- Ethereum might experience a dramatic crash, pushing its value down to $1,000.
- ETH unable to rise above $1,700, it could lead to a rapid downturn.
The price of Ethereum has been steadily increasing over the past few years, with its value currently hovering around the $1,639 mark. However, could it be possible for Ethereum to experience, a dramatic crash, pushing its value down to as low as $1,000? Technically speaking, it is certainly possible–here’s why.
It all comes down to supply and demand. Ethereum is a digital currency created using blockchain technology and is limited in supply; only 18 million coins are set to be released by its founders. This means that the total number of Ethereum available in the market will always be at most this amount.
On the other hand, there is no limit to how much money can be invested in it. Therefore, if more people buy into Ethereum than sell it, prices will rise; if more people sell than buy it, prices will fall.
Ethereum price Performance Over Last Few Weeks
In the past several weeks, Ethereum has experienced a highly impressive surge in its price. Having begun 2021 at just under $1,200, the cryptocurrency’s value has now rocketed to over $1,650 – an increase of more than 40% in just four to five weeks.
Such a steep incline has led some industry experts to speculate that Ethereum could rise as much as Bitcoin did in 2023, potentially bringing it on par with the world’s current most valuable cryptocurrency.
In the past few days, the steady increase of the price of gold has come to an abrupt halt. After hovering around the $1,650 mark for some time, it has now dipped below that figure, suggesting that if it is unable to rise above $1,700 in the near future, it could lead to a rapid downturn in its overall value. This would have far-reaching implications for traders and investors alike as they brace themselves for a possible market crash.
Will Ethereum Crash to $1,000?
In 2022, Ethereum endured yet another significant downturn in value, with prices dropping as low as $1,000 at certain points. This could be a sign of even more losses to come in the near future, potentially pushing the price below the $1,000 mark for good. If this occurs, it will mark a major milestone as it could be the last time Ethereum is valued at three digits.
It is hard to predict whether or not Ethereum price will experience another downturn, possibly back to the 500 dollar mark or close to it. However, the current level of stability Ethereum has achieved on the crypto market suggests that it is unlikely for its price to drop below the one thousand dollar threshold. This suggests that Ethereum should remain above this benchmark, even in a situation of economic hardship.
