Altcoin analyst Altcoin Gordon told over 400,000 X followers Friday that his year-end target for Ethereum is $11,250. That would be a 3.4X increase compared to current prices.
Bitcoin has received plenty of attention from the media since October between the SEC approval of Bitcoin ETFs in January and the upcoming fourth Bitcoin halving in April.
But an Ethereum ETF is also in the works this year, and the network has been deflationary in supply ever since a very significant upgrade in 2022.
Meanwhile, JP Morgan analysts are anticipating the Proto-Danksharding upgrade this year.
Altcoin Gordon is targeting an Ethereum price of $11,250 by the end of 2024. He also predicts $27 Cardano (ADA), $111 Chainlink (LINK), and $0.47 Ripple (XRP).
Think that’s crazy? Web3 super-user, educator, and angel investor, Defi Dad says he could see Ethereum “ripping to $20K- $25K” this market cycle.
His remark was in response to hiFramework founder Vance Spencer pointing out the “Ethereum onboarding funnel” in 2024 will feature a diverse set of applications, from Gaming L2s, to Corporate L2s, to Social L2s, to “All of the other (hundreds?) of L2s spitting out tokens to acquire users.”
Ethereum expert Anthony Sassano recently told Forbes why he’s bullish for Ethereum prices in 2024:
“I think 2024 is going to be a great year for the price of ETH as there are plenty of tailwinds headed ETH’s way, such as the birth of staking via EigenLayer, 2 major network upgrades—Dencun in March and Petra sometime in Q4—as well as spot ETH ETFs going live as early as May.”
In December, JP Morgan predicted that Ethereum would outperform Bitcoin in 2024 because of the EIP-4844 upgrade.
“We believe that next year Ethereum will reassert itself and recapture market share within the crypto ecosystem,” JPMorgan analysts wrote in a Dec. 13 report.