFTs. ERC-20 contracts were not aggregated with the 44 million contracts due to the high variance, but there are approximately 400,000 contracts.
Ethereum reached over 202 million unique addresses this week, according to. EtherscanTransactions on the blockchain often average around 1.2 million per day, with occasional spikes.
The above stats show the value of the Ethereum platform, confirming its potential to surge to $10,000. There is no doubt that ETH’s position in the cryptocurrency market is unmatched.
In 2021, Goldman Sachs, a major US investment bank, predicted that Ethereum could overtake Bitcoin (BTC) and become the world’s most dominant cryptocurrency in the next few years.
Goldman Sachs said at the time that “Ethereum, the native digital currency, is the most popular development platform for smart contract applications, so Ether now looks like the cryptocurrency with the most potential for real-world use.” increase.
According to the bank, Bitcoin has brand and awareness, but it lacks when it comes to the actual use cases that power Ether. Additionally, Bitcoin’s notoriously slow transaction speeds may make it less competitive in the future.
What does it take for the price of Ethereum to reach $10,000?
Since the 2021 bull market, Ethereum price faces a steep hill that it must climb to break free from the shackles of the dominant bears. Reaching $10,000 in 12 months seems almost impossible, but anything is possible in the crypto industry.
At the moment, we expect Ethereum price to rise above $1,200 and then the 50-day EMA. Additionally, Ether is down more than 75% from his November 2021 all-time high of $4,878. That means it needs a 700% bull move to push Ethereum to his $10,000 mark.
The near impossible is not impossible if you notice the careful choice of words. Recall that ETH in the past he recorded profits well over 700%. In 2017, the price of Ethereum skyrocketed him over 9,300%, while in 2016 the token made a profit of 784% of his.
Combined with the dynamics of the crypto environment, the current macro landscape looks very different from what it will be in 2021 or 2017. But let’s consider that the price of Ethereum rises against all odds and he could reach $10,000 for the first time.
First, it needs to restore investor confidence after the collapse of Sam Bankman-Fried’s FTX exchange. As the inflow of funds into cryptocurrencies and related products increases, we may see a sustained upward trend not only in Ether but also in other crypto assets.
The US needs to avoid a recession in 2023 at best to help restore investor confidence. This is not enough and the US needs to get inflation under control heading into the new year.
Stakeholders in the cryptocurrency market must do their part by fostering growth to create an environment in which the price of Ethereum can skyrocket. Shanghai’s upgrade in Q1 2023 could mark the beginning of a trend reversal as investors get access to staked ETH for the first time.
Ethereum’s next big step is to move to sharding, which developers hope will greatly improve the network’s scalability and capacity. Sharding also makes Ethereum more competitive and significantly reduces transaction fees.
Other Altcoins to Consider
The crypto market is generally on a downward trend, as it has been for much of 2022. Following the collapse of the FTX exchange, it may take longer for the market to turn around. Investors are probably looking to diversify their cryptocurrency portfolios. Listed here are some altcoins coming to the market with a fresh outlook. A pre-sale offering early access could be the key to recovering the losses suffered during the crypto winter.
Fight Out (FGHT)
A relatively new cryptocurrency project working to bridge the gap between physical and Web3 language in the fitness industry. FightOut brings a new perspective to the Move-to-Earn (M2E) platform, empowering everyone to benefit and live a healthier lifestyle with personalized goals, needs and abilities. increase.
The team is looking forward to launching an M2E fitness app for tracking progress and distributing rewards. Unlike existing platforms like Sweat Coin and STEPN that require expensive NFT purchases, FightOut lays the groundwork for everyone.
After official launch, FightOut will buy a chain of physical gyms around the world, allowing users to grow within a community of like-minded people. All completed workouts and challenges are rewarded.
A simple digital avatar allows users to access the metaverse using provided Web3 tools such as NFT. The ultimate goal is to engage her vast Web2 audience into her M2E space and metaverse.
FightOut’s FGHT tokens are priced at 60.06 per USDT, and interested investors are encouraged to act quickly before the tokens are all scooped up. In presales, he has raised $2.44 million so far. FightOut’s ecosystem is powered by his FGHT token.
Dash 2 Trade (D2T)
Investors interested in promising cryptocurrency projects that provide accurate analysis and signals for everyday traders may consider dash 2 tradeThis blockchain platform will give users access to on-chain data trading signals and social analytics that can help them get the most out of the market.
Dash 2 Trade is powered by Learn2Trade, a renowned investment ecosystem that has helped thousands of people become successful traders over the years. The social trading dashboard allows users to copy winning trade signals and strategies.
Investors interested in pre-sale tokens will find a home at Dash 2 Trade as the platform launches a pre-sale section for cryptocurrencies. Score evaluation is used to ensure that investors do not lose money and only consider quality presales.
D2T is the token that powers the Dash 2 Trade ecosystem. With $11.31 million raised, the pre-sale is nearing the finish line. An investor has purchased 1 D2T token for $0.0533 ahead of his first CEX listing on Jan. 11.
C+ Charge (CCHG)
Current electric vehicle (EV) charging systems have problems such as lack of standardization. Meanwhile, the carbon credit industry, projected to be worth $2.44 trillion by 2027, is dominated by big companies like Tesla, crowding out individuals driving EVs.
But C+Charge is taking the story dramatically by building a blockchain-based peer-to-peer (P2P) payment system for EV charging stations that allows electric vehicle (EV) drivers to earn carbon credits. hope to change.
C+Charge users can pay to charge their cars with CCHG, the token that powers the ecosystem, and earn carbon credits stored in the app. Pre-sales for C+Charge recently launched, raising $37,000 so far. An investor can buy 1 CCHG for him at 0.013 USDT, but the price quickly jumps to $0.0165 USDT.