{"id":567138,"date":"2023-12-28T01:00:06","date_gmt":"2023-12-28T01:00:06","guid":{"rendered":"https:\/\/uniquehot.com\/?p=567138"},"modified":"2024-06-11T14:43:48","modified_gmt":"2024-06-11T14:43:48","slug":"ethereum-2024-forecast-analyst-predicts-major","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-2024-forecast-analyst-predicts-major\/","title":{"rendered":"Ethereum\u2019s 2024 Forecast: Analyst Predicts Major Surge Sparked By This Catalyst"},"content":{"rendered":"<p>As the crypto industry marches into 2024, Ethereum draws significant attention from analysts and investors alike. Amidst the swirling currents of the crypto market, Ethereum stands at the cusp of what some analysts are predicting to be a &#8216;<a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-bullish-outlook-analyst-predicts-surge\/\" target=\"_blank\" rel=\"noopener \">transformative period<\/a>.&#8217;<\/p>\n<p>This anticipation stems from two crucial developments: an impending network upgrade and the potential approval of Ethereum-based spot ETFs, according to renowned analyst CryptosRUs.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-bullish-outlook-analyst-predicts-surge\/\" target=\"_blank\" rel=\"noopener \">Ethereum\u2019s Bullish Outlook: Analyst Predicts Surge To Near $4,000 Levels By Early 2024<\/a><\/div>\n<h2>Catalysts For Growth: Upgrades And Spot ETF Approval<\/h2>\n<p>The Ethereum network is gearing up for its next major upgrade, slated for January 2024. This upgrade, known in the crypto community as the Dencun Upgrade, is expected to usher in a range of enhancements to boost network efficiency.<\/p>\n<p>Key among these improvements are features designed to shrink transaction fees on the Ethereum mainnet. This move could significantly ease <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-remains-bullish-gas-fees\/\" target=\"_blank\" rel=\"noopener \">congestion issues<\/a> that have long been a concern for users and developers.<\/p>\n<p>Additionally, modifications to smart contract operations and enhancements to staking protocols are on the cards, setting the stage for an optimized Ethereum ecosystem.<\/p>\n<p>According to CryptosRUs, the anticipated Dencun Upgrade is not the only factor fueling optimism for Ethereum&#8217;s growth in 2024. The analyst has further highlighted the potential impact of approving a spot exchange-traded fund (ETF) for Ethereum.<\/p>\n<p>Such a development could mark a pivotal moment for Ethereum, potentially driving widespread adoption and significant price appreciation. \u00a0The analyst points out that approving an Ethereum spot ETF could mirror the influence seen in other markets, substantially boosting investor confidence and market liquidity.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Over the past few weeks, we have seen rotations of capital through several crypto ecosystems, including <a href=\"https:\/\/twitter.com\/hashtag\/CosmosEcosystem?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#CosmosEcosystem<\/a> , <a href=\"https:\/\/twitter.com\/hashtag\/Solana?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Solana<\/a>, <a href=\"https:\/\/twitter.com\/hashtag\/Injective?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Injective<\/a>, <a href=\"https:\/\/twitter.com\/hashtag\/BRC20s?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#BRC20s<\/a>, and <a href=\"https:\/\/twitter.com\/hashtag\/Avalanche?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Avalanche<\/a>.<\/p>\n<p>In today&#8217;s <a href=\"https:\/\/twitter.com\/hashtag\/analysis?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#analysis<\/a>, I am going to explain why I believe Ethereum will be the next ecosystem to see explosive\u2026 <a href=\"https:\/\/t.co\/XdFxqzkbUP\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/XdFxqzkbUP<\/a><\/p>\n<p>\u2014 CryptosRUs Analysis (@CRUAnalysis) <a href=\"https:\/\/twitter.com\/CRUAnalysis\/status\/88069225?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">December 26, 2023<\/a><\/p><\/blockquote>\n<h2>Regulatory Hurdles And Ethereum Growth Trajectory<\/h2>\n<p>So far, the path to a spot ETF approval appears to be intertwined with regulatory processes. The US Securities and Exchange Commission (SEC) has been <a href=\"https:\/\/bitcoinist.com\/sec-bitcoin-ethereum-etfs-deadline\/\" target=\"_blank\" rel=\"noopener nofollow\">extending its timeline for decision-making<\/a> on both Bitcoin and Ethereum spot ETFs.