Ethereum Price Surge To 5,000 dollars: When Will It Get There?

How has the Ethereum price moved in recent weeks?

In recent weeks, the Ethereum price has first seen a stronger rise and then a slight fall in the last week. However, the overall direction of the ETH price has been up so far this year. At the turn of the year, the ETH price was still at 2,250 dollars. We are currently at 2,450 dollars.

From TradingView - ETHUSD_2024-10-06 (1Y)

However, the Ethereum price has already reached 3,300 dollars in recent months. Since August, however, the price has fallen more sharply again after the Bitcoin price also suffered a sharp drop.

Could the Ethereum price explode again in 2024?

The Ethereum price has already performed well this year. The year 2024 could therefore be considered a successful year for the Ethereum token so far . The second year of a bear market usually brings a slight recovery from the heavy losses of the first year of the bear market.

However, the question remains as to whether the Ethereum price could rise again towards an all-time high and thus towards USD 5,000 in the coming weeks and months. Some analysts believe that the crypto market is still heavily undervalued at the moment.

However, it is unlikely that the Ethereum price will be able to rise to these levels this year. We will probably have to wait a few more months before we see extremely sharp rises in Ethereum again.

When will the price reach 5,000 dollars?

A new all-time high and a rise above the price of 5,000 dollars could happen very quickly if a bull market emerges again. This bull market has always occurred after the Bitcoin Halving, which triggers a supply shock in Bitcoin. As Bitcoin rises, Ethereum also rises sharply as a result.

The years 2025 and 2026 seem likely, especially since the Bitcoin Halving took place a few months ago, in April 2024. After that, the Ethereum price should skyrocket. If we think optimistically, the 5,000 dollar mark could fall as early as 2025.

By TradingView - ETHUSD_2024-10-06 (YTD)