Artificial Intelligence Predicts Ethereum Cryptocurrency to Fall After the New Year

A machine learning algorithm has predicted the value of the Ethereum cryptocurrency ETH $3,332.55 Bridged Ether (StarkGate) -1.24% Market capitalization $0.3 billion VOL. 24 hours $1.44 billion as of January 1, 2023. According to PricePredictions, it will be fixed at $ 1197.14. Thus, the algorithm predicts a 1.86% decline in the coin’s rate compared to the current ETH price. At the time of writing, the leading altcoin is worth $ 1,222.

The bearish forecasts for Ethereum came as the New York-based crypto exchange Paxful announced the removal of Ethereum from its platform. The exchange’s co-founder Ray Youssef said that ETH lacks decentralization due to its transition to the Proof-of-Stake (PoS) protocol. At the same time, payment giant Visa proposed an «account abstraction» system that uses smart contracts and can be deployed to facilitate automated payments on Ethereum.

We finally kicked #ethereum off our marketplace. 11.6m humans safer. Integrity over revenue ?? Who is next? pic.twitter.com/JTJXa5RYJ8

— Ray Youssef (@raypaxful) December 21, 2022

Recently, Bloomberg Intelligence senior strategist Mike McGlone called Ethereum the most promising token. According to the analyst, due to the historic transition from proof-of-work (PoW) to proof-of-stake (PoS), the cryptocurrency has a bright future. The expert is convinced that The Merge will reduce the negative impact of mining on the environment, reduce the rate of ETH issuance, thereby increasing its value.

Meanwhile, the PricePredictions algorithm has already predicted the price of the flagship cryptocurrency BTC $95,840.60 Bitcoin -0.94% Market capitalization $1.9 trillion VOL. 24 hours $2.39 billion on the last day of 2022. on December 31, bitcoin will be traded for $ 18,796. At the moment, the asset is worth $ 16,862.

As for Solana (SOL), the algorithm predicts a cryptocurrency rate of $ 12.81 on December 31. At the moment, SOL is worth $ 11.19. It should be added that the token of the same name of the blockchain network of Anantoliy Yakovenko is predicted to collapse soon. Crypto experts constantly draw attention to the overvalued SOL rate. Many of them believe that the coin has grown thanks to a pump-and-dump scheme involving the FTX cryptocurrency exchange, Alameda Research, and Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried. Experts are confident that Solana will not be able to recover after the collapse of Fried’s empire.