While Ethereum continues to be one of most profitable cryptocurrencies, the current market price is a bit high. The general downtrend in crypto markets has left Ethereum with little to no footing. It lost $3,000 above its critical point, which is crucial for this digital asset. Nevertheless, it seems the future is not at all gloomy for the second-largest cryptocurrency going by reports from a Finder’s panel.
Ethereum to Surge 100%
A recent Finder’s panel made up of industry experts has released an extremely bullish long-term outlook for the cryptocurrency. 36 experts from the industry shared their predictions for the cryptocurrency in the quarterly survey by Finder. Their forecasts indicated that Ethereum could still be at the beginning stages of price growth.
Some of the best feedback was given to the digital asset currently trading at $2,800. The team predicted that ETH’s price would reach $5,783 this year and will grow by another 100% in the coming year.
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“Ethereum will jump from its current price of US$2,810 to US$5,783 by the end of 2022,” the panel said. “The price is expected to continue to rise going forward, hitting $11,764 by 2025 and $23,372 by 2030.”
The bullish outlook for Altcoin is still positive, but it’s more bearish that the predictions. The panel had previously put Ethereum’s price at $6,500 by the end of the year 2022, but the recent quarterly report has seen them adjust this prediction by about 10%. However, they still have a favorable outlook on the digital asset.
However, not everyone shares the same bullish view for ETH. John Hawkins from the University of Canberra is a senior lecturer and he predicts that the price of the digital asset will be below $2,000.
Trending price of Ethereum at 2,800 USD | Source: ETHUSD on TradingView.com
What This Could Look Like
A lot of Ethereum predictions hinge on the next upgrades. The move to the consensus layer that will see the network move to the proof of stake mechanism is an upgrade that is anticipated to bolster the value of the token and Finder’s experts seem to think so too.
Keegan Francis, global cryptocurrency editor for Finder said that the outlook for cryptocurrency in the long term is very grim until upgrades can be made. The network would then be able to scale. However, Francis added that people will continue to buy the cryptocurrency due to “hype, promise, and potential.”
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The largest DeFi platform, the network is not losing market share. However, it is losing so much market share and competition that the editor of cryptocurrency does not feel very confident. “Ethereum is at a very uncertain place in its journey at the moment,” Francis explained. “It is currently losing DeFi (decentralized finance) market share to its competitors.”
Ethereum traded at above $2800 on Tuesday early morning. The price of Ethereum has risen 0.15% over the past 24 hours and is currently trading at $2843 as of the writing.
Featured image taken from CoinQuora. Chart from TradingView.com