After Bitcoin (BTC) finally surpassed the $31,000 price level, the cryptocurrency market seems to be moving in a more positive direction, including Ethereum (ETH), for which machine learning algorithms and important technology trends suggest more success in the next couple of years.
As it happens, the self-learning machine algorithm on the crypto tracking platform CoinCodex has suggested that the second-largest cryptocurrency by market capitalization would grow its price by 11.22% by the end of the year and trade at $2,173.70 on December 31, 2023, as per data on July 4.
Moreover, should it follow the same growth pattern as that of the internet, the platform indicates that the price of Ethereum by the end of 2024 could reach $2,783.73, a 42.43% gain from its price at press time. Imitating the growth of mobile tech could lead it to $2,736.92, an increase of 40.04%.
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At the same time, if the digital asset follows the path of Google (NASDAQ: GOOGL), it could increase its price by 108.18% and end up at $4,068.82. Mimicking Facebook’s (NASDAQ: META) expansion could see Ethereum reach a price of $8,218.92 by the year’s end, gaining 320.52%.
Meanwhile, by the same logic, ETH could imitate the internet and reach the price of $ 3,593.79 by the end of 2025, increasing by 83.88% from press time, or $3,503.53 (+79.26%) if it followed the behavior and the expansion process of mobile technologies.
Furthermore, keeping the same movements as Google, Ethereum is looking at $6,350.62 or +224.93% by the end of 2025, whereas following the trend of Facebook could lead it to a whopping $18,232, or a price increase of 832.84% during the same period.
Ethereum price analysis
As things stand, Ethereum is currently changing hands at the price of $1,954.46, which represents a slight loss of 0.41% in the last 24 hours but still indicates an advance of 4.70% across the previous seven days, as well as growing 2.88% over the month, as the latest charts suggest.
In conclusion, whether Ethereum is truly capable of reaching any of the prices projected by the machine learning algorithm and important tech trends will depend on the further developments around the token, such as the upcoming Dencun upgrade, as well as the overall atmosphere in the crypto sector.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
