Asset management firm Blofin has made its price forecast for the first quarter of 2024, taking into account net income in the Ethereum (ETH) network and the next big upgrade, Cancun.
The detailed report on Ethereum’s future price activity published by Blofin attracted attention. In particular, the report in the first quarter of 2024 While making 3 different price predictions for the Ethereum price bullish expectation did not run away.
on Ethereum The Merge The report, which states that the deflationary structure that comes with the upgrade, has a critical role in pushing the price up, did not ignore the next big upgrade. According to the developers in the last quarter of 2023 that will come to life to the Cancun update Best for Ethereum in the report, which covers a lot $9,700 price prediction created excitement.
Ethereum network of Cancun upgrade net income While it is claimed that it will increase 2x rise attention was drawn. In the report, net income in the network in the last quarter of 2023 $953 million However, with Cancun, this number will increase in the first quarter of 2024. $1.9 million expected to be achieved. In parallel with such an increase, the Ethereum price January 2024‘also $5,300, March 2024if in $9,700 was reported to rise.
With this Price-Earnings curve The report, emphasizing the importance of A 300 point P/K when making these price estimates for the curve A curve of 150 points kept his expectations low. If the P/E curve is 150 points, the price will be in January. 2,670 In march $4,900 could be emphasized.
Revenues remain constant and the P/E curve have 300 points net earnings of the network in the first quarter of 2024 826 million dollars While emphasizing that it will be 2,670 if in march $6,500 prediction has been made. Same way F/N of the curve 150 points for the month of January 2,150 and for the month of March $3,200 price estimation.
According to the report, the net income of the Ethereum network will fall, but if Cancun succeeds, it will be in the first quarter of 2024. $672 million a net gain is predicted, on a 300-point P/E curve, the price is in January. 4.100 and in march $5,400 may have been written.