Ethereum’s outlook for 2024 suggests potential growth to $4,000, driven by bullish catalysts such as spot Bitcoin ETF approval, the Dencun (sharding) update, and spot Ethereum ETF decisions.
2024 Fundamental Outlook: Ethereum Growth Anticipated
Ethereum price recovery from the crash of December 2021 to May 2022 is expected to continue in 2024.
Bullish sentiment is tied to the anticipated approval of spot Bitcoin ETFs. Over a dozen investment fund managers, including BlackRock and Fidelity, have applied for ETFs. Grayscale’s win in a lawsuit against the SEC boosts confidence.
Ethereum is expected to fulfill its role as “Silver to BTC‘s Gold” as Bitcoin rallies. The approval of spot Bitcoin ETFs is seen as setting a precedent for Ethereum spot ETFs.
Ethereum founder Vitalik Buterin discusses the future stages of Ethereum, including The Surge, which involves the introduction of sharding. Sharding is a scalability solution aiming to improve transaction processing and smart contract execution.
Despite bullish catalysts, the lack of institutional investors’ interest might act as a barrier to reaching $4,000.
The Surge after the Merge
The Ethereum Community Conference in Paris discussed the future stages of Ethereum, starting with The Surge, which introduces sharding.
Sharding is a scalability solution splitting the network into smaller chains called shards to enhance transaction processing capacity.
Ethereum founder Vitalik Buterin outlines the next stages as The Verge, The Purge, and The Splurge, emphasizing the network’s ongoing development.
Investors are advised to monitor key events, including ETF decisions and Ethereum’s developmental milestones, to gauge the trajectory of Ethereum’s price in 2024.
