The crypto markets have been a massacre over the last couple of weeks. Buyers are filled with fear and panic, especially after crypto giants Bitcoin (BTC) and Ethereum (ETH) saw jaw-dropping losses.
Luckily, there seems to be light at the end of the dark tunnel after Ethereum’s price broke past $2,000 yesterday. Twitter user ‘IncomeSharks’ tweeted that “ETH caught the breakout, back above $2,000. Stop moved in profit, spot traders might hold and sell on a sign of weakness.”
In a follow-up tweet, Income Sharks added
The same user also posted that “BTC wants above $30,000 again too.”
Even though the last few weeks have been tough for Ethereum, many believe that the rest of 2022 will be much better for ETH. A recent Ethereum prediction by Bloomberg intelligence analyst Mike McGlone suggests that ETHs price could once again break $4,000 in 2022.
The news outlet Coinpedia sees an even brighter future for ETH and predicts that by the end of 2022 ETH could stand between $6,500 and $7,500 if the same bullish upswing started in the middle of 2022 were to continue.
Similarly, the Founder of Token Metrics Ian Balian predicts that ETH could make it to $8,000 by the end of 2022.
Most people believe that ETH’s price will see these numbers when it successfully transitions to Ethereum 2.0.
ETH’s price currently stands at $2,086.68 and is up 16.11% in the last 24 hours. ETH also saw a 24-hour trading volume of around $38.097,518,604.