Citibank forecasts Ethereum at 4300 dollars by year-end…"Currently overvalued"

There is a forecast that the price of Ethereum (ETH) could fall.

On the 16th (Korean time), according to CoinDesk, a crypto asset (cryptocurrency) specialized media, Citibank said in a report that Ethereum could drop to 4300 dollars by the end of this year, lower than its current level. As of 7:40 a.m. that day, Ethereum was trading at 4512 dollars, down 2.41% from the previous day.

The report said, "Recent growth of layer-2 networks has increased activity in the Ethereum ecosystem," but also assessed that "it is uncertain how positive an effect this has on Ethereum layer-1." Furthermore, it added, "Ethereum's current price reflects capital inflows and expectations for tokenization and stablecoins (crypto assets whose value is linked to fiat currency)," and "Ethereum appears to be somewhat overvalued."

Citibank also predicted that if Ethereum's bull market continues it could rise to as much as 6400 dollars, whereas in a pessimistic scenario it could fall to 2200 dollars.