Crypto community with 92% historical accuracy sets ETH price for June 30, 2023

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CoinMarketCap cryptocurrency community price estimation is based solely on the votes of its users. Estimates do not guarantee month-end prices.

The year 2023 has breathed new life into the crypto market, with many major cryptocurrencies and altcoins rebounding sharply after an extremely difficult 2022. Among the digital assets that have seen a significant rebound in price is Ethereum (ETH), the second largest cryptocurrency in the world. by market capitalization.

Along with the broader market rally, the price of ETH received an additional boost following the long-awaited Shapella upgrade, aimed at easing blockchains’ road to greater security, decentralization and scalability. .

However, the market now faces new uncertainty stemming from the intensified regulatory crackdown on the sector, led by the United States Securities and Exchange Commission (SEC). Seeking to better understand how this could impact the price of ETH, Finbold analyzed the latest predictions from the crypto community on CoinMarketCap on Thursday, June 15 for the end of this month.

For June 30, 2023, community members predict an average Ethereum price of $1,809, which represents a potential price increase of 10.31% from the current price.

CoinMarketCap community price prediction for the end of June. Source: CoinMarketCap

When it comes to ETH, this community had a historical accuracy rate of 92.25%, while Ethereum’s end-May price accuracy was over 98%.

CoinMarketCap community prediction accuracy rate over the past 6 months. Source: CoinMarketCapEthereum (ETH) Price Analysis

At press time, ETH was trading at $1,644, down 5.6% in the past 24 hours.

On a weekly chart, Ethereum is down over 11.2%, trading in a notable trading range of $1,632-$1,916 during this time frame.

1 week ETH price chart. Source: Finbold

The latest drop in crypto prices came after the Federal Reserve left its target interest rate unchanged at its June 14 meeting, saying it planned to “evaluate additional information” to determine whether to further hikes are needed after 10 consecutive rate increases since March 2022.

The Fed’s move sent Ethereum’s price falling below the $1,720 support after the cryptocurrency failed to attract enough buying pressure to break above the 1-1 resistance. $780.

Disclaimer: The content of this site should not be considered investment advice. The investment is speculative. When you invest, your capital is at risk.

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