What influences the Ethereum price?
Today, Ethereum is one of the most stable cryptocurrencies on the market. Its transactions and operations are in high demand. However, there are a number of factors that determine whether a coin will rise or fall in value. The exchange rate is influenced by:
- Demand and the supply of the coin in the market.
- Information field around the coin – social media, media coverage, attitude of opinion leaders towards the coin.
- The competitive environment in the market.
Ethereum buying and trading
The year 2022 will undoubtedly be an interesting year for the market of cryptocurrency buying. Interest rate forecasts are mixed, which makes things more interesting and encourages users to keep an eye on the market. ETH is currently showing excellent performance. And this trend is likely to continue throughout the year. Despite all the instability of cryptocurrencies, their volatility, and dependence on various factors, Ethereum is not giving in on its price or the number of users it attracts – investors, traders, and miners. For this reason, it attracts the interest of the crypto community.
Scenarios for the bitcoin price
There are two scenarios for Bitcoin in 2022. The first one is a very volatile apartment. In this case, the price will move in a very wide channel, whose lower edge will be around $30,000 and whose upper edge will be around $65,000.
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The second is the scenario with the collapse of the historical high. The price is in an uptrend, and the next time it touches the upper edge of the figure, it will rise to the $100k area. In this case, the 2022 low should not be below $40k.
Solana has a chance to grow more than Bitcoin
Growth in Solana, which will lead to a cryptocurrency bitcoin to solana exchange, will contribute to the technical development of the project, which in principle can bring the price of the coin to levels above $ 6 thousand already in June 2022, said the co-founder of ENCRY Foundation. By the end of 2022, Ether has the chance to grow more than Bitcoin. Such an opportunity is opening up thanks to:
- Burgeoning field of decentralized finance, which uses the Ethereum blockchain for applications;
- Completing a major upgrade of the ETH 2.0 network with a full transition to stacking.
The CEO of Xena Financial Systems stated that the price of Ethereum could rise to $10,000 in the next year. For Ethereum, the news is moderately positive, and investors’ expectations are also quite optimistic. The experts at Overview of Cryptocurrencies also state that as of June 2022, no major shocks are expected in the next 6 months, but there could be periods of high volatility as the cryptocurrency approaches its planned transition to the PoS model.
Ether has a good chance of holding up better than Bitcoin even in a situation where the pressure on the market from Germany increases significantly. While the expected low for Bitcoin is about 40-45% below the current low, Ethereum could prove to be more stable and stay at least 20-30% below today’s price without taking into account local “dips”. Accordingly, the most negative expectations are around 2.8-2.9 thousand dollars, while the most positive expectations are around 10 thousand dollars.
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