Ethereum (ETH), like the overall cryptocurrency market, has seen price declines last week and this week. However, the cryptocommunity remains optimistic about the price movement by the end of May.
Despite the volatility, the CoinMarketCap community predicts that the number one altcoin will trade at an average of $3,634 by the end of May 2022, with 21,532 votes in favor.
The community vote price indicates an increase of $770.80 (+26.92%) from the current value of about $2,863.
At the same time, at the end of June, 13,640 community members set a lower target of $3,260.93, an increase of $396.07 or 13.89% over the current price.
Based on previous forecasts, the cryptocommunity predicted Ethereum’s month-end price to be 79.85% accurate.
According to CoinMarketCap, Ethereum is currently trading at $2863, reflecting a daily loss of 3.93% and as much as 9.02% over the previous seven days.
In fact, the crypto community isn’t the only one who believes in Ethereum’s price gains. According to Bloomberg senior commodities analyst Mike McGlone, Ethereum’s role in the digitalization of finance and money could underpin additional price gains in the near future.
Last month, the commodities expert suggested that Ethereum’s price would continue to rise as ETH becomes the “collateral of the internet,” as its supply decreases and demand increases.