Several market assets have been trying to reach new peaks over the past month. While Bitcoin (BTC) registered an all-time high earlier this month, assets like Ethereum (ETH) struggled. Certain investors were hoping that the asset could at least reach $4,000. However, a few ambitious members were betting on ETH hitting $5,000. Amidst this, an analyst revealed the potential scenario for the asset by the end of the year.
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Ethereum’s Current Price
At press time, Ethereum, the second largest cryptocurrency in the market, was priced at $3,694, with a daily price drop of over 1.78%. ETH is currently trading 24% below its all-time high of $4,891. The altcoin will have to surge by 35% to reach $5,000.
This isn’t a huge number for the Ethereum market. Throughout the past month, the asset surged by over 16%. But the chances of it rising to $5,000 were rather bleak. Analyst Pentoshi revealed to his 830,900 followers that Ether “is having structural changes as well as the beginning of consistent and large ETF flows.” The trader pointed out that ETH had its “highest weekly close of the year.” Pentoshi believes that it may retest its peak sooner than most traders think.
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December End Price Prediction
While there are several conjectures about the potential price of Ethereum, the asset will fail to push past the $4,000 zone. According to data from CoinCodex, the altcoin will trade at around $3,816 towards the end of the month.
The firm’s forecast for the month lingers around a range between $3,655.93 and $3,816.32. Assuming the average price of $3,726.52 for December, this would mean that the price of ETH rose by 0.92% compared to today’s values. If ETH fulfills the forecast, investors may potentially make a profit of 3.35%.
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