Unveiling Crypto Market Insights: ETH below 2023 yearly high
GM market enthusiasts!
The year 2024 started off eventfully, and we are delighted to be back posting our thoughts about the markets. Today, we are examining the ETH/USD daily chart.
As ETH is situated just below the 2023 yearly high, we took a look at some tailwinds and headwinds for/against ETH in 2024.
Tailwinds we observed include:
- The expected release of EIP-4844 in the second half of the year
- The impact of potential deflationary nature
- The effects of potential ETH ETF
On the other hand, headwinds include:
- The potential migration of fee-sensitive users to Solana and alternative L1s and L2s
- Concerns about centralization
- Projects like DyDx and Sushiswap making the leap to alternative chains, citing slow transaction speeds on Ethereum
We welcome you to share your views regarding positive and negative drivers that could affect ETH performance.
Do you think ETH will break out anytime soon? Where do you think ETH will close at the year-end?
Share your thoughts in the comments.
The year 2024 started off eventfully, and we are delighted to be back posting our thoughts about the markets. Today, we are examining the ETH/USD daily chart.
As ETH is situated just below the 2023 yearly high, we took a look at some tailwinds and headwinds for/against ETH in 2024.
Tailwinds we observed include:
- The expected release of EIP-4844 in the second half of the year
- The impact of potential deflationary nature
- The effects of potential ETH ETF
On the other hand, headwinds include:
- The potential migration of fee-sensitive users to Solana and alternative L1s and L2s
- Concerns about centralization
- Projects like DyDx and Sushiswap making the leap to alternative chains, citing slow transaction speeds on Ethereum
We welcome you to share your views regarding positive and negative drivers that could affect ETH performance.
Do you think ETH will break out anytime soon? Where do you think ETH will close at the year-end?
Share your thoughts in the comments.
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This post does not offer personal investment advice or recommendations. Bitstamp accepts no responsibility for any damage or loss from the utilization of the information presented here.
This post does not offer personal investment advice or recommendations. Bitstamp accepts no responsibility for any damage or loss from the utilization of the information presented here.