Ethereum Price Today: Can ETH Hit $5,000 if BTC Hits $150k?

Discover if Ethereum price has the ability to hit $5,000 if Bitcoin price manages to scale up to $150,000. Will ETH bulls pull through?
By Akash Girimath
December 4, 2024 | Updated December 4, 2024
Analyst Outlines Buying Opportunity Before Ethereum (ETH) Price Skyrockets to $3,000

Highlights

  • Ethereum price is up today despite recent Bitcoin crash.
  • ETH hitting $5,000 seems highly likely if Bitcoin touches $150,000.
  • A breakdown of $3,352 support level could catalyze a double-digit correction to $3,000.

Despite the recent Bitcoin crash, Ethereum (ETH) price today trades at $3,853.7 as of 11 PM, which is a show of strength. Surprisingly, ETH performance during the recent crash is much better than most altcoins. Regardless, Ethereum prices today hit a daily high of $3,892.3 after 6.34% move on October 26. If this outlook continues, Ether could push toward $4,000 while investors await for Bitcoin price to hit $100k. But Can Ethereum hit $5,000, especially if Bitcoin hits $150k?

Ethereum Price Today: ETH Delays Sell Signal

Ethereum price performance relative to its peers is a display of strength. Despite ETH’s bearish divergence it is up today. Regardless, ETH’s new-found bullishness is a  paradigm shift that also hints at an end of 2024’s boring performance.

From a short-term outlook, ETH price looks to extend its gains if BTC continues its sideways movement. Let’s explore this in the later section of this article.

Ethereum Price Chart Today

eth price today

*Ethereum price updated as of 11 PM.

Ethereum’s innovative smart contract technology has made it a standout altcoin since its inception in 2015. Continuous major network upgrades ensure Ethereum stays ahead in smart contract innovation. The latest upgrade, Cancun, launched on March 13, 2024.

Ethereum Price Outlook

ETH’s year-to-date (YTD) performance continues to increase and currently sits at 33%. This recent slump in Bitcoin price has affected the YTD gains, which have dropped from 50% since November 11. As of October 26, 2024, if you invested $10,000 in ETH on January 1, 2024, your portfolio, after 317 days, would be up roughly $3,317. Ethereum’s market capitalization stands at $464.1 billion.

Ethereum: The Second-Largest Crypto By Market Cap

Ethereum ranks second in market capitalization, valued at $464.1 billion, after Bitcoin’s $1.73 trillion. Together, BTC & ETH’s market capitalization constitutes 83% of the total crypto market cap.

Since its all-time high of $571 billion in November 2021, Ethereum’s value decreased by half in October, but has spiked recently due to Bitcoin’s new ATH. Still, Ethereum maintains a strong lead over other popular cryptocurrencies:
  • Solana (SOL): $98.8 billion
  • Ripple (XRP): $89.8 billion
  • BNB (BNB): $91.0 billion

Despite this recent downtick and recovery, the 24-hour trading volume of Ethereum is $60.2 billion.

Ethereum’s Crypto Trading Volume Soars

The 24-hour trading volume of Ethereum is $60.2 billion. Binance is the largest contributor to this trading volume – about 11% is contributed by spot trading and nearly 40% from futures trading. Exchanges like OKX, Bitget, and ByBit follow Binance.

Ethereum Morphs to Proof-of-Stake Technology

The London hard fork is a significant Ethereum blockchain upgrade. It changed the network from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Ethereum co-founder Vitalik Buterin recently shared his thoughts on X (formerly Twitter). He explained how Proof-of-Stake (PoS) is more decentralized than Proof-of-Work (PoW).

Key Ethereum Blockchain Upgrades in the Past 5 Years

Here are some key upgrades in the past five years that shaped Ethereum as the second-largest crypto by market capitalization.

