At current levels around $1,300, ETH, the native token of the smart contract-enabled Ethereum blockchain, was last up around 21% from its November lows under $1,100. The cryptocurrency, the world’s second-largest by market capitalization is an even more impressive nearly 50% up from its annual lows under $900. Does that mean investors have missed their opportunity to get in? Have all of the easy gains already been made?
Is It Too Late To Buy Ethereum?
ETH, otherwise known as Ether, might be around 50% up from its annual lows, but the cryptocurrency is still a staggering 70% down from the record highs it printed in the $4,800s back in early November 2021. In other words, Ethereum remains very much in the grips of the crypto winter, which was largely triggered by central bank tightening in 2022 from the likes of the US Federal Reserve in order to reign in surging inflation.
If you take the view that Ethereum will eventually move back to these record highs as 1) macro-economic conditions improve, 2) crypto adoption and development continues to grow and 3) the crypto regulatory landscape becomes clearer, paving the way for greater levels of institutional investment into the space, then no, it is not too late to buy Ethereum. Investors taking a long-term time horizon won’t be overly bothered whether they bought ETH at $800, $1000 or $1300 during the 2022 bear market, if Ethereum is above $5,000 in a few years.
The right question to be asking is whether now is the right time to buy ETH. Should an investor wait for new bear market lows to be printed? Or should they jump in now, so as not to miss out on further upside? ETH’s history of long-term price appreciation suggests the buy and hold strategy is likely to be more profitable in the long-run, even if that does mean investors having to stomach what could be a quite painful drawdown on their investment.
Crypto Traders/Experts Give Their ETH Views
Influential macro investor Raoul Pal outlined in a recent blog post that Ethereum appears to be following in the tracks of the 2017-2021 market cycle. Pal acknowledged that price analogs never work out perfectly, but that the similarities suggest that Ethereum could be close to having formed its post-2021 bull market bottom. The price analog suggests that Ethereum could move toward $6,000 by the end of 2024. If true, it is certainly not too late to buy ETH.
Elsewhere, Finder.com recently released an updated version of its Ethereum price prediction survey. According to a panel of 55 experts, Ethereum is likely to end the year at just under $1,400, before rising to over $5,000 by the end of 2025. A few experts explained that the cryptocurrency’s recent Merge from proof of work to proof of stake has transformed it into both a deflationary and yield-baring asset, which should increase its demand in the coming years and thus its price.
“Allround market pessimism driven by Fed’s actions and still locked ETH staking are the key factors holding back the price”, commented the CEO and co-founder or Osom Finance Anton Altement. “The former should disappear by December, latter by next spring – those 2 events will unlock the next legs of the rally,” he added.
According to Finder’s survey, Alexander Kuptsikevich, a senior analyst at FxPro, believes now is the time to buy ETH. “Ethereum has found itself in an area where it receives support from long-term investors,” he stated, adding that “crypto investors may remain cautious for a few more months or a couple of quarters, but we can expect an active bull market to return as soon as next year”.
Altcoins Offering Quicker Returns
Cryptocurrencies are still trading substantially lower versus their pre-FTX collapse levels, leading some traders to start looking at alternatives with more potential in the short term. Listed below are some of the leading presales in the market, allowing investors to get in on the ground floor.
Dash 2 Trade (D2T) – Presale Enters Final Stage
Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.
These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features.
Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates and sales recently surpassed $9.7 million. The pre-sale dashboard is going to be released on Friday, with the development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges in around one month.
Calvaria (RIA) – Final Presale Stage Now
Major blockchain-based games like Axie Infinity lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an up-and-coming play-to-earn battle card crypto game, could be a good alternative. Calvaria seeks to boost crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.
Investors should consider Calvaria’s RIA token pre-sale. Calvaria has now raised $2.44 million, with a crypto whale scooping up $97.5K in one purchase last week. The presale is in the final stage, with only 21% of tokens left.
RobotEra (TARO) is a Sandbox-style Metaverse that will enable gamers to play as robots and participate in the creation of its virtual world, including NFT-based land, buildings, and other in-game items. Due to launch in an alpha version in the first quarter of next year, it also plans to let players link up with other metaverses, in the process creating a multi-verse where NFTs from different platforms can interoperate.
1 TARO is currently selling for 0.020 USDT (it can be bought using either USDT or ETH), although this price will rise to $0.025 in the second stage of its presale. The project has now raised more than $545K in funds in the few weeks since the launch of the pre-sale.
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