{"id":28641,"date":"2024-09-06T13:05:28","date_gmt":"2024-09-06T10:05:28","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=28641"},"modified":"2024-09-06T12:03:16","modified_gmt":"2024-09-06T09:03:16","slug":"will-ethereum-eth-break-record-highs-in-2024","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/will-ethereum-eth-break-record-highs-in-2024\/","title":{"rendered":"Will Ethereum (ETH) Break Record Highs in 2024?"},"content":{"rendered":"

Cryptocurrency analysts have been debating whether Ethereum (ETH) could enter a bull market, especially now that spot Ethereum ETFs are grabbing the attention of Wall Street.<\/p>\n

The analysts are split on whether ETH<\/a> will reach a new all-time high (ATH) by the end of 2024. While some believe that Ethereum’s current “weakness” makes a significant price increase unlikely, many others expect a surge in value to begin soon.<\/p>\n

Despite differing opinions on ETH’s price potential, there is general agreement among experts that Ethereum is falling short both socially and technically.<\/p>\n

Nick Forster, founder of the cryptocurrency derivatives platform Derive and a former Wall Street investor, shared his thoughts with Cointelegraph:<\/p>\n

“At the moment, Ethereum is struggling with the lack of a strong narrative to drive its price, particularly when compared to other assets.”<\/p>\n

Ethereum (ETH) Struggles in the Competitive Landscape<\/strong><\/p>\n

Forster pointed out that while spot Ethereum ETFs have piqued Wall Street’s interest, this attention also puts ETH in direct competition with more lucrative tech stocks.<\/p>\n

According to CoinGecko data, Ethereum\u2019s price has only risen by 1% since the beginning of the year. Trading at around $2,400, ETH has underperformed compared to U.S.-listed tech stocks.<\/p>\n

You might also like: Bitcoin tumbles, but these altcoins are holding strong. Which ones are leading the pack?<\/p>\n

For instance, Nvidia (NVDA) has surged by 122.57% since the start of the year, while Meta (META) has gained 49.26%.<\/p>\n

Analysts arguing that U.S.-listed Ethereum ETFs are underwhelming in comparison think that it will be challenging for ETH to surpass its ATH of $4,878.<\/p>\n

U.S. Elections Could Play a Key Role for Ethereum (ETH)<\/strong><\/p>\n

Forster also suggested that the upcoming U.S. elections could be the “most significant event” in Ethereum’s history:<\/p>\n

“In relation to the elections, we could see an additional surge in volatility, with the potential for a 10-15% movement on that day.”<\/p>\n

He believes that the impact of the U.S. elections on Ethereum will be greater than that of spot Ethereum ETFs.<\/p>\n

Crypto analyst Titan of Crypto also indicated that ETH might be gearing up for a rally soon.<\/p>\n

You can share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019t forget to follow us on our\u00a0Telegram<\/strong>,<\/a>\u00a0YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a>.<\/em><\/p>\n

\n
<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency analysts have been debating whether Ethereum (ETH) could enter a bull market, especially now that spot Ethereum ETFs are grabbing the attention of Wall Street. The analysts are split on whether ETH will reach a new all-time high (ATH) by the end of 2024. 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