Will Ethereum (ETH) break record highs in 2024?

Crypto analysts have been discussing whether ETH, which has attracted Wall Street’s attention with its spot Ethereum ETFs, will rise.

Analysts are divided on whether the ETH price will reach an all-time high (ATH) by the end of 2024. While many analysts do not expect ETH to rise due to “weakness,” there are also a large number of analysts who think the price will rise soon.

Although there is disagreement on #ETH price expectations, experts agree that Ethereum is lacking in social and technical terms.

Nick Forster, founder of crypto derivatives platform Derive and former Wall Street investor, told Cointelegraph: “Right now, Ethereum is struggling with a lack of a compelling narrative to drive its price, especially compared to other assets.”

Forster noted that spot Ethereum ETFs have attracted Wall Street attention, but that interest has put ETH in competition with more lucrative tech stocks.

ETH has only gained 1% since January 1, according to CoinGecko data. ETH, which is trading at $2,400, has underperformed U.S.-listed tech stocks.

Nvidia (NVDA) has gained 122.57% since the beginning of the year, while Meta (META) has gained 49.26%.

Analysts claiming that spot #Ethereum ETFs traded in the US are weak in competition, think that it is difficult for #ETH to exceed the ATH level of $ 4,878.

Arguing that the US elections are the “most important event” in #Ethereum history, Forster said: “There is an additional volatility increase with a potential movement of 10-15 percent on that day regarding the elections.”

Forster stated that the impact of the US elections will be greater than spot Ethereum ETFs.

Crypto analyst Titan of Crypto also stated that $ETH is preparing to rise.