The cryptocurrency market is again showing signs of recovery, with most of its assets trading in the green – both in their daily and weekly charts – including one of its largest tokens – Ethereum (ETH), leading the crypto community to predict its further improvement by the end of October.
As it happens, community votes from CoinMarketCap predicted that the Ethereum token would trade at a median price of $1,578 on October 31, 2022, according to the latest data retrieved using the tool » Price Estimates” from the platform on September 27.
Notably, the crypto community’s predictions for the price of Ethereum, the result of data analysis from the platform’s “Price Estimates” tool, are as follows 2,244 votes castindicates an increase of $186.89 or 13.34% from its current price which, at press time, was $1,391.65.
As for the forecast for the end of November, it is slightly less bullish, currently standing at $1,565.99 by 1,104 votes cast, which would represent an increase of $174.34 or 12.53 % of the current decentralized finance (DeFi) token price.
Ethereum Price Analysis
With several exceptions, Ethereum has been on a downward trajectory year-to-date, losing nearly 63% of its price from $3.722 on Jan. 1, 2022 to its current state, according to data from CoinMarketCap.
As it stands, Ethereum price is up 6.98% on the day, as well as gaining 3.26% over the previous week. The total market capitalization of the second largest token according to this indicator stands at $387.96 billion.
Interest in selling ETH grows, JPMorgan ‘concerned’
Meanwhile, Google search interest in selling Ethereum has risen 16% over the past year, while investor interest in selling Bitcoin (BTC) has hit an all-time low. 12-month level, as reported by Theinquirer.
Meanwhile, banking giant JPMorgan Chase (NYSE: JPM) has raised concerns about the future of the network after the recent Merge upgrade that officially marked the blockchain’s transition from the validation algorithm to Proof of Work (PoW) to that of Proof of Stake (PoS).
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Crypto Community Predicts Bullish Price For Ethereum By End Of October 2022 – The Inquirer 🇫🇷
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