These Ethereum price predictions by trading bots are data-driven and could come true in 2023.
Since it hit highs of $4800 back in November 2021, Ethereum has primarily been bearish, though it showed signs of a bullish reversal towards the end of March 2023. Despite the lack of buying momentum, Ethereum remains one of the most valuable cryptocurrencies. It is the second-largest cryptocurrency by market capitalization and still dominates the smart contracts market. The majority of tokens in the market today are Ethereum-based.
However, due to the bearish sentiment, some investors are unsure of whether Ethereum and cryptocurrencies, in general, are good investments today. While it would help to have a crystal ball, no one can predict where the cryptocurrency market could go next.
That said, there have been Ethereum price predictions that have turned out to be pretty accurate. However, when it comes to price predictions, trading bots are more precise than weird guesses of an individual. They rely on concrete price data and investor sentiment across multiple platforms.
To help you make an informed cryptocurrency investment decision, we have compiled a list of the top 10 Ethereum price predictions by trading bots for 2023.
More Institutions Will Launch Ethereum-based Services
The institutional uptake of cryptocurrencies is on the rise and is expected to get even bigger going into the future. Bots predict that Ethereum is one of the top cryptocurrencies likely to see a high institutional uptake, with many of them expected to build sophisticated solutions on top of Ethereum.
An Increase In False Ethereum Price Predictions
The cryptocurrency market is full of scammers who make money by purporting to have a crystal ball of where the market could go. That being said, there are many real-life influencers out there who in their overconfidence, can get the price wrong, too. Bots expect both scammers and overconfident influencers to increase in 2023. As an investor wondering how to invest in Ethereum, the best approach is to do your own research.
An Increase In Regulations
As cryptocurrencies become more popular, bots are predicting that regulations are inevitable. Governments want to protect investors from scammers, protect themselves from a loss of taxes, and catch money launderers.
Ethereum dominates the market in DeFi and NFTs, two markets that hold some of the hottest cryptocurrencies to buy today. These two markets are also most prone to criminal activity, which means Ethereum will likely be affected by regulations in 2023.
Ethereum Could Cross The $10k Mark
Ethereum has been bearish for months now, making such predictions a little far-fetched. However, cryptocurrencies have swung from losses to super bullish within weeks in the past. According to market analysis by trading bots, Ethereum has the potential to test $10k if it breaks through its last high of $4800. This would make Ethereum a top-performing large-cap cryptocurrency in 2023.
Don't Miss Our In-depth Ethereum (ETH) Price Predictions.
An Ethereum ETF Could Be Approved In 2023
In 2021, VanEck filed for an Ethereum ETF and then withdrew it. While this was not successful, cryptocurrencies, especially Ethereum, continue to gain favor with institutional investors. For this reason, bots predict an Ethereum ETF in 2023, one that could trigger a rally that makes Ethereum a top cryptocurrency to buy now.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum Will Become Deflationary
Ethereum was inflationary since its launch, but this changed in August 2021. When the London hard fork was done and turned Ethereum into a deflationary chain. Trading bots are predicting that once Eth2.0 goes live, the rate of token burn will accelerate. This will make Ethereum a top cryptocurrency to watch once bulls retake the market.
Ethereum Could Lose Market Share
Over the last couple of years, Ethereum competitors have shot up. In previous bull runs, these currencies have given investors a higher ROI than Ethereum. Based on their market data analysis, bots expect some of these Ethereum competitors to see accelerated growth in adoption in 2023. As such, they could eat into Ethereum’s market share over time.
Ethereum Will Give Many People Access To The Finance World
There is a huge portion of the world population that is still unbanked. DeFi is expected to be one of the new technologies that will give this portion of the world population access to DeFi. Ethereum is one of the cryptocurrencies that are leading the way in DeFi. As such, bots predict that Ethereum will remain one of the top DeFi cryptocurrencies in 2023.
Ethereum Is Expected To Remain Volatile
Cryptocurrency volatility remains high despite the growing adoption. Bots predict that Ethereum will remain volatile in 2023 but will likely keep edging higher over time.
Ethereum Will Scale Better
Ethereum is in the process of a transition from Proof-of-Work to Proof-of-Stake. Bots expect Ethereum to scale better once the transition is complete. They also predict that once the change is complete, Ethereum could emerge as one of the best performing cryptocurrencies in 2023.
Open an account with eToro, deposit some funds with USD, and finally – buy Ethereum from just $10.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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