Can ETH reach 4,000 again in 2024?
With a round of rise, the market is hot again. BTC is beginning to have a trend of hitting 70,000. ETH looks much weaker. So is it possible for ETH to hit the $4,000 position?
Let's look at the fundamentals first. The price of ETH this year will be affected by two things.
First, Vitalik Buterin announced the key technical improvement diagram of EHT, and suggested reducing the staking requirement by one ETH, so that more people can participate in the staking of ETH. The more people who stake, the more ETH they hold, the less circulation they will have, and the higher the price will be.
Second, on-chain data shows that whales are more optimistic about ETH. These big players control 44% of the ETH circulation, and when the price is currently low, big players are still constantly entering the market. Data shows that the amount of ETH entered by whales in the past 7 days has increased by 50%.
If the market recovers in 2024, ETH will have the hope of hitting the $4,000 position. Temporary weakness does not represent the trend in the next month.
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