As the cryptocurrency market continues to grow in popularity, investors are looking for ways to predict the price of its digital assets better.
The second most valuable cryptocurrency on the market is Ethereum (ETH). With so many variables affecting the price of ETH, it can be difficult for investors to forecast its price accurately. Thus, investors are increasingly turning to artificial intelligence (AI) to help predict the price of cryptocurrencies such as Ethereum for several reasons.
AI seemingly has the ability to analyze vast amounts of data; with so much data available on Ethereum and the cryptocurrency market as a whole, AI can quickly identify chart patterns and trends. In turn, Finbold has gathered projections made by CoinPriceForecast, the finance prediction platform that uses machine self-learning technology, to gauge Ethereum price for the end of 2023.
According to the latest long-term forecast, retrieved by Finbold on February 23, Ethereum’s price will climb above $2,000 by the middle of 2023 and hit $2,146 by the end of the year marking a 31% increase from today to the year’s end.