Ethereum started 2021 strong by reaching a new all-time high of $2036 on February 20, 2021. WalletInvestor predicts that Ethereum could hit the $3000 mark by November 2022. CoinDesk similarly forecasts that ETH might also hit $3,245 in February of 2022.
Long Forecast on the other hand predicts a more optimistic forecast and expects Ethereum to reach a price of $3129 in June 2021. These are among many predictions from investors and sources alike, that collectively estimate an approximate one to two years for Ethereum to climb to $3000 in value.
Can Ethereum Reach $10,000?
Many crypto analysts say that, after breaking through its previous all-time record, Ethereum might not only be able to hit $10,000 but could also be able to reach values much higher than that.
Strategist David Grider, says that Ethereum could reach $10,500. Grider bases his claim on the fact that the Ethereum blockchain is the leader in Decentralized Finance (Defi), consequently having great potential for a price increase.
Ethereum’s current market cap is at $205.45 billion as per CoinMarketCap. Analysts note that in order for ETH to reach $10,000 it would have to reach a $1.1 trillion market cap. If the rapid growth trajectory, mainly due to Ethereum’s DeFi technology continues to thrive, it may as well reach such ambitious levels in the near future.
Can Ethereum Reach $20K?
CEO of Real Vision Group and Wall Street veteran Raoul Pal is confident Ethereum might hit its $20K target as it follows Bitcoin’s footsteps. Around the same time, Ethereum’s market capitalization is rising more than Bitcoin’s, according to Pal. The former Goldman Sachs employee predicted that Ethereum could reach $20,000 in this bull run, similar to what Bitcoin did in the previous one.
Ethereum is anticipated to have a slew of collaborations and new developments planned for 2022. This will allow for potential growth in Ethereum’s market value. Moreover, crypto news source Coinpedia notes that if Ethereum 2.0 succeeds, ETH will without a doubt reflect in its price. They also predict that by 2022, the coin may hit a high of $25,000.
Read More: Ethereum Price Predictions
Will Ethereum Overtake Bitcoin?
According to Yahoo Finance, ETH has outperformed Bitcoin with a nearly 750% return since January 2020. They also note a number of technical benefits Ethereum has over its Bitcoin and altcoin counterparts. For instance, Ethereum functions more like a bond than a coin. Speed is another factor where Ethereum outtakes Bitcoin. Ethereum on average can produce 10 to 15 transactions per second, whereas Bitcoin can only do about 3 to 5.
However, smart contracts - the concept most closely identified with the Ethereum blockchain - are the big point that distinguishes Ethereum from Bitcoin. Smart contracts are digital contracts for a wide range of users. If Ethereum eventually overtakes Bitcoin, it will take several years for that to happen.
Check Out: Bitcoin vs Ethereum
How to Buy Ethereum?
Here’s a 3-step guide on how you can purchase Ether with your fiat money:
1. Select and Register with an Online Crypto Brokerage
Compare the features of a number of exchanges that list ETH prior to deciding on the right platform depending on your personal needs. eToro is one of the most trustworthy crypto brokerages with a user-friendly interface and multiple tools to make your buying process easier.
To sign up for an eToro account, simply go to the eToro homepage, and press “Join Now.” You’ll then be asked to complete a registration form asking for your full name, email address, password, and phone number. You also have options to sign up using Gmail or Facebook, which can save you some time. After that, you’ll be asked to validate your account, at which point you’ll need to submit a proof of identity (POI) and proof of address (POA).
2. Add Funds to Your Account
You will fund your account after you’ve finished signing up. To do so, go to the lower-left side of the screen and click on “Deposit Funds,” which is highlighted in blue. Bear in mind that eToro’s minimum deposit is $200. eToro also accepts a variety of payment methods, including Paypal, credit/debit cards, and UnionPay.
3. Buy ETH
Now, tap on the search bar and select “Crypto” from the “Trade Markets” section of the navigation bar to purchase ETH on eToro. This page will display a list of all the cryptocurrencies available on eToro. Then select Ethereum.
You’ll have the opportunity to adjust your trade parameters after clicking “Buy.” In the top right corner, you can choose between “Trade” and “Order.” You’ll be putting a market order if you “Trade” (settling at the best available deal). If “Order” is selected, you’ll be able to choose the price you want to pay. When you’re comfortable with your choices, click “Open Trade.”
Does Ethereum Have a Future?
There’s no question about what direction Ethereum is headed. Many experts are seemingly waiting for Ethereum to grow significantly in 2021. It is true, however, that cryptocurrencies are known for their volatility. Nonetheless, Yahoo Finance claims that ETH could easily double to $2,500 in 2021. This prediction is also supported by finance and crypto experts globally.
Clem Chambers, from Forbes, says that a “chronic rise in transaction costs in dollars drives the long-term value of the coin (ETH) up in dollars.” Therefore the future of Ethereum in all likelihood will be bright since as stated above, crypto analysts believe that ETH may have a drastic increase in price.
eToro – The Best Platform to Buy Ethereum
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Virtual currencies are highly volatile. Your capital is at risk.
- Many long-term market forecasts say that Ethereum may not only be able to hit $10,000 but could also be able to reach values much higher than that.
- CEO of Real Vision Group and Wall Street veteran Raoul Pal is confident Ethereum could hit its $20K target as it follows Bitcoin’s footsteps.
- According to Yahoo Finance, ETH has outperformed Bitcoin by growing almost 750% since January 2020.
- There are three steps to buy ETH; create an account with eToro, deposit your funds into your account, and purchase your Ether.
- Clem Chambers, from Forbes, says that a “chronic rise in transaction costs in dollars drives the long-term value of the coin (ETH) up in dollars.”
- The future of Ethereum in all likelihood will be bright since as stated above, crypto analysts believe that ETH may have a drastic increase in price.