Will Ethereum price hit an all-time high in the next three months?
The price of Ethereum has been heavily influenced by Bitcoin price movements in recent weeks and has seen significant fluctuations. However, there is likely to be a significant increase in the coming weeks, which will result in Ethereum price It hit a new all-time high. The question is whether ETH can surpass $5,000.
How has the price of Ethereum moved in recent weeks?
The price of Ethereum has experienced significant volatility in recent weeks. At the end of January, the price of ETH was $2,200 and has seen a steady and rapid rise since then. In early March, it reached $4,000, less than 20% below its all-time high.
Over the next few weeks, the price of Ethereum fell below $3,200. ETH has since experienced a significant recovery above $3,600. Despite another slight decline, there has been further recovery in recent days with the price hovering between $3,400 and $3,500.
The current Ethereum price is $3,440.37, the 24-hour trading volume is $15.77 billion, the market capitalization is $413.09 billion, and the market dominance is 15.83%. In the last 24 hours, ETH has increased by 1.43%.
Ethereum achieved an all-time high, reaching a peak price of $4,867.17 on November 10, 2021. The lowest recorded price was $0.420897 on October 21, 2015. The lowest price observed since the last all-time high (ATH) was $897.01 (cycle low) and the highest price observed since the last cycle low was $4,094.18 (cycle high). Currently, the sentiment for the Ethereum price prediction is neutral, with the Fear and Greed Index reading at 76 (extreme greed).
Currently, Ethereum circulating volume is 120.07 million ETH. The annual supply inflation rate is -0.32%, which indicates that approximately -387,272 ETH were created last year.
What happens after Bitcoin halving?
Bitcoin halvings have historically had a positive impact on cryptocurrency markets. By reducing the supply of new Bitcoins, the effect of price increases is often delayed. This time, the halving is likely to trigger a surge in prices until the end of April.
If the price of Bitcoin experiences a significant rise and reaches new all-time highs, this could lead to a sharp rise in Ethereum and other altcoins after some delay. At this stage, you will see much larger percentage gains in ETH compared to BTC.
Will Ethereum price hit an all-time high in the next three months?
Ethereum price reached an all-time high of $4,891.70 on November 16, 2021. This all-time high is likely to be revisited in the next three months. There may be an extended period during which cryptocurrency prices can surge again following the halving.
According to recent trends and indicators, Ethereum (ETH) has seen significant growth, with its price rising 86% over the past year. This sustained upward movement is further supported by the fact that Ethereum is currently trading above its 200-day simple moving average, suggesting bullish sentiment in the market. Additionally, out of the last 30 trading days, Ethereum experienced 17 green days, accounting for 57% of the period, showing strong positive momentum. Moreover, Ethereum’s annual inflation rate is negative at -0.32%, which could potentially contribute to value retention and price appreciation over time. Considering these factors, Ethereum appears well-positioned for continued growth, and further price appreciation is likely in the near future, especially if market sentiment and demand remain positive.
It will be interesting to see if the Ethereum price rises similar to or faster than the Bitcoin price. Bitcoin has the advantage of a spot ETF that could attract significant capital inflows into BTC. The question is whether the price of Ethereum can also surge due to the hype. If so, Ethereum could potentially surpass $5,000 and hit a new all-time high within the next three months.
