2023 End of Year Price Prediction Betting Analysis: Will Ethereum Finish Above $1675?

At Bookmakers Review, we continue to build your portfolio in the digital world of cryptocurrency by asking – Will Ethereum (ETH) go above $1675, by the end of the year.

Top offshore sportsbooks are offering prop bets for one of the best banking options at the best crypto gambling sites, so let’s take a look at the current state of Ethereum.

The History of Ethereum

Ethereum (ETH) is the second-best-known cryptocurrency behind Bitcoin, originally touted by Vitalik Buterin. The Russian-Canadian computer gamer founded the coin in 2014 with Charles Hoskinson, Joseph Lubin, Anthony Di Iorio and Gavin Wood. They achieved their goal, with the innovative idea of crowdfunding, and the coin went live in late July 2015 with its own following.

It is the native cryptocurrency of the platform and is a smart contract decentralized Blockchain. This provides a strong financial entity that does not rely on normal financial institutions like banks, exchanges and brokerages.

The Trends – Highs and Lows of Ethereum

What becomes apparent when looking through the historical highs and lows of Ethereum on a graph in comparison to Bitcoin is that it follows the overall trend of the leading digital currency.

The two huge upswings followed by downswings of Bitcoin were not copied by Ethereum exactly. They suffered the initial downswing, but without the severity of the second downswing, so there wasn’t a huge second upswing for Ethereum. In fact, in its own small way, ETH has been a more stable digital commodity since the initial crash at the start of 2022 than Bitcoin.

November 2021, saw the highest value for Ethereum at $4444.53 but by June 2022, the dramatic slump endured by the industry meant Ethereum was worth just under $1100. That was a fall of over 300% at its worst but since that period, it has gone up by just under $800, so an increase of approximately 75% is in line with the industry trends.

Ethereum Rules, Software and Values

Ethereum has always shown a commitment to open access for all through their core value of decentralization. End users who hold original $ETH use applications to build on top of the digital currency. Miners – through businesses or individuals validate transactions through software and in the process earn an income. There is more than one software client on the network, which is the main difference to Bitcoin, which only uses Bitcoin core. Geth appears the most popular of those, but Besu, Nethermind and OpenEthereum are fine and trustworthy options.

An Ethereum Scandal Is Emerging in Recent Days

An Ethereum former advisor has dealt the company a huge blow in recent days accusing two founders, Vitalik Buterin and Joseph Lubin of committing fraud on the social media platform X (formerly known as Twitter). Those accusations suggest the scale of the fraud could exceed the FTX one currently in the legal process of a court hearing that is examining the misappropriation of $8 billion.

The accuser or whistleblower claims secret dealings between Ethereum and high-ranking U.S. officials. These claims remain unverified, but are red-flagging concerns within the cryptocurrency digital community.

Here at Bookmakers Review, our brief was to investigate whether Ethereum can go above $1675 by the end of the year. As of writing this investigation, the current worth of Ethereum is $1872.50, but in Ethereum’s case, the emerging scandal brings a very serious cloud in the short term.

Conclusion

Our advice is to sit tight until the new year and give the opportunity for further details on the scandal to become public knowledge. That is bound to curtail confidence for traders and buyers alike. It does beg repeating that these are only accusations with no proof of any wrongdoing, so as always in these circumstances, time will tell.

What we can say is that Ethereum has been an extremely trustworthy Blockchain in the industry. For those reasons, long-term the digital currency should be a sound investment, but in the short term, which may become elongated if these accusations go any further, we advise you to tread lightly with Ethereum (ETH).

One word of caution would be that, if these allegations were indeed substantiated in court, they would undermine the legality potentially of the coin and undoubtedly, the credibility.