With a price rise of approximately 330 percent in the past year, Ethereum was one of the top crypto currencies. However, Ethereum prices plummeted 70% after reaching a new record of $4.847 in November 2021.
Ethereum – $7k
While ETH’s great ROI and strong trajectory led to a lot of high price projections for the coin’s future, many of those were invalidated by the recent downturn. The prospect of a dramatic rise in ATH appeared to vanish when the crypto market fell below $1.5 trillion on January 24. Nonetheless, given Finder’s projection of an Ethereum year-end price close above $7000, these hopes were reignited recently.
Starting this year, Ethereum’s price, like the rest of the crypto market, appeared to be on its knees, with lows at $3673. For the time being, Ethereum’s 2022 trajectory appears to be primarily bearish, with the asset now trading at $2,919 at press time.
USD/ETH trades starting at $2900 TradingView
Despite the recent drop, Ethereum’s price is predicted to hit $7,609 this year, according to Australian fintech Finder’s panel of 33 crypto experts, before ending the year at approximately $6,500.
Intriguingly, the firm’s recent estimates for 2025 and 2030 were 30% and 48% lower, respectively, than its predictions from October last year.
ETH price prediction. Source: The Finder
In addition, the panel anticipated that Ethereum’s price will reach $10,810 by the end of 2025 and $26,338 by the end of 2030 in the long run.
Furthermore, 79% of the panelists feel that Ethereum’s transition to a proof-of-stake (PoS) model would result in a price gain, while 11% believe that it will result in a price decline due to persistently high gas fees and scalability difficulties.
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Directions to the ETH price
The Finder panel seems to be bullish on ETH’s worth, and if the above prediction comes true, ETH’s value will have increased by almost 100% by the end of the year.
However, Longforecast data predicted a $2721 price in December 2022. This was too low. This may be due to ETH’s short-term performance and high correlation with BTC, which has caused ETH to fall when BTC falls. The price of ETH fell 5% over the past week, but BTC’s price was up only 2%.
For the time being, with ETH’s trajectory still looking uncertain, it appears that the price of the cryptocurrency may continue to consolidate in the short run. However, given Ethereum’s network growth, the $7K price projection does not appear to be far-fetched.
Ethereum seems to have a long-term future as its hash rate keeps rising, reaching new record highs and a staggering 240% increase since the start of 2021.
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Featured image taken from Pixabay. Chart taken from Tradingview.com. Finder