The crypto market continues to confuse investors with its patternless price swings. The second largest cryptocurrency Ethereum is trading 61% below its all-time high of $4861. Investors are beginning to worry whether ETH, once considered one of the best investments in the entire crypto space, is losing its profitability.
However, there is good news for Ethereum backers as some traders’ price predictions back the token to be priced at $2.3k at the close of 2023, with some even more optimistic.
Another token attracting bullish momentum is Launchpad XYZ ($LPX), a project centred on building an advanced crypto and Web3 analytics platform. The $LPX token is quickly selling out as it has already raised over $800K in a few weeks.
Experts Reveal Bullish Ethereum Price Prediction Despite Recent Struggles
Ethereum reached its all-time high in November of 2021 before the ensuing crypto winter resulted in plummeting prices. Worse still, investors were concerned that the long-awaited Ethereum Merge did not result in any explosive surge for the token. ETH has been unable to float above the $2k level as the price trend remains bearish. However, experts believe that this pattern might change soon.
In a survey with the finance platform Finder, YouHolder CEO Ilya Volkov stated that the second largest crypto asset will peak at $2,600 in 2023. Volkov expects ETH prices to surge as the crypto market bounces back in the face of the improving global economy. Even a bearish prediction by Seasonal Tokens creator Ruadhan O expected ETH to hit $2.2k by the end of the year.
On the more bullish side, Michael van de Poppe, the founder of Eight Global and an expert crypto trader, predicted in April 2023 that ETH will likely hit $2.7K this year. Brushing aside the recent fluctuations as short-term trading, he urged investors to continue to long Ethereum. Overall, most expert traders agree that the token will likely hover at $2.3K at the end of 2023.
Despite the bullish predictions, Ethereum will likely continue to face major price swings. The token is still in the crosshairs of US regulators and lawmakers. SEC Chairman Gary Gensler continues to hint that ETH is a security and not a commodity. If he gets his way, it can lead to far more regulation than ETH enthusiasts are hoping for and can have an adverse impact on its growth.
Nevertheless, Ethereum is set to dominate the next crypto bull cycle. The shift to the Proof of Stake consensus mechanism has led to a deflationary token supply. With roughly $4.5 billion worth of ETH forecasted to be burnt this year, prices are expected to surge.
With major network upgrades coming later this year, some experts believe that Ethereum will be the driver of the crypto market, not Bitcoin. Indeed, while BTC plummeted 7% in May, Ethereum remained green over the same period.
Launchpad XYZ Presale Raises $800k as $LPX Token Attracts Bullish Backing
While experts may have a bullish prediction for Ethereum, investors continue to search for new alternatives that can provide significant gains. Launchpad XYZ is one such project that is seeing surging demands in its presale and bullish backing from traders, which people like YouTuber Crypto Gains predicting it could 100x.
The $LPX token has raised over $800k in a short period of a few weeks and is well on its way to raising over $1 million. Investors are particularly attracted to the platform’s real-world value as it may be the best crypto ecosystem for both crypto natives and newbies. The platform is designed for users who are looking for an all-in-one gateway to a wide variety of crypto services.
Launchpad also helps users to navigate the complexities and the volatility of the crypto market. Having trouble finding the next Pepe and Turbo before it explodes? Launchpad claims that its market insights will help traders be on top of the market. The platform’s Trading Edge tool uses sentiment analysis and crypto news to help traders make informed decisions. Beginners can also get to know the trading setup of expert investors.
Pro traders can take advantage of the sophisticated Terminal trading engine and gain an unbeatable edge by executing their trades at a blazing-fast speed. Launchpad also provides other exciting services such as its own decentralised exchange, NFT marketplace, Web3 wallet, a play-to-earn Metaverse gaming hub, etc.
The project puts a strong emphasis on offering learning opportunities for beginners through newsletters and market insights.
The $LPX presale is quickly selling out and investors have limited time to jump on the bandwagon early. Users can purchase the token through bank cards, or by swapping ETH or USDT.
DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. We may receive commission for clicking links in this article.