2024:

  • Cancun-Deneb (“Dencun”): This upgrade aimed to improve Ethereum’s scalability, security, and usability, setting the stage for further enhancements.
2023:
  • Shanghai-Capella (“Shapella”): Enabled the withdrawal of staked Ether (ETH), marking a significant milestone in Ethereum’s transition to a Proof-of-Stake (PoS) consensus algorithm.
2022:
  • Paris (The Merge): Successfully transitioned Ethereum from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus algorithm, reducing energy consumption and increasing security.
  • Bellatrix: Prepared the Ethereum network for The Merge by introducing the necessary PoS consensus logic.
  • Gray Glacier: Delayed the “difficulty bomb” that would have slowed down the network, ensuring a smooth transition to PoS.
2021:
  • Arrow Glacier: Delayed the “difficulty bomb” again, providing more time for the transition to PoS.
  • Altair: Introduced several improvements to the Beacon Chain, including better validator incentives and enhanced security.
  • London: Implemented the highly anticipated EIP-1559, which reformed the transaction fee market, making it more efficient and user-friendly.
  • Berlin: Introduced several protocol upgrades, including improved gas efficiency and enhanced security features.
2020:
  • Beacon Chain genesis: Launched the Beacon Chain, marking the beginning of Ethereum’s transition to PoS.
  • Staking deposit contract deployed: Enabled users to deposit ETH and participate in the PoS consensus algorithm.
  • Muir Glacier: Delayed the “difficulty bomb” to ensure a smooth transition to PoS.

ETH Gas & It’s Effect on Ethereum Price

The blockchain upgrades Ethereum receives aim to solve the trilemma of blockchain, i.e., balancing decentralization, security, and scalability. The switch to Proof-of-Stake (PoS) enhanced these aspects. Ethereum’s transaction fees (gas fees) plummeted post-upgrade, drawing more investors. Gas fees are like taxes, measured in Gwei, required for secure transactions.

As of October 26, the gas fee for a transaction on the ETH network as of 11 PM is 14 Gwei.

When Ethereum’s on-chain value grows, presenting opportunities, investors flock, driving gas fees up. This typically occurs during market upswings, peaking at all-time highs.

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Ethereum Price Outlook For Next Week

Date Price Change
October 26, 20253921.28-0.62%
October 27, 20253965.410.5%
October 28, 20254047.422.58%
October 29, 20254213.186.78%
October 30, 20254326.729.66%
October 31, 20254408.6111.73%
November 01, 20254299.508.97%
November 02, 20254215.646.84%
November 03, 20254250.897.74%
November 04, 20254363.2410.58%
November 05, 20254536.9814.99%
November 06, 20254619.8817.09%
November 07, 20254683.8618.71%
November 08, 20254724.5219.74%
November 09, 20254719.6419.62%
November 10, 20254667.5018.29%
November 11, 20254622.6117.16%
November 12, 20254567.8315.77%
November 13, 20254421.7712.07%
November 14, 20254267.818.16%
November 15, 20254103.123.99%
November 16, 20254090.233.66%
November 17, 20254128.584.64%
November 18, 20254103.153.99%
November 19, 20254093.703.75%
November 20, 20254112.824.24%
November 21, 20254158.155.38%
November 22, 20254216.386.86%
November 23, 20254308.609.2%
November 24, 20254380.6811.02%

Based on CoinGagpe’s Ethereum price predictions, investors can expect ETH to trade at around $3,373 in the next week. This is a considerate prediction and is in line with the lackluster performance seen since the start of 2024.

