Ethereum cryptocurrency predicted to fall by 23% by the New Year

According to information from Finbold, over the past three years, Ethereum has shown steady growth over the Christmas holidays — for example, on Christmas Day, December 25, 2021, the cryptocurrency rate was $ 4093.

According to crypto experts, this year, Ethereum ETH $3,256.22 Bridged Ether (StarkGate) -3.10% Market capitalization $0.29 billion VOL. 24 hours $1.21 billion will not keep the bullish trend — by December 25, 2022, the asset is predicted to fall to $ 915. At the time of writing, Ethereum is trading at $ 1227, which means that if the forecasts come true, the cryptocurrency will fall by more than 20% of its current value.

The upheaval in the cryptocurrency industry caused by Russia’s full-scale military invasion of Ukraine, the collapse of the Terra-LUNA ecosystem, as well as inflation and the recent bankruptcy of FTX, have made analysts skeptical that the crypto winter will leave the market. Indeed, since last Christmas, the price of Ethereum has fallen by 69%. The current value of the leading altcoin fell by 2.5% per day, however, over the past seven days, it still showed an increase of almost 3.8%.

As for bitcoin BTC $94,418.26 Bitcoin -2.91% Market capitalization $1.87 trillion VOL. 24 hours $1.93 billion , cryptocurrency analysts are divided. For example, an expert who correctly predicted the collapse of BTC in 2021 predicts a «Santa Claus rally» for the flagship cryptocurrency. «Dave Wave» recently suggested that BTC is likely to rise to $ 19,000, which is 11% more than the current level. At the time of writing, the bitcoin rate was fixed at $ 16,819, which is 1.1% lower than a day ago.

And while Dave Wave predicts a steady rally of BTC to $ 260,000 by 2026, Michael van de Poppe, for example, is more skeptical, predicting an inevitable drop in the bitcoin rate to $ 10,000. According to the expert, the industry crisis cannot pass too quickly. However, if market players manage to successfully overcome the turbulence, it will have a positive impact on everyone and the hard times will soon be over.