Cryptocurrency expert predicts Ethereum rate growth to $ 2000

After a challenging and turbulent 2022 — a period of significant cryptocurrency volatility, sharp exchange rate drops, and prolonged uncertainty — the digital asset market experienced a significant recovery in 2023. Moreover, the situation for Ethereum may become even better, according to the well-known crypto analyst Michael van de Poppe.

As the expert wrote in his tweet on May 24, «the second largest cryptocurrency broke above the key resistance level of $ 1,825, and the defense of this zone is likely to lead to another big jump in ETH to the $ 2,000 mark.»

#Ethereum broke above the crucial $ 1,825 area.

As long as that holds, and buyers are stepping in, I expect a rally towards $ 2,000. pic.twitter.com/VlK7t1iAk0

— Michaël van de Poppe (@CryptoMichNL) May 23, 2023

This year, ETH has already boasted of such achievements — thanks to the long-awaited Shapella update, the ethereum was trading for $ 2,130. In the same period, BTC crossed the psychological threshold of $ 30,000 for the first time since June 2022.

In addition, this year’s surge in Ethereum prices was also driven by the recovery of the crypto market after a serious downturn in 2022. Over the past six months, cryptocurrency prices have shown growth despite forecasts of US Federal Reserve interest rates and the recent crisis in the traditional banking sector.

According to CoinMarketaCap, at the time of writing, the leading altcoin is worth $ 1,786, which is 1.67% lower than yesterday. The market capitalization of the asset is $ 214.5 billion, and traders made daily trading deals worth $ 6.9 billion.

Finbold analysts note that since the beginning of 2023, the price of ETH has increased by more than 51%. Experts also asked the AI on the Price Predictions platform about the altcoin’s price as of June 1, 2023. The algorithm set the price of ethereum at $ 1792.