Cryptocurrency Ethereum has set a five-month record and may rise to new highs

A few days ago, the price of ETH $3,310.42 Bridged Ether (StarkGate) -0.85% Market capitalization $0.3 billion VOL. 24 hours $1.48 billion reached $ 1700, which hasn’t happened in five months. Cryptocurrency experts have predicted what investors should expect next and whether Ethereum will continue its growth.

An analysis of the ETH price chart showed that the token grew by 3.45% on February 17, reaching a peak of $ 1721. This means that the cryptocurrency is in a bullish trend, and its price may continue to rise in the future.

According to Santiment, the fact that major players in the crypto market are holding their ETH stocks indicates their expectation of further growth in the value of the digital asset. However, according to analysts, new factors may emerge in March that will affect the price of ethereum.

The next month will be important for Ethereum, as it is in March that the Shanghai testnet will be launched, the next major network upgrade after the transition to PoS. According to the ETH developers, the innovation will change the EVM format, add the ability to withdraw funds from the Beacon Chain, and reduce the commission to only level 2.

It is worth noting that despite the fall of cryptocurrencies after the collapse of the FTX exchange, the value of ethereum has been much more stable compared to other digital assets and has grown significantly since the beginning of 2023.

As for the future prospects of ETH, according to ChatGPT, the cryptocurrency’s value could reach $ 5,000 to $ 20,000 by 2030. «Ethereum is a highly volatile asset, and its price is subject to fluctuations based on a variety of factors such as market sentiment, adoption, network activity, and regulatory developments ,» the artificial intelligence wrote. However, the chatbot noted that the main altcoin is rightfully one of the most successful cryptocurrencies in the world, and its value has grown significantly over the past few years.