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How high will ethereum go? | ethereum price prediction
24 June 15:24
Ethereum is currently the most feature-rich blockchain in the world. Being the original facilitator of smart contracts, Ethereum has spawned off products like NFTs and DeFi applications, which are worth billions of dollars as individual markets. Presently, Ethereum has the second-highest market cap out of all cryptocurrencies, rivaled only by Bitcoin itself.
During the latest bull-run, Ethereum hit an all-time high of $4,300 per coin. This hike made its founder, Vitalik Buterin, the second-youngest tech billionaire for a while. Shortly after, however, the market witnessed a massive sell-off, fueled by growing environmental concerns about Bitcoin and regulatory crackdowns by disapproving governments. Ethereum plunged over 40% from its peak in its wake, dropping as low as $1,750 before stabilizing at around the $2,500 mark.Now(6/24/2021) Ethereum price is $1,950. So what can we say about Ethereum’s future? Let’s discuss.
How high can Ethereum go?
Presently, more development is being done around Ethereum than any other crypto coin. Since the beginning of the year, all significant NFT drops by artists and influencers have been based on Ethereum contracts. Furthermore, with the coin being approved for the futures market by the Chicago Mercantile Exchange (CME) in April 2021, one can now buy Ethereum derivatives besides the actual currency. All these financial products are readily available on gate.io.
So what do the forecasts say? For starters, people had highly bullish outlooks on Ethereum when the bull-run was ongoing, but their expectations have since been tempered. No one saw the crash coming the way it did, but Ethereum has made significant gains regardless.
In the short term, FX Street believes that Ethereum will end the month of June 2021 at $2,800. In the slightly longer term, Digital Coin predicts that the price of Ethereum will reach $3,700 by the end of 2021 and march on to $4,650 by the 2022 year-end.
On the other hand, Wallet Investor, an algorithm-based market forecaster, says that Ethereum will complete 2021 at $2949.99, which is significantly more conservative than other prediction services. However, its data also suggests an upturn by 2022, putting Ethereum’s price at $4512.71 to round out the following year.
Talking about decade-long predictions, Digital Coin pegs Ethereum to climb as high as $8,047 by the end of 2025 and $11,671 in 2028. Wallet Investor predicts the crypto to touch $9,202 by 2025.
Overall, the future of Ethereum looks bullish. Most estimates suggest a price in the ballpark of $10,000 for Ethereum in the coming 4 - 5 years. Of course, as with any form of predictive analysis, all information should be taken with a pinch of salt. Market-moving events such as the wide-scale adoption of DeFi or the features introduced in Ethereum 2.0 can drastically affect Ethereum’s price trajectory. In the end, one can only hope that the coin exceeds expectations.
Conclusion
Ethereum is a good asset to invest in for the long term. With a steadily growing derivatives market and a blockchain backed by a strong development team, HODLing ETH is not a bad idea for a long time
You can buy and sell ethereum on gate.io, which offers you all the tools you need to make your investment process seamless and well-informed.
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