Crypto Community Predicted Ether Price For April 30, 2023 – Historical Accuracy Of 90%

By Selena 04/13/23 5:25 PM

According to the votes of 1,654 people, the crypto community at CoinMarketCap expects that Ether price will trade at an average price of $1,721 (-13.43%) -$267 on April 30.

ETH end of April price estimation | Source: CoinMarketCap

During the last six months, the community has had a 90% historical accuracy in predicting the price of Ethereum, with the most recent forecast in March having an accurate estimate of 87.36%.

ETH’s last 6-month price accuracy | Source: CoinMarketCap

In the previous 24 hours, Ethereum reached a high of $1,990. ETH is currently trading at $1,999, a 6% increase on the day, with a total market value of $239 billion.

ETH/USD 4-hour chart | Source: TradingView

According to crypto expert Michael van de Poppe, ‘Ethereum is going for it,’ The next level of resistance might be as high as $2,020.

#Ethereum is going for it. pic.twitter.com/7RfTUbctqY

— Michaël van de Poppe (@CryptoMichNL) April 13, 2023

With Ether’s price reaching $2,000 today, Bloomberg Intelligence senior macro strategist Mike McGlone shared his thoughts on what this could imply for the cryptocurrency market. He believes it might indicate the revival of a bull market or the maturation of bearish bounces before a downward trend. Based on the current economic context, in which US bank deposits are dropping at the highest rate since 1971, the expert says he prefers the second alternative. He suggests that expecting the banking crisis to end while the Fed tightens policy is unreasonable.

According to experts, while Ethereum’s increase above $2,000 may appear to be a positive development, it is vital to analyze the broader economic backdrop. The prolonged banking crisis and the Fed’s tightening efforts could stymie long-term market expansion. Nevertheless, Ether price has hovered around $2,000 since dipping below $1,000 in June, just before the switch to proof-of-stake in the fall of 2022.

Furthermore, McGlone indicates that if risky assets are nearing their peak, markets may be only beginning to adjust to deflation, usually during a recession. He observes that the Federal Reserve may never again weaken as easily as it has in the past and that extended deflation may be the inverse reaction.

Ethereum’s technical analysis (TA) on TradingView’s 1-day gauges is extremely positive; its summary corresponds to the strong buy mood at 17, with oscillators indicating a ‘buy’ at 3 and moving averages (MA) indicating a strong buy at 14.

ETH 1-day TA chart | Source: TradingView

The latest Shapella upgrade has catapulted the Ether price toward $2,000, fuelling investors’ optimism that the cryptocurrency’s boom will continue. ETH has increased by more than 60% since the beginning of 2023, and crypto traders anticipate that the price will recapture this level and continue its upward path.

On April 12, the DeFi asset dropped as low as $1,841 before bouncing back and rising to its highest price since May 2022 at $1,990 on April 13. Despite this great return and Ethereum’s general bullish tendency, the Ethereum community at CoinMarketCap is still pessimistic about the asset’s prospects at the month’s conclusion. While the future performance of the DeFi asset is unknown, Ethereum’s overall upward trend suggests that growth will continue shortly.

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