Ethereum (ETH) Price Predictions: Will ETH Hit a New All-Time High in August?

The Ethereum price is down nearly 20% over the past month and is currently trading at $3,160. However, ETH's fortunes could be taking a turn

As the crypto market experiences a downturn, with BTC and ETH prices fluctuating, investors are left wondering about the next move. While some anticipate a further Bitcoin price drop to $50,000, others believe it to be the opportune moment to “buy the dip.”

This discourse stems from the broader bullish market trend, which incorporates periods of pullback. Despite the recent market downturn, several experts remain optimistic about the future of crypto.

For instance, regarding ETH price predictions, a popular crypto trader — who co-hosts the Into The Ether podcast and boasts over 250k followers on X — anticipates a new all-time high for Ethereum in August.

This projection is particularly noteworthy considering that ETH's all-time high currently stands at $4,878, according to data from CoinGecko. Hence, the trader's prediction suggests an anticipated price increase of over 55% within a month's time.

Meanwhile, experts are also expressing optimism for a potential爆発 in the prices of Ethereum meme coins, highlighting Pepe, Floki and new presale coins as promising candidates for outsized returns.

Could ETH Hit a New All-Time High in August?

The ETH price has dropped nearly 20% in the past month, currently trading at $3,160. However, ETH's fortunes may take a turn for the better in July.

The spot Ethereum ETFs are expected to begin trading by mid-July. Bitwise, one of the approved issuers, filed their revised S-1 form with the SEC's Division of Corporate Finance.

Another amended S-1 from @BitwiseInvest for their #Ethereum ETF. Expect more updates from other issuers throughout the rest of the week. These ETFs could potentially start trading later next week or the week of the 15th.

According to Bloomberg analyst James Seyffart, the ETFs could begin trading within the next two weeks.

While the institutional demand for Ethereum is expected to be lower compared to that of Bitcoin, it is still anticipated to positively impact ETH price with the ETF inflows.

Additionally, the ETH/BTC trading pair could bode well for the second-largest cryptocurrency.

To elaborate, Bitcoin is currently experiencing a massive positive supply shock, with Mt.Gox holding nearly $9 billion in BTC and the US government an additional $12 billion, both entities actively selling their holdings.

Furthermore, the German government — which holds about $2 billion in BTC — is also selling Bitcoin nearly every day.

With the upcoming ETH ETFs inflows and the positive supply shock on Bitcoin, the ETH/BTC trading pair could experience a significant rally. Currently trading at 0.053, a breakout above 0.06 could see the ETH price heading towards new all-time highs.

Ethereum Meme Coins Set to Explode

Smart money investors have been regarding meme coins as beta plays on their respective blockchains.

With the ETH price set to surge, expect ETH-based meme coins to also explode in price. Both Pepe and Floki are expected to push towards new all-time highs.

Brett — the top meme coin on Base — will also be on the radar of many investors, considering it could potentially show a strong correlation to the price of

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