“Experts are trying to predict how much Ethereum (ETH) will be worth in the months leading up to the Bitcoin Halving event in the second quarter of 2024.”
As we approach the Bitcoin Halving in the second quarter of 2024, it’s worth keeping an eye on the Ethereum price forecast. Ethereum is the second-largest cryptocurrency, and its performance could influence the entire crypto market.
Bitcoin Halving Impact on ETH?
Before the Bitcoin Halving in May 2020, the price of Ethereum (ETH) didn’t go up much and mostly stayed at lower values. It wasn’t until right around the Halving that it saw a significant increase. Analyst Benjamin Cowen believes that the second part of the year leading up to the Halving might not be great for Ethereum.
He predicts that overall, Ethereum’s price might go down during this time, although there could be some positive moments.
Cowen thinks that by the end of 2023, Ethereum’s price could be lower than it was at the start of the year, which was $1,195. According to his forecast, Ethereum’s price might drop to less than $1,400 by October 2023. This suggests that Ethereum might not see big changes in its price until the Bitcoin Halving event.
Despite being quite volatile, Ethereum had been holding around 20% of the total crypto market value since late 2021.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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