Ethereum

Convergence

Cryptocurrency

Divergence

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 <p class="paragraph">Amidst continuous advances in the sphere of artificial intelligence (AI), including Google Bard, the technology has already demonstrated its potential in multiple industries, including offering insights into the cryptocurrency market trends and deducing trends in the price of assets like Ethereum (ETH).</p>
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 <p class="paragraph">With this in mind, Finbold has asked Alphabet’s (NYSE: GOOGL) AI platform for an <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> of the possible <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of Ethereum at the <a rel="noopener noreferrer nofollow" title="start" href="https://thebittimes.com/tag/start.html">start</a> of 2024, taking into account its current <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> trends and historical movements, possible spot exchange-traded fund (ETF) approval, and other factors.</p>
 <h2 class="wp-block-heading" id="h-bard-s-estimates-for-ethereum">Bard’s estimates for Ethereum</h2>
 <p class="paragraph">According to Bard, a “potential price range for Ethereum at the start of 2024 could be between $2,500 and $4,500,” which suggests “the possibility of continued upward momentum driven by technical indicators, ETF approval, community support, institutional interest, and network developments.”</p>
 <p class="paragraph">However, the AI chatbot also recommends caution as “the cryptocurrency market is inherently volatile and subject to external factors that could impact the price,” adding that the “actual price of Ethereum at the start of 2024 could be significantly higher or lower than the proposed range.”</p>
 <h2 class="wp-block-heading" id="h-factors-at-play">Factors at play</h2>
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       <h3 class="font-bold leading-6 " id="ethereum-indicator-flags-sell-signal-expert-analysis">Ethereum indicator flags ‘sell signal;’ Expert analysis</h3>
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 <p class="paragraph">Among the main factors involved in the future price of Ethereum, the AI tool singled out its previous price movements that “have been characterized by periods of both significant growth and sharp declines,” including from the all-time high (ATH) of $4,891.70 in 2021.</p>
 <p class="paragraph">Furthermore, Bard noted that approving a spot ETH ETF “would make it easier for institutional investors to gain exposure to Ethereum, potentially boosting demand and driving up the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>,” as well as highlighted “a strong and active community of developers and users” paving the way to “long-term sustainability.”</p>
 <p class="paragraph">On top of that, it pointed out that:</p>
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  <p class="paragraph">“Several technical indicators suggest that Ethereum may be in the early stages of a bullish trend. For instance, the Moving Average Convergence Divergence (MACD) indicator is showing a bullish crossover, indicating that the upward momentum may continue.”</p>
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 <p class="paragraph">Finally, the chatbot referred to a survey of cryptocurrency experts from October 2023, which “revealed an average <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> prediction of $3,026 for Ethereum at the end of 2023 and $7,184 at the end of 2024,” suggesting a general consensus among experts about Ethereum’s long-term potential.</p>
 <h2 class="wp-block-heading" id="h-ethereum-price-analysis">Ethereum price analysis</h2>
 <p class="paragraph">As things stand, the second-largest crypto asset by market cap is currently changing hands at the price of $1,957.28, down 4.07% on the day and dropping 6.89% across the week while still holding onto the gain of 24.13% in the last month, as per data on November 17.</p>
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  <figcaption class="wp-element-caption"><em>Ethereum price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">Indeed, Bard’s current predictions regarding Ethereum’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> at the year’s turn are rather optimistic, seeing it at 27.73% or even 129.91% higher <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> than at the time of publication, pushed by positive sentiment around it and in the crypto sphere in general.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/google-bard-predicts-ethereum-price-for-start-of-2024-tbt70655.html">https://thebittimes.com/google-bard-predicts-ethereum-price-for-start-of-2024-tbt70655.html</a></p>

Google Bard predicts Ethereum price for start of 2024

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