The world’s second-largest crypto by market cap- Ethereum, topped by Bitcoin, has experienced its market surges over the last few years. As the year comes to a close, experts predict a rise in Ethereum market price, which might reach new levels above $2,000. Various factors will affect this bullish move and might also spill over to its altcoins.
Volatility in the crypto market is a major attribute for cryptocurrencies, and this has seen a rise and fall in market values of various crypto. Currently, experts are in talks about the ETH price, and market data have also confirmed this. However, the question remains on whether ETH’s price will coincide with expert future market predictions.
Ethereum is expected to rise to levels above $2,000
Ethereum’s price has consolidated around $1,750 and $1,820 levels over recent weeks. Based on on-chain data trends, institutional investors have been conducting a significant number of ETH transactions in the Ethereum network.
This has been the reason behind market experts’ prediction of Ethereum’s price reaching $2,500 in November 2023.
The US stock market, as well as its index funds, recorded negative outings as investors’ expectations fell short last week. Among the companies included in this pluming are Facebook (META) and Google/Alphabet (GOOG), as well as benchmark indices like S&P 500.
According to on-chain data, instructional investors sought to jump into Ethereum investment as a hedge against their bets following the wake of the US stock markets’ poor results.
Reports have recorded large Ethereum transactions of about 5,700 ETH on October 24. This was the largest transaction recorded since the end of the first quarter in March 2023.
