The Ethereum network underwent a dramatic transition from the proof-of-work mining model to the proof-of-stake model on September 15, 2022. With an astounding 99.95% decrease in energy use, this much-anticipated change has ushered in a new era of sustainability and environmental friendliness in the blockchain sector.
Ethereum has displayed decent growth recently. It is trading at $2,296.73 at press time, with a 3.3% surge in value over the last 24 hours. ETH is up by 75% year-to-year. Let us look at the price prediction for Ethereum for mid-January 2024.
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Ethereum price prediction for mid-January 2024
Cryptocurrency experts at Changelly have predicted the price of ETH for mid-January 2024. According to the analysts, ETH is forecast to reach a minimum of $2,221 and a maximum of $2,439. The average price of Ethereum is expected to be $2,330.
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This can vary greatly depending on market sentiment. The SEC’s much-awaited decision on a Bitcoin ETF approval can likely trigger a market push. Nevertheless, if the market proves to be bullish moving forward, ETH’s price can shoot up.