The Ethereum price forecast is bullish with a 3.5% increase to $1,215 in the last 24 hours and a 2% increase for the cryptocurrency market. This indicates a 9% increase over the past seven days. Charles Hoskinson, developer of Ethereum and Cardano, predicts that Elon Musk’s acquisition of Twitter will accelerate cryptocurrency adoption.
Hoskinson predicted that Elon Musk’s acquisition of Twitter will bring 200 million new crypto users. And because Ethereum is the largest blockchain based on aggregate value, Ethereum and the ETH token will likely benefit the most.
Ethereum Price Prediction – 200 million new crypto users via Twitter, according to Hoskinson
The Ethereum price chart shows a clear rise after a big drop earlier this month (due to the FTX cryptocurrency crash). The relative strength index (in purple) is heading towards 50.0, indicating growing momentum for ETH, which looks set to continue if the FTX crash would not cause more problems.
Ethereum’s 30-day moving average (in red) remains below the 200-day moving average, meaning it hasn’t bottomed yet. If we look at technical signals, we can still count on an increase.
There are several reasons to be optimistic about ETH. For example, the September merger of Ethereum is now complete, making it a proof-of-stake system and allowing it to grow further.
Charles Hoskinson has also predicted that the Twitter acquisition by Elon Musk will bring new users to crypto, which will significantly increase demand. At the Web Summit 2022 conference in Lisbon, he said the following:
“Elon Musk’s purchase of Twitter will probably bring about 200 million new people into cryptocurrency. He definitely has plans to integrate crypto.”
Hoskinson had Dogecoin in mind for Twitter (considering that Dogecoin is unlikely to scale to 200 million users), but he also reported that the entire crypto ecosystem is benefiting from Elon Musk’s purchase of Twitter. Hoskinson not only reported Ethereum as the only party that will benefit, but Ethereum’s position as the largest layer-one blockchain will ensure that ETH would actually benefit the most from growing crypto adoption.
Looking at the total value of Ethereum, we see that it accounts for 57.9% of the DeFi ecosystem, while BNB (BInance Smart Chain), the closest competitor, only accounts for 11.9%. Although it has not yet taken advantage of the merger, it already has this dominant position.
Therefore, many people expect Ethereum to grow even more and become even more dominant in the long term, and for the platform to take advantage of its position as a first-mover. If true, it means that ETH can only rise in the medium to long term, especially if we look at decent upgrades that make it deflationary.
ETH may therefore return to previous highs in the first half of 2023, making $2,000 a realistic first target. In the long run, it can surpass its old all-time high (ATH) of $3,878, assuming we get another bull market in the future.
Still, Hoskinson also said that Twitter may well benefit from the BNB chain, as Binance has invested $500 million in Musk’s acquisition of Twitter. If this is the case, ETH’s position will be thwarted.
More profit in less time
Investors will have to wait for Ethereum’s big gains. As a result, many are looking at other options, such as pre-sale crypto tokens, which are very promising and could generate large profits this year, even during the bear market.
Take Tamadoge (TAMA), for example, which, after being added to the OKX Exchange in October, is up 1,800% pre-sale. The following three coins cannot guarantee such big gains, but with their strong fundamentals, they have a chance to pay out a lot of profits to investors who get there in time.
Dash 2 Trade (D2T)
Dash 2 Trade is an intelligent trading platform based on the Ethereum blockchain, which provides investors and traders – with or without experience – real-time analysis and social trading data, enabling them to make better investment decisions.
The presale of the native D2T token has already brought the project more than $7 million. The token will also be added to BitMart and LBank Exchange once the presale is completed. Investors who buy during the pre-sale can therefore expect big gains.
Visit the Dash 2 Trade Presale here
Robot Era (TARO)
As the next contender on the Ethereum blockchain, we have RobotEra (TARO), a sandbox metaverse game expected to go live in the first quarter of 2023. As a monetization game, it uses non-fungible tokens (NFTs), so items purchased by players actually belong to them. In this metaverse, players can control robots and build the virtual world with estates, buildings and other in-game objects.
1 TARO is currently valued at 0.020 USDT (it can be bought with ETH and USDT), this value will increase to 0.025 USDT in the next phase of the pre-sale starting soon.
Visit the RobotEra Presale here
As the latest pre-sale project on the Ethereum blockchain, we have IMPT, a carbon credit marketplace that rewards customers for trading on their climate-friendly platform with thousands of merchants. Upon purchase, the customer receives a cashback in the form of IMPT tokens, with which you can purchase NFT footprints. These footprints can be traded or destroyed, which will increase the user’s IMPT.io score and show the user’s impact on the environment.
Since the presale started in October, IMPT has raised over $13 million and currently 1 token is valued at $0.023
Visit the IMPT Presale here