Ethereum Price Prediction: Experts Explain Major Crash, Threat of ETH Killers Like Cardano, Solana

September was a pretty rough month for cryptocurrency markets. Investors lost thousands in trade-offs, especially from Ethereum. Now, experts made their Ethereum price predictions and analyze its potential for market loss and gains.

Ethereum fell to its second-biggest monthly decline for the year, dropping at 13 percent in September. Bitcoin also fell seven percent in the market. For reference, Ethereum’s biggest decline was 16 percent last June. The number of dips, of course, has worried many investors.

However, long-term investors take a different perspective. Yahoo! Finance said pullbacks were expected from Ethereum’s historic rally in the past 12 months. Regardless of its dips, Ethereum has increased over 830 percent in value compared to last year.

Other investors took advantage of the September dip to buy Ethereum. Both Ether and Bitcoin climbed nine percent on their trading at the start of October.

Ethereum Price Crash Explained

It is challenging to link up Ethereum’s short-term price movements to a particular event. Senior traders would know how volatile the market is, and how trades could be directly affected by different factors.

Analysts in CNBC emphasized two possible reasons: its higher transaction fee and unexpected spilt.

Several people have found Ethereum’s volatile transaction fees as a problem, together with its speed. For reference, Yahoo! Finance said Ethereum’s transaction speed is limited to 13 transactions per second. Whereas Solana, another cryptocurrency, processes 50,000 transactions per second.

CNBC also explained an unexpected split on Ethereum’s system caused by a bug. Chief investment officer at Bitwise Asset Management, Matt Hougan, elaborated it as a “fork temporarily created two separate records of transactions on the ethereum network – like parallel books.”

The split created a possibility for “double-spend attacks” where the same coin would be spent on different transactions. Generally, Ethereum’s self-executing code should have secured the transaction. “But in theory, there was a risk,” Hougan pointed out.

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ETH Killers Explained: Cardano, Solana and Polygon

Several other cryptocurrency markets are now taking advantage of Ethereum’s momentary weakness. Companies using platforms similar to Ethereum, like Cardano, Solana and Polygon, have made huge gains.

According to Yahoo! Finance, Solana had a 4,800 percent growth compared to last year. It advertises services with lower costs and faster usage than Ethereum. Solana, as previously mentioned, is also improving on its market utility and performance. Other so-called Ethereum killers like Polygon boasts its innovative technologies that should work better than Ethereum.

Nonetheless, analysts said Ethereum would remain a primary building block for crypto projects, maintaining its rank as the second-largest cryptocurrency. Ethereum remains responsible for projects like non-fungible tokens (NFTs), smart contracts, and decentralized finance (DeFi). Despite the challenges it will face, Ethereum’s long-term potential stands strong.

As mentioned before, investors took advantage of the September dip to buy more tokens. Although predicting Ethereum’s market and short-term potential remains difficult, it is worth noting that long-term investors have kept their interest in the growing cryptocurrency.

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