Ethereum, the second most popular cryptocurrency, can double its value within 7 weeks, according to MVRV measurements. However, Ethereum price reached an all-time high of $ 2,400 during the day. Although the price of ETH has already increased 3 times since the beginning of the year, according to experts, the upward trend may continue.
Measurements Show Where ETH Price Can Be Reached
While the Ethereum price was trading at $ 2,300 levels at the time of our report, the “realized price” value, which is defined as the average ETH purchase price, saw incredible levels. It has been observed that the ETH price calculated on the basis of the average purchase price of $ 802, which is the “realized price” value prepared by Glassnode, could increase 6 times. However, the MVRV measurement calculated by dividing current market value by actual supply also confirmed this possibility.
If the current uptrend of the popular coin continues, according to the MVRV measurement, the ETH price could reach $ 4,010 by the end of next month, with a 71% increase. In addition, the “realized price” value is expected to increase as more buyers enter the market. In this case, while the “realized price” value calculates the level of 1.014 dollars as the average purchase price, ETH can increase the price expectation up to 5.000 dollars.
Could Ethereum See $ 5,000 in a 7-Week Period?
This forecast stands out as a predictor that is likely to happen, especially when associated with the current bull run of Bitcoin and Ethereum. However, these measurements calculated with technical data should be taken into account especially when supported by the upward price trend. The claim that Ethereum, the second most popular cryptocurrency, can see levels of $ 5,000 in 1 month may sound crazy. However, it is worth noting that a year ago, the price of ETH today was $ 159. Finally, no forecast scenario is guaranteed.