Ethereum Price Prediction
Ethereum Price Predictions for 2021, 2022 and 2025
Ethereum is the second-largest cryptocurrency after Bitcoin. Since its initial offering, Ethereum has seen its price rise by over 1000%. Since the start Ethereum went through massive bull run, to now trade at $3,752.
On May 12th, 2021, Ethereum hit an all-time high of $4,362.35. Ethereum has also surpassed Bitcoin in transaction counts and transaction fees, with Ethereum processing twice the daily transaction volume of Bitcoin.
What Is Ethereum?
Ethereum is an autonomous, decentralized platform run by thousands of volunteers spread across the world. The blockchain is home to several DeFi tokens. Its popularity in the DeFi space has helped Ethereum cement its position as the second-largest cryptocurrency after Bitcoin and the most sought after platform for DeFi projects.
Ethereum's native currency Ether facilitates the running of Ethereum based smart contracts and dApps based on the platform. Ether is both a medium of payment for users of Ethereum and an incentive. Ether can be exchanged for other cryptocurrencies but cannot be substituted by other currencies to provide gas for transactions on the Ethereum network.
Smart contracts on the Ethereum platform are self-executing, which means that when specific predefined stipulations are met, the contract is automatically executed.
Ethereum's Price History
Like other cryptocurrencies, Ethereum has seen its fair share of volatility. However, it has been one of the most stable currencies in the crypto space. Let's look at Ethereum's price history in a little more detail.
Ethereum experienced its first significant surge between May 17th, 2017, to June 20th, 2017, when the cryptocurrency rallied from $90 to $364 in just a month. The cryptocurrency experienced a bit of volatility after this but picked up again in December. It went past $500 around December 13th and reached $730 in mid-December.
By the end of the month, Ethereum was trading at around $800. It finally broke the $1000 mark in January but experienced volatility again and fell to $750 by February. Since May, Ethereum's value started dropping in May 2018, and it fell to under 100$ in December.
Ethereum did not have so much movement since, appreciating a little but never hit the highs it had in January 2018. However, with cryptocurrencies experiencing another bull run, the value of Ethereum surged in December 2020, and the currency hit its highest price on May 12th, reaching $4,362.35.
Ethereum Price Analysis
In 2020, Ethereum mostly fluctuated between $550 and $750. It remained between these two price points for quite some time before surging on January 3rd.
The price reached $1330 before dropping below $1000 again. However, it found support at $900. Ethereum started a slow recovery at this point, and although the cryptocurrency encountered quite a bit of resistance. Its biggest resistance was at $1250, which it struggled to breach.
Ethereum finally went past the resistance and crossed $1400. Again, the cryptocurrency failed to maintain the price and saw a slight fall but found support at $1250. Ethereum bounced back to $1300. It hits its current all-time high four months later but it's currently trading under the $4000 mark.
Would You Consider Investing in Ethereum ETH?
Ethereum Price Prediction 2021
The adoption of DeFi and dapps is driving up the price of Ethereum. The ongoing upgrade to Ethereum 2.0 is also having a positive influence on the price of the cryptocurrency. Ethereum 2.0 promises to enable Ethereum to process transactions faster, increasing the network's scalability as it migrates from a Proof-of-Work to a Proof-of-Stake consensus mechanism. Ethereum 2.0 will see Ethereum able to conduct 10,000 transactions per second from the currency 30.
Read More: Ethereum Price Analysis for 2021
Ethereum Price Prediction 2022
Ethereum is expected to enter into a host of partnerships in 2022. These tie-ups will positively impact the price of Ethereum. Most cryptocurrency experts have predicted that the currency could reach $2500 by the end of 2022, which is an optimistic target but one that Ethereum is expected to meet.
Ethereum Price Prediction 2023
Ethereum is expected to see a steep increase in value in 2023, thanks to significant mass adoption. Ethereum will consolidate its grip on the DeFi space, rising with strong capitalization and a substantial increase in the value per coin.
Ethereum Price Prediction 2024
Brian Schuster, the founder of Ark Capital, believes that Ethereum will trade at around $100,000 in 2024.