<\/p>\n<p>With numerous applications pending, the crypto market awaits the SEC&#8217;s verdict, which is anticipated to <a href=\"https:\/\/uniquehot.com\/sponsored\/sec-delays-decision-on-several-ethereum-etfs-injective-inqubeta-aim-for-100-gains\/\" target=\"_blank\" rel=\"noopener \">arrive in 2024<\/a>. The SEC noted in a recent <a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/nysearca\/2023\/34-98947.pdf\" target=\"_blank\" rel=\"noopener nofollow\">filing<\/a>:<\/p>\n<blockquote><p>The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and issues raised therein.<\/p><\/blockquote>\n<p>Meanwhile, Ethereum&#8217;s performance continues to exhibit resilience and growth. Over the past year, Ethereum&#8217;s value has increased by 88.2%, with a continued <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-hints-at-potential-correction-buy-the-dip\/\" target=\"_blank\" rel=\"noopener \">upward trajectory<\/a> evident in recent trading periods. At the time of writing, ETH has experienced a 5.3% surge in the last 24 hours, <a href=\"https:\/\/uniquehot.com\/news\/ethereum-balancing-act-at-2300-scaling-the-heights-or-facing-a-looming-drop\/\" target=\"_blank\" rel=\"noopener \">trading at $2,346<\/a>.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/91aWgZTM\/\" alt=\"Ethereum (ETH) price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">Ethereum (ETH) price taps into order block on the 4-hour chart. Source: ETH\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3AETHUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>Furthermore, CryptosRUs analysis also extends to ETH, which has shown price movements analogous to Solana&#8217;s (SOL) recent surge. SOL&#8217;s value has soared by over 100% in the past month, leading the analyst to draw parallels with Ethereum&#8217;s potential price trajectory.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-hints-at-potential-correction-buy-the-dip\/\" target=\"_blank\" rel=\"noopener \">Ethereum Price Hints At Potential Correction, Buy The Dip?<\/a><\/div>\n<p>CryptosRUs suggest that ETH may exhibit a bull flag pattern as it heads into the upcoming upgrade and possibly spots ETF approval, mirroring Solana&#8217;s recent performance.<\/p>\n<p>Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the crypto industry marches into 2024, Ethereum draws significant attention from analysts and investors alike. Amidst the swirling currents of the crypto market, Ethereum stands at the cusp of what some analysts are predicting to be a &#8216;transformative period.&#8217; This anticipation stems from two crucial developments: an impending network upgrade and the potential approval of Ethereum-based spot ETFs, according to renowned analyst CryptosRUs. Related Reading: Ethereum\u2019s Bullish Outlook: Analyst Predicts Surge To Near $4,000 Levels By Early 2024 Catalysts For Growth: Upgrades And Spot ETF Approval The Ethereum network is gearing up for its next major upgrade, slated for January 2024. This upgrade, known in the crypto community as the Dencun Upgrade, is expected to usher in a range of enhancements to boost network efficiency. Key among these improvements are features designed to shrink transaction fees on the Ethereum mainnet. This move could significantly ease congestion issues that have long been a concern for users and developers. Additionally, modifications to smart contract operations and enhancements to staking protocols are on the cards, setting the stage for an optimized Ethereum ecosystem. According to CryptosRUs, the anticipated Dencun Upgrade is not the only factor fueling optimism for Ethereum&#8217;s growth in 2024. The analyst has further highlighted the potential impact of approving a spot exchange-traded fund (ETF) for Ethereum. Such a development could mark a pivotal moment for Ethereum, potentially driving widespread adoption and significant price appreciation. \u00a0The analyst points out that approving an Ethereum spot ETF could mirror the influence seen in other markets, substantially boosting investor confidence and market liquidity. Over the past few weeks, we have seen rotations of capital through several crypto ecosystems, including #CosmosEcosystem , #Solana, #Injective, #BRC20s, and #Avalanche. In today&#8217;s #analysis, I am going to explain why I believe Ethereum will be the next ecosystem to see explosive\u2026 pic.twitter.com\/XdFxqzkbUP \u2014 CryptosRUs Analysis (@CRUAnalysis) December 26, 2023 Regulatory Hurdles And Ethereum Growth Trajectory So far, the path to a spot ETF approval appears to be intertwined with regulatory processes. The US Securities and Exchange Commission (SEC) has been extending its timeline for decision-making on both Bitcoin and Ethereum spot ETFs. With numerous applications pending, the crypto market awaits the SEC&#8217;s verdict, which is anticipated to arrive in 2024. The SEC noted in a recent filing: The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and issues raised therein. Meanwhile, Ethereum&#8217;s performance continues to exhibit resilience and growth. Over the past year, Ethereum&#8217;s value has increased by 88.2%, with a continued upward trajectory evident in recent trading periods. At the time of writing, ETH has experienced a 5.3% surge in the last 24 hours, trading at $2,346. Furthermore, CryptosRUs analysis also extends to ETH, which has shown price movements analogous to Solana&#8217;s (SOL) recent surge. SOL&#8217;s value has soared by over 100% in the past month, leading the analyst to draw parallels with Ethereum&#8217;s potential price trajectory. Related Reading: Ethereum Price Hints At Potential Correction, Buy The Dip? CryptosRUs suggest that ETH may exhibit a bull flag pattern as it heads into the upcoming upgrade and possibly spots ETF approval, mirroring Solana&#8217;s recent performance. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":565452,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,6664,8323,1946,90999,84307,78803,12837,83626],"class_list":["post-567138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-crypto","tag-eth","tag-ethereum","tag-ethereum-analyst","tag-ethereum-prediction","tag-ethusdt","tag-sol","tag-solana"],"acf":[],"yoast_head":"\n<title>Ethereum 2024 Forecast: Analyst Predicts Major Surge Sparked By This Catalyst<\/title>\n<meta name=\"description\" content=\"As the crypto industry marches into 2024, Ethereum is drawing significant attention from analysts and investors alike. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. 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His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Ethereum 2024 Forecast: Analyst Predicts Major Surge Sparked By This Catalyst","description":"As the crypto industry marches into 2024, Ethereum is drawing significant attention from analysts and investors alike. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum\u2019s 2024 Forecast: Analyst Predicts Major Surge Sparked By This Catalyst","url":"http:\/\/uniquehot.com\/news\/ethereum-2024-forecast-analyst-predicts-major\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum-2024-forecast-analyst-predicts-major\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-Bullish-Outlook.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-Bullish-Outlook.jpg?fit=900%2C600"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","eth","ethereum","ethereum analyst","ethereum prediction","ethusdt","sol","solana"],"dateCreated":"2023-12-28T01:00:06Z","datePublished":"2023-12-28T01:00:06Z","dateModified":"2024-06-11T14:43:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum\\u2019s 2024 Forecast: Analyst Predicts Major Surge Sparked By This Catalyst\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum-2024-forecast-analyst-predicts-major\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum-2024-forecast-analyst-predicts-major\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Ethereum-Bullish-Outlook.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Ethereum-Bullish-Outlook.jpg?fit=900%2C600\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"eth\",\"ethereum\",\"ethereum analyst\",\"ethereum prediction\",\"ethusdt\",\"sol\",\"solana\"],\"dateCreated\":\"2023-12-28T01:00:06Z\",\"datePublished\":\"2023-12-28T01:00:06Z\",\"dateModified\":\"2024-06-11T14:43:48Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Ethereum-Bullish-Outlook.jpg?fit=900%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/567138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=567138"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/567138\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/565452"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=567138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=567138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=567138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}