Ethereum is a cryptocurrency protocol that’s vastly different than Bitcoin, Litecoin, or other payment technologies, giving it additional value and potential. This guide helps understand that potential value through price predictions from experts and analysts alike.
Ethereum is vastly different from other cryptocurrencies such as Bitcoin, Litecoin, or even Ripple. Ethereum is a blockchain protocol for smart contracts, and Ether, also called ETH, is the native cryptocurrency that powers the Ethereum blockchain.
Ethereum runs smart contracts on what it calls the Ethereum Virtual Machine, which is essentially a supercomputer built on the blockchain. Because of its unique structure and being the first of its kind, Ethereum price predictions can be extremely high, with so many investors and industry experts believing in Ethereum growth in the long-term.
Ethereum projected growth as a network is also high, as the blockchain is not only used for smart contracts and transactions, but actual crypto assets are often built on Ethereum’s blockchain, giving it added value as speculation around the future of the crypto market is positive.
Because there is so much positivity surrounding cryptocurrencies and Ethereum potential is so high, many are left wondering “will Ethereum rise like Bitcoin,” and “how high can the price of Ethereum go?” This Ethereum price prediction guide will help paint a clear picture of estimated growth and the projected value of Ethereum over the years.
What is Ethereum?
Following the success of Bitcoin, a young programmer named Vitalik Buterin became interested in the new financial technology and decided that the idea and concept could be improved upon and serve additional purposes beyond just a payments technology.
Ethereum’s blockchain can run smart contracts, or computer code designed to run a certain way autonomously. Thus far, smart contracts have been primarily used to run dApps – also called decentralized applications – such as CryptoKitties and others. The smart contracts have been programmed to act as a sort of trophy, proving ownership. This is unique in the world of digital technologies, as it allows the owner of the said trophy to transfer ownership using the smart contract via the Ethereum blockchain.
Development was entirely funded by a crowd sale, that resulted in 72 million pre-mined coins reaching the hands of long-term holders.
In 2016, an exploit in The DAO project – a decentralized autonomous organization – resulted in over $50 million worth of the Ethereum supply being stolen. Ethereum was later split into two separate blockchains, resulting in the new version becoming the true Ethereum with the ETH coin ticker, while the original blockchain continued on as Ethereum Classic with the ETC coin ticker.
Buterin did indeed create Ethereum and penned its whitepaper, many are credited with being founders of Ethereum, including Anthony Di Iorio, Charles Hoskinson, Mihai Alisie, Amir Chetrit, Joseph Lubin, Gavin Wood, and Jeffrey Wilke – one of the largest lists of founding members out of any crypto project.
Later, the Enterprise Ethereum Alliance was founded to help develop standards for use across the Ethereum blockchain, such as the ERC-20 standard that is used to develop new tokens operating on the Ethereum protocol.
Everything To Know About ETH in 2021
It was actually Ethereum’s ability to help launch new crypto projects as ERC-20 tokens via what was called the initial coin offering, an early way for projects to raise capital via crowdfunding where the investors received a portion of the coins for their initial investment.
Much of the new tokens created could only be invested in through an exchange of Ethereum, which caused the asset’s price to skyrocket at the height of the crypto bubble by retail investors seeking to strike it rich by finding the next Bitcoin at its earliest investment stages.
However, the crypto hype bubble popped, and many of the projects built on Ethereum failed due to no fault of Ethereum’s. However, the negative sentiment surrounding other altcoins and these new ICO-born crypto tokens, caused Etheruem’s price to fall as well.
Ethereum started its life much under $1 and was only spare changed per ETH during the crowd sale. In just a year’s time, it reached a high price of $1,448 driven largely due to the ICO boom, and was extremely profitable for early investors.
After regulators began to crack down on ICOs, calling them unregistered securities sales, Ethereum was used less and less for this purpose. However, this was due to the ICO boom ending and not due to Ethereum’s long-term price potential or projected growth.
Aside from ICOs keeping the price going down, ETH news has been otherwise extremely positive, and speculation suggests that Ethereum future is incredibly bright and will perform successfully as an investment asset, and has a solid long term value projection.
However, by far the biggest potential for Ethereum is the massive growth of decentralized finance, also called DeFi. The DeFi trend has exploded to include thousands of new tokens and projects which all rely on the blockchain.
This has dramatically increased the demand for Ethereum in recent months and has helped the altcoin set a new all-time high at above $2,100. This is just the start of Ethereum’s next bull run, with not just DeFi driving demand, but also NFTs and Ethereum itself.
Ethereum Experts See Strong Future Potential in ETH
Ethereