Ethereum Price Prediction: Will ETH Price Reach Above $2000 After Shapella?

Since the beginning of 2023, Bitcoin, the world’s biggest cryptocurrency, has been on a rollercoaster ride, soaring over 70% in the first quarter. This outperforms other assets, such as actual gold and American equities.

ETH, on the other hand, has outperformed BTC in the last week, owing to the excitement around the planned Shanghai hard fork upgrade on April 12.

According to Inmortal, a pseudonymous crypto expert, ETH might increase by more than 170% from its current value of $1,875, setting a new all-time high.

ETH price chart. Source: TradingView

The price of Ethereum surged substantially in March, mirroring Bitcoin’s performance until reaching resistance around $1,930.

Investors are keeping a careful eye on Bitcoin and Ethereum as safe-haven assets in the event of a US financial crisis.

According to historical statistics, April is often a good month for cryptocurrencies such as Bitcoin and Ethereum, which may help investors have confidence in the crypto market. As a result, investors are bullish on the cryptocurrency market, forecasting fresh all-time highs in the coming weeks.

The long-awaited Shapella update for Ethereum is set to be live in the coming weeks. After the upgrade, a short-term sell-off event is anticipated, allowing stakeholders to withdraw their vested tokens from Ethereum’s proof-of-stake (PoS) smart contract.

While ETH’s dominance over other cryptocurrencies has grown in recent years, Ether’s bullish setup vs. Bitcoin is clear. Both Bitcoin and Ethereum have been stabilizing this week as the wider crypto market remains positive.

ETH.D. Source: TradingView

Considering everything, purchasing Ethereum must be a wise long-term investment. The majority of experts believe that ETH will rise in value. Nevertheless, the vast majority of long-term Ethereum price forecasts are bullish.

A bull run, according to Coincu’s price forecast, would most likely push the price of ETH past the $2,400 mark. Of course, we’ll have to revisit this following Shapella’s improvement.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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