Ethereum cryptocurrency is predicted to grow to $ 2000 by the end of August

Members of the CoinMarketCap cryptocurrency community have voted to increase the price of Ethereum by the end of August. ETH began to «recover» after a long period of price decline — all thanks to the announcement of the exact date of the transition to the PoS consensus mechanism and the increase in the key rate range from the US Federal Reserve by 75 basis points at once.

According to the forecasts of 2685 users, ETH will trade at an average price of $ 2127 by the end of the summer. One of the reasons for such positive forecasts may be the high expectations for the upcoming update, after which the ethereum will switch to the Proof-of-Stake (PoS) algorithm. It is worth noting that in September, the crypto community expects even greater growth, with an average price of $ 2390. At the time of writing, ETH is trading at $ 1679.

Also, cryptocurrency analysts who participated in the NextAdvisor survey predicted an increase in Ethereum’s value to $ 4000 by the end of this year. According to analysts, Ethereum has every chance of costing more than 2.5 times more than its current value in the near future — all thanks to the transition to the PoS consensus mechanism. Earlier, Bloomberg analyst Mike McGlone also explained that due to the growing demand for ethereum and falling supply, the value of the ETH token will continue to grow.