Will Ethereum Coin Go Up? Experts Talk!
Cryptocurrency investments are lucrative options to diversify one’s portfolio, but they are risky and might bring a downfall in one’s portfolio. Investors should do their own research (both fundamental and technical) by following the latest market news and trends and taking expert opinions before making any investment in cryptocurrencies.
What Is Ethereum?
Ethereum is an open-source blockchain network with its own currency called ETHER (ETH). It is also a decentralized currency like bitcoin, but its technology can do much more than speeding up digital transactions; the Ethereum network facilitates faster transfers (even faster than Bitcoin’s) and can also process more transactions than Bitcoin blockchain. However, by market capitalization, it is the 2nd largest cryptocurrency after Bitcoin by market capitalization. Ethereum was first introduced in the market in 2013 by Vitalik Buterin to overcome the limitations of Bitcoin, and thus it developed into a decentralized application platform (dApp) having its individual distributed financial network.
The foremost advantage of Ethereum is its Smart Contract Technology that can secure all digital transactions on the network without building up mutual trust.
Historical Data of Ethereum Coin
The ETH price grew exponentially in 2017 and 2018, with a lot of crypto projects showing interest to run on the Ethereum blockchain network at that time. The first ETH tokens were distributed through ICO (Initial Coin Offerings), which was very popular during those years. Interested investors had to send fiat currencies and, in exchange, received ETH tokens, due to which the ETH price spiked high. However, the unprecedented high price of Ethereum did not last for long, and ETH lost almost 92% of its value in 2018, but it soon recovered its price that dipped below $100 in 2018.
Experts Talk on Growth of Ethereum Coin
Being the 2nd largest cryptocurrency just after Bitcoin, Ethereum closely follows the price trends of Bitcoin. After China banned cryptocurrency mining in the nation, the price of Bitcoin dipped below $30000 in July last year, and consequently, the price of Ethereum tokens also dipped well below its average price. However, at present, experts predict the price of Ether to surpass its $6,500 mark by the end of 2022, but even then, the rise would not be stable. ETH price would rise to $11,849 in the first half of the year, but then it would continue to swing in its own rhythm throughout the year.
According to a group of experts, the average price of Ethereum would not go beyond $4,000 by the end of 2021. The price may reach its maximum in December with $4,857.065, while the minimum price would be expected in November at $4,292.040, with the average price of Ether hovering around $3,885.652 by the end of the year. There would be no drastic falls in the ETH price in 2022.
Another group of experts believes that the average price of Ethereum will hover somewhere around $4,100 by the end of November, reaching its maximum in December when the price is expected to be around $5,015.740. A minimum price is expected at around $4,139.850, and the average being at $4,722.080 by the end of the year.
Ethereum Coin Price Updates for Upcoming Years
Due to the two important developments on the Ethereum network in 2021, the benefits will be reaped in the coming years. The transition from PoW (Proof of Work) to the PoS (Proof of stake) mechanism and the introduction of DeFi (decentralized finance) services will see the price of ETH rise exponentially. With the Ethereum blockchain upgrade to Ethereum 2.0, new institutional investors show a keen interest in ETH staking, increasing its price to new levels.
Some experts believe that the price of ETH could reach 4,076 at the beginning of 2022 and surpass $10,000 by the end of 2023. And can reach its maximum of $16,391 by the end of 2025. At the same time, others believe that the ETH price could reach $6,380 by the end of 2022. The price could reach an average of $7,569 by the end of 2025 and $16,858 by the end of 2028. According to some more optimistic views, ETH price could reach an estimated value of $18,213 by 2025, and rise to $5,881 by 2022, and reach its maximum of $110,187 by the end of 2030.
Will Ethereum Coin Go Up?
Prominent cryptocurrency experts expect the price of Ether to rise in the long term with the continued adoption of DeFi blockchain (dApps) and NFTs since 2021. Crypto investors see more growth in Ethereum than in Bitcoin.
Thus, experts have their individual views when it comes to making ETH predictions on various cryptocurrencies. Because of the volatile nature of cryptocurrencies, it becomes challenging to accurately predict the price of a coin what it will be in the next few hours; it is even harder to make long-term predictions. As such, even the analytical and algorithm-based predictions can go wrong.