ETH Ethereum Price Prediction and Forecast: ETH goes down further

ETH Ethereum Price Prediction and Forecast: What led to Ethereum Crash?

The Crypto world has seen a major crash last few days. The crash was due to the collapse of the Chinese real estate market mainly due to the new of bankruptcy of China’s biggest real estate giant, Evergrande. Evergrande, a Chinese real-estate giant, holds more than $305 billion in liabilities.

Ethereum after having lost more than 5% over the last 2 days has somewhat recovered. ETH is still 20% lower than the weekly peak of $ 3652. However, the current momentum should pick up over the next 2 days when the China crisis stabilises.

ETHEREUM Bottom?

Ethereum Price Prediction and Forecast: Will Ethereum Crash?

Ethereum which was almost $4000 two weeks ago is now around $3000 after falling as low as $ 2500. The exchange rate of Ethereum has shown some sign of recovery over the last 24 hours.

JPMorgan global market strategist recently said that the fair value of Ethereum is around $1500 as the Ethereum network is less attractive.

“We look at the hashrate and the number of unique addresses to try to understand the value for ethereum. We’re struggling to go above $1,500.”

I HAVE LOST OVER 125,000 IN CRYPTO – ETHEREUM & BITCOIN CRASHING ON GLOBAL FEARS HOW LOW WILL IT GO?

ETH Ethereum Price Prediction and Forecast: Cathy Woods Positive about Ethereum Rise

Cathie Wood, the chief executive of Ark Invest puts her confidence behind Ethereum. She said that her confidence in Ethereum has gone up dramatically. She said,

“I’m fascinated with what’s going on in DeFi, which is collapsing the cost of the infrastructure for financial services in a way that I know that the traditional financial industry does not appreciate right now.”

 “Our confidence in ethereum has gone up dramatically as we’ve seen the beginning of this transition from proof-of-work to proof-of-stake.”

ETH Ethereum Price Prediction and Forecast: Ranking among the Cryptocurrencies

Using the stats of total volume sold and purchased, Coindesk ranks the Cryptocurrencies. A list of the 20 Best Cryptocurrencies is created and the list is updated quarterly. The list is based on dollar volume and other data from third-party cryptocurrency exchanges. For last quarter Bitcoin was top of the list. Ethereum on the other hand was able to maintain its 2nd position in the list.

Among all the cryptocurrencies, Ethereum dominates 19.51% of the market. Since its creation in 2013, the prices have risen to almost $4000 as of September 2021.

Ethereum Price Prediction and Forecast: What Changed for Ethereum Since July?

Ethereum and Bitcoin were on the verge of dropping in mid-July. However, the following cryptocurrency companies managed to swing the situation and changed the dynamics of the market. Since that period, the market for Ethereum has been very steady and also in the favour of the bulls. At the end of August, the market saw a 93% rally high in Ethereum and a 76% rally in Bitcoin.

The rally started hitting lows in July during the time of the “The B Word” seminar. Ark’s Cathie Wood, Tesla’s (TSLA) – Elon Musk, and Square’s (SQ) – Jack Dorsey were invited as the speakers at the conference. It will be safe to say that the aforementioned trio precisely saved Bitcoin and other cryptocurrencies, at least for now.

With Bitcoin still seeming to struggle with the $50,000 level, Ethereum shows the potential to grow further in the market. As of today, Ethereum is reportedly hitting its highest rally since May. Investors might think of going big for Ethereum.

Since the conference in July, Ethereum roistered a bullish run. Ethereum rallied in a total of 16 of 18 sessions after the mentioned conference. Ethereum experienced only 0.22% in July despite the decline that day. The following decline handed buyers a mega opportunity to buy more shares. However, Ethereum was seen struggling recently with the $3,300 level and the 61.8% retracement which was near $3,355.

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