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Etherum (ETH) as of January 1, 2023. Against the background of the instability of the virtual asset market, we were interested to understand how the price of the second digital asset will behave in terms of market capitalization.
Dmitry Noskov, an expert of the StormGain crypto exchange, expressed his opinion on this topic. The specialist assured that the ETH rate as of January 1 next year is unlikely to differ much from current levels. The crypto-winter in the digital asset market continues and is likely to last at least until the spring of 2023.
The analyst noted: improvement of the market situation is possible only under certain circumstances. It was about easing monetary policy on the part of the US Federal Reserve System (FRS), and this is unlikely to happen before March-April 2023.
The expert expressed the point of view that in case of negative scenarios, the whole next year will be a crisis for the crypto market. So, most likely, the Ethereum exchange rate at the beginning of January will be slightly above the $ 1300 mark.
As of 14:00 Moscow time on December 18, 2022, the quotes of the digital currency ETH were at $1,182, having fallen below the key support level by $1,200.
Previously, many experts said that if the ether rate does not stay above this value, then the value of the cryptocurrency may fall to $ 1,000 or lower. The market capitalization of Ethereum was $144.69 billion. The exchange rate of the digital coin increased by 0.2% per day, but lost 7.14% compared to a week ago. Traders secured transactions with digital currency worth $45.61 billion over the past 7 days.
As for the flagship cryptocurrency bitcoin (BTC), its quotes were fixed at $ 16,721, and the total supply of coins was $321.8 billion.
