Mid-January ETH Price Forecast: What's Next for Ethereum?

• Ethereum's Shift to Proof-of-Stake: A New Era of Environmental Sustainability
• Ethereum Price Forecast for Mid-January 2024
• Market Sentiment and Other Factors Influencing Ethereum's Price

Ethereum's Shift to Proof-of-Stake: A New Era of Environmental Sustainability

On September 15, 2022, the Ethereum$2,315 -2.42% network brought about a significant shift from the proof-of-work mining model to the proof-of-stake model. This revolutionary change has resulted in a 99.95% decrease in energy consumption, signifying a huge stride towards environmental sustainability in the blockchain industry.

Recently, Ethereum has shown substantial growth. The currency is currently trading at $2,296.73, with a 3.3% increase in value in the past 24 hours. Ethereum has seen a 75% increase in value on a year-to-year basis.

Ethereum Price Forecast for Mid-January 2024

The specialized cryptocurrency analysts at Changelly have predicted Ethereum's price for mid-January 2024. According to their forecast, the price of Ethereum is expected to reach a minimum of $2,221 and a maximum of $2,439. The average price of Ethereum is projected to be around $2,330.

Market Sentiment and Other Factors Influencing Ethereum's Price

Various factors can drastically impact the price of Ethereum, with market sentiment being one of them. For instance, the eagerly-awaited verdict of the SEC on Bitcoin$42,260 -0.64% ETF approval could potentially instigate a market push. However, if the market trends continue to be bullish, Ethereum's price could see a significant rise.

Edited by Jonathan Stoker