Ethereum's Meteoric Rise: Analyst Sees Potential 786% Gain To $20,000 In 2024
Portfolio Pulse from Bibhu Pattnaik
Crypto analyst CrediBULL Crypto predicts Ethereum (ETH) could reach $10,000 to $20,000 in 2024, representing a 343% to 786% increase from its current price of $2,244.18. The prediction is supported by data from Santiment showing significant accumulation of ETH by whale investors, with the top 150 self-custody wallets holding a record 56.25 million ETH. Exchange wallets hold 9.46 million ETH, the lowest since June 2018, indicating a preference for self-custody among large holders.
January 06, 2024 | 3:16 pm
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Ethereum (ETH) is predicted to potentially surge to $10,000-$20,000 in 2024, which would be a significant increase from its current price of $2,244.18. The prediction is backed by whale accumulation data, suggesting strong investor confidence.
The analyst's prediction of a substantial price increase for Ethereum is based on current accumulation trends by large investors, which is typically a bullish signal. However, the crypto market is highly volatile and unpredictable, which is why the confidence score is not at the maximum.
CONFIDENCE 70
IMPORTANCE 90
RELEVANCE 100