Ethereum Price Prediction 2025
The next few years will see Ethereum register considerable growth. Current price levels suggest that Ethereum has entered a bull run, and with DeFi projects increasingly settling for Ethereum, the cryptocurrency's value could rise to a level that is difficult to imagine at this time. The growing interest in Ethereum has prompted some experts to predict that Ethereum will maintain a price level between $1000 to $10000 over the next few years.
Top Crypto Investor’s Prediction on Ethereum Price:
1. Crypto Research Report used the equation of exchange model to determine the value of Ethereum. The model predicted that Ethereum would reach $331, but the cryptocurrency surpassed this mark well before anyone expected.
Crypto Research Report has predicted that Ethereum will reach $3500 by 2025.
2. Simon Dedic, the managing partner at Moonrock Capital, has predicted that in the long-term, the price of Ethereum could go up to $9000.
3. James Todaro, the managing partner at Blacktown Capital, said Ethereum could reach a $1 trillion market capitalization. He has also predicted that Ethereum could trade at $9000.
4. WalletInvestor.com, on the other hand, has predicted that Ethereum will trade at around $7,027 by the end of 2022.
5. Brian Schuster has stated that by 2024, we could see Ethereum touch $100,000.
Read More: What Will Drive The Ethereum Price In 2021?
Ethereum Price Prediction: Conclusion
Going by most Ethereum price predictions, the cryptocurrency is set to witness a period of sustained growth. Several factors are driving this growth, mostly the growth of DeFi, Ethereum 2.0, and more projects choosing Ethereum as their platform of choice. This is an ideal time to invest in ETH, enter at a competitive price, and make a significant profit.
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Ethereum Price Prediction FAQs
What Is Ethereum?
Ethereum is an autonomous and decentralized platform that enables developers to develop and launch decentralized applications on its platform. It also allows the use of smart contracts. These smart contracts are executed automatically when a set of predefined conditions are fulfilled. As Ethereum is a decentralized platform, transactions and processes can run without any downtime or interference.
How Is Ethereum Different From Bitcoin?
Bitcoin established a public distributed ledger to validate and store transactions on computers all over the world. Ethereum takes the concept of Bitcoin a step further and uses the blockchain for running computer code. While Bitcoin is a peer-to-peer electronic cash system, Ethereum can run scripts of code as a global computational network.
What Is Ether?
Ether is Ethereum's native currency. Ether is a cryptocurrency, and it also powers the Ethereum network. It is used to pay for transactions and other services on the Ethereum network.
Should I Invest In ETH?
Investing in Ethereum is a smart move as it is a well-established cryptocurrency. However, be thorough in your research and get a good idea of the market trends before investing. Investors who want to diversify from Bitcoin or are looking to invest in cryptocurrencies other than Bitcoin should look at Ether as an investment asset.
Is Ethereum's Price Predicted To Rise Further?
Yes, Ethereum started a bull run in 2021, with the cryptocurrency predicted to appreciate. With more DeFi projects choosing Ethereum as their platform of choice and Ethereum 2.0 addressing Ethereum's scalability problems, the cryptocurrency will see its value surge in the years to come.
What Is The Future Of Ethereum?
The Ethereum platform has the potential to revolutionize the way finance functions. Ethereum's smart contract functionality takes out the middleman from transactions and is self-executable. Ethereum is going to cement itself as the King of DeFi. Ethereum is also switching from a Proof-of-Work consensus mechanism to a Proof-of-Stake consensus mechanism. This upgrade addresses the scalability issues that Ethereum faces.
What Is Ethereum 2.0?
Ethereum 2.0, or Eth2, or Serenity is an upgrade to the Ethereum blockchain. The upgrade will be released in phases, with phase 1 released in 2020. Each phase of the upgrade will improve the functionality of Ethereum.
Is Ethereum A Good Investment?
Ethereum has performed better than nearly all altcoins and Bitcoin. This makes it one of the best investments you can make. Ethereum is all set to surge thanks to the increasing popularity of DeFi, so this is a great time for you to invest in the cryptocurrency and make a significant profit.
Is Ethereum Better Than Bitcoin?
Ethereum and Bitcoin cannot technically be compared as they have different functionalities. Bitcoin is a cryptocurrency, while Ethereum is more than a cryptocurrency. It is an autonomous, decentralized platform that allows for the development and rollout of dapps on its blockchain.