The crypto market is not an easy market to predict. After all your investments could drop by more than 80% in bear markets.
But knowing that risk exists means we can take precautions and prepare ourselves accordingly. A masterful of cryptocurrency bull and bear markets can be quite profitable for crypto traders.
There is nothing that confirms this observation than Ethereum’s price action. From lows of under $100 in early 2020, Ethereum went on to make a new all-time high of $4800 in November 2021.
A correction followed in December 2021, and Ethereum has been in a sustained bear market for the better part of 2022.
With the global economy expected to enter a recession in 2023, the odds are that Ethereum prices could remain depressed for the better part of the year.
However, if more investors are under the impression that Ethereum has hit the bottom, then we could see a rebound in the course of the year.
It is on this premise that our Ethereum price prediction for 2022 stands at anything between $1500 to $2000.
There are a number of key factors that could give Ethereum such a boost. One of them is an upgrade to the Ethereum network.
Especially the transition to Ethereum 2.0. The merger is expected to happen in August 2022 and will have a number of implications for ETH.