Amid a bullish momentum in the cryptocurrency sector, which has pushed its representative asset, Bitcoin (BTC), over the $50,000 price threshold, things have been going great for the largest altcoin by market capitalization – Ethereum (ETH) – and investors are wondering if five figures could be in store this year.
As it happens, the recent market optimism has pushed Ethereum closer to the psychologically important price level of $3,000, and breaking through this barrier could give it enough strength to continue further, possibly making a new all-time high (ATH) and perhaps even ending up in the $10,000 range.
Ethereum 30-day price chart. Source: Finbold
All things considered, Ethereum is in a great position to significantly increase its price in 2024 and perhaps even reach a new ATH. However, $10,000 might be overly optimistic for this year, and even an ETH bull like Dedic gives it a two-year window for five figures to enter the narrative.
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