Ethereum Price Outlook Between 2025 & 2029

2025
2026
2027
2028
2029
Month Minimum Price Average Price Maximum Price Potential ROI
January $3,999.53 $4,709.37 $4,354.45 10.5%
February $3,862.65 $4,694.23 $4,278.44 8.6%
March $3,725.78 $4,679.08 $4,202.43 6.7%
April $3,588.90 $4,663.93 $4,126.42 4.7%
May $3,452.03 $4,648.79 $4,050.41 2.8%
June $3,315.15 $4,633.64 $3,974.40 0.87%
July $3,178.28 $4,618.49 $3,898.38 -1.1%
August $3,041.40 $4,603.35 $3,822.37 -3%
September $2,904.53 $4,588.20 $3,746.36 -4.9%
October $2,767.65 $4,573.05 $3,670.35 -6.8%
November $2,630.78 $4,557.91 $3,594.34 -8.8%
December $2,493.90 $4,542.76 $3,518.33 -10.7%
All Time $3,246.71 $4,626.07 $3,936.39 -0.1%
Month Minimum Price Average Price Maximum Price Potential ROI
January $3,040.91 $4,941.45 $4,200.97 6.6%
February $3,587.92 $5,340.13 $4,883.61 23.9%
March $4,134.93 $5,738.82 $5,566.25 41.3%
April $4,681.93 $6,137.51 $6,248.89 58.6%
May $5,228.94 $6,536.19 $6,931.53 75.9%
June $5,775.95 $6,934.88 $7,614.17 93.3%
July $6,322.96 $7,333.57 $8,296.80 110.6%
August $6,869.97 $7,732.25 $8,979.44 127.9%
September $7,416.98 $8,130.94 $9,662.08 145.2%
October $7,963.98 $8,529.63 $10,344.72 162.6%
November $8,510.99 $8,928.31 $11,027.36 179.9%
December $9,058 $9,327 $11,710 197.2%
All Time $6,049.45 $7,134.22 $7,955.48 101.9%
Month Minimum Price Average Price Maximum Price Potential ROI
January $9,393.58 $9,679.08 $12,045.17 205.7%
February $9,729.17 $10,031.17 $12,380.33 214.2%
March $10,064.75 $10,383.25 $12,715.50 222.7%
April $10,400.33 $10,735.33 $13,050.67 231.2%
May $10,735.92 $11,087.42 $13,385.83 239.7%
June $11,071.50 $11,439.50 $13,721 248.2%
July $11,407.08 $11,791.58 $14,056.17 256.8%
August $11,742.67 $12,143.67 $14,391.33 265.3%
September $12,078.25 $12,495.75 $14,726.50 273.8%
October $12,413.83 $12,847.83 $15,061.67 282.3%
November $12,749.42 $13,199.92 $15,396.83 290.8%
December $13,085 $13,552 $15,732 299.3%
All Time $11,239.29 $11,615.54 $13,888.58 252.5%
Month Minimum Price Average Price Maximum Price Potential ROI
January $13,563.08 $14,047.67 $16,309.92 314%
February $14,041.17 $14,543.33 $16,887.83 328.6%
March $14,519.25 $15,039 $17,465.75 343.3%
April $14,997.33 $15,534.67 $18,043.67 358%
May $15,475.42 $16,030.33 $18,621.58 372.6%
June $15,953.50 $16,526 $19,199.50 387.3%
July $16,431.58 $17,021.67 $19,777.42 402%
August $16,909.67 $17,517.33 $20,355.33 416.6%
September $17,387.75 $18,013 $20,933.25 431.3%
October $17,865.83 $18,508.67 $21,511.17 446%
November $18,343.92 $19,004.33 $22,089.08 460.6%
December $18,822 $19,500 $22,667 475.3%
All Time $16,192.54 $16,773.83 $19,488.46 394.6%
Month Minimum Price Average Price Maximum Price Potential ROI
January $19,526.50 $20,213 $23,522.92 497%
February $20,231 $20,926 $24,378.83 518.8%
March $20,935.50 $21,639 $25,234.75 540.5%
April $21,640 $22,352 $26,090.67 562.2%
May $22,344.50 $23,065 $26,946.58 583.9%
June $23,049 $23,778 $27,802.50 605.6%
July $23,753.50 $24,491 $28,658.42 627.4%
August $24,458 $25,204 $29,514.33 649.1%
September $25,162.50 $25,917 $30,370.25 670.8%
October $25,867 $26,630 $31,226.17 692.5%
November $26,571.50 $27,343 $32,082.08 714.3%
December $27,276 $28,056 $32,938 736%
All Time $23,401.25 $24,134.50 $28,230.46 616.5%

In the next year, Ethereum price could still be hovering in the current range. Based on the prediction data, ETH’s trade range extends from $3,001.19 to $4,651.84. This outlook is based on the previous data. However, if ETH breaks the trend, it could go much higher.

The long-term outlook extending from 2025 to 2029, Ethereum price could hit a high of $18,603 with the lowest point being $3,000.

Ethereum Price Outlook Between 2030 & 2050

2030
2031
2032
2033
2040
2050
Month Minimum Price Average Price Maximum Price Potential ROI
January $28,417.17 $29,249.08 $34,130.33 766.3%
February $29,558.33 $30,442.17 $35,322.67 796.5%
March $30,699.50 $31,635.25 $36,515 826.8%
April $31,840.67 $32,828.33 $37,707.33 857%
May $32,981.83 $34,021.42 $38,899.67 887.3%
June $34,123 $35,214.50 $40,092 917.6%
July $35,264.17 $36,407.58 $41,284.33 947.8%
August $36,405.33 $37,600.67 $42,476.67 978.1%
September $37,546.50 $38,793.75 $43,669 1008.4%
October $38,687.67 $39,986.83 $44,861.33 1038.6%
November $39,828.83 $41,179.92 $46,053.67 1068.9%
December $40,970 $42,373 $47,246 1099.1%
All Time $34,693.58 $35,811.04 $40,688.17 932.7%
Month Minimum Price Average Price Maximum Price Potential ROI
January $42,748 $44,175.33 $49,253.67 1150.1%
February $44,526 $45,977.67 $51,261.33 1201%
March $46,304 $47,780 $53,269 1252%
April $48,082 $49,582.33 $55,276.67 1303%
May $49,860 $51,384.67 $57,284.33 1353.9%
June $51,638 $53,187 $59,292 1404.9%
July $53,416 $54,989.33 $61,299.67 1455.8%
August $55,194 $56,791.67 $63,307.33 1506.8%
September $56,972 $58,594 $65,315 1557.7%
October $58,750 $60,396.33 $67,322.67 1608.7%
November $60,528 $62,198.67 $69,330.33 1659.7%
December $62,306 $64,001 $71,338 1710.6%
All Time $52,527 $54,088.17 $60,295.83 1430.4%
Month Minimum Price Average Price Maximum Price Potential ROI
January $64,523 $66,343.42 $74,533 1791.7%
February $66,740 $68,685.83 $77,728 1872.8%
March $68,957 $71,028.25 $80,923 1953.9%
April $71,174 $73,370.67 $84,118 2035%
May $73,391 $75,713.08 $87,313 2116.1%
June $75,608 $78,055.50 $90,508 2197.2%
July $77,825 $80,397.92 $93,703 2278.2%
August $80,042 $82,740.33 $96,898 2359.3%
September $82,259 $85,082.75 $100,093 2440.4%
October $84,476 $87,425.17 $103,288 2521.5%
November $86,693 $89,767.58 $106,483 2602.6%
December $88,910 $92,110 $109,678 2683.7%
All Time $76,716.50 $79,226.71 $92,105.50 2237.7%
Month Minimum Price Average Price Maximum Price Potential ROI
January $92,565.75 $95,806.17 $113,497.58 2780.6%
February $96,221.50 $99,502.33 $117,317.17 2877.6%
March $99,877.25 $103,198.50 $121,136.75 2974.5%
April $103,533 $106,894.67 $124,956.33 3071.5%
May $107,188.75 $110,590.83 $128,775.92 3168.4%
June $110,844.50 $114,287 $132,595.50 3265.4%
July $114,500.25 $117,983.17 $136,415.08 3362.3%
August $118,156 $121,679.33 $140,234.67 3459.3%
September $121,811.75 $125,375.50 $144,054.25 3556.2%
October $125,467.50 $129,071.67 $147,873.83 3653.1%
November $129,123.25 $132,767.83 $151,693.42 3750.1%
December $132,779 $136,464 $155,513 3847%
All Time $112,672.38 $116,135.08 $134,505.29 3313.8%
Month Minimum Price Average Price Maximum Price Potential ROI
January $138,430.92 $142,604.83 $161,658.50 4003%
February $144,082.83 $148,745.67 $167,804 4159%
March $149,734.75 $154,886.50 $173,949.50 4315%
April $155,386.67 $161,027.33 $180,095 4470.9%
May $161,038.58 $167,168.17 $186,240.50 4626.9%
June $166,690.50 $173,309 $192,386 4782.9%
July $172,342.42 $179,449.83 $198,531.50 4938.9%
August $177,994.33 $185,590.67 $204,677 5094.8%
September $183,646.25 $191,731.50 $210,822.50 5250.8%
October $189,298.17 $197,872.33 $216,968 5406.8%
November $194,950.08 $204,013.17 $223,113.50 5562.8%
December $200,602 $210,154 $229,259 5718.8%
All Time $169,516.46 $176,379.42 $195,458.75 4860.9%
Month Minimum Price Average Price Maximum Price Potential ROI
January $204,695.92 $214,134.25 $233,011.75 5814%
February $208,789.83 $218,114.50 $236,764.50 5909.3%
March $212,883.75 $222,094.75 $240,517.25 6004.5%
April $216,977.67 $226,075 $244,270 6099.7%
May $221,071.58 $230,055.25 $248,022.75 6195%
June $225,165.50 $234,035.50 $251,775.50 6290.2%
July $229,259.42 $238,015.75 $255,528.25 6385.5%
August $233,353.33 $241,996 $259,281 6480.7%
September $237,447.25 $245,976.25 $263,033.75 6576%
October $241,541.17 $249,956.50 $266,786.50 6671.2%
November $245,635.08 $253,936.75 $270,539.25 6766.5%
December $249,729 $257,917 $274,292 6861.7%
All Time $227,212.46 $236,025.63 $253,651.88 6337.9%

Between 2023 and 2050, Ethereum’s price will most likely follow the bullish outlook and aim for the six-digit territory. The lowest price point is $16,092.58, and the highest price of Ether is $145,915.83.

Can Ethereum Price Hit $5,000 if BTC Touches $150K?

The recent sideways movement in Bitcoin, as mentioned above, has allowed altcoins to run wild. Amid this phase of the bull cycle, Ethereum has emerged as a strong coin as it failed to be influenced by the recent 8% crash in BTC. This paradigm shift could help ETH scale higher in two particular scenarios – if Bitcoin continues its sideways movement and during a BTC-led uptrend.

Assuming, Bitcoin ends its rangebound movement and kickstarts an uptrend, starting second week, then Ethereum price could follow its path. If Bitcoin price shatters the $100K level and hits $150K, it will be a significant achievement for the largest crypto by market cap. Under these bullish conditions only a select few coins will be able to keep up. Ethereum is one such crypto.

Considering the recent show of strength coupled with Bitcoin’s run up to $150K, Ethereum is highly likely to hit $5,000. This move would constitute 35% rally and isn’t unheard of in the cryptocurrency ecosystem.

ETH/USDT 1-day chart
ETH/USDT 1-day chart

On the contrary, if Ethereum price fails to hold $3,352 with Bitcoin sliding lower, it would suggest that the bullish outlook would be unlikely to unfold. Such a development could suggest ETH could crash 14% to tag the next key support level of $3,000 or $2,886.

Akash Girimath
Senior Cryptocurrency Analyst & Market Strategist Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts. A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise. Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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