Bitcoin’s halving, which is expected to happen on April 20, 2020, has been pushed back. Watcher.Guru’s Active tracking. Crypto community abuzz about potential impacts on various digital asset following event.
The coin that has attracted the most attention among collectors is Ethereum (ETH), which is the second most valuable cryptocurrency by capitalization. After the halving, many enthusiasts and investors wonder if ETH can reach its previous high of $4.891.70.
Bitcoin halves, which occur approximately every four to five years, have historically stimulated significant growth on the cryptocurrency markets. It reduces by 50% the rewards for new Bitcoin block mining, thus reducing the amount of Bitcoins that enter circulation.
In many cases, a surge in Bitcoin’s price is the result of a reduction in Bitcoin’s supply combined with a stable or rising demand. The broader cryptocurrency market has been positively affected, as well as altcoins such Ethereum.
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Changelly Predicts a Significant Price Rise for ETH
Recent analysis conducted by ChangellyEthereum, according to a leading cryptocurrency data provider could reach $3,171.61 just one day before the 2024 election. Bitcoin halving.
Changelly’s forecast is also more optimistic in the long term. By June 2025, ETH is expected to reach $4.964.07. This will surpass the previous record set for the crypto and be a world-record.
Changelly also shared their thoughts on the potential trajectory of Ethereum’s price in April 2024.
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These experts predict that the average ETH price in April 2024 will be $3,139.16 based on the fluctuation of prices observed at the start of 2023. These experts also gave a range between ETH’s lowest and highest prices of $3,088.52 – $3,189.79.
This still indicates a substantial upside potential for Ethereum over the course of this year. As Bitcoin’s halving approach and as market sentiment continues to be bullish, some believe that ETH has a good chance of benefiting from this anticipated growth.
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Source: watcher.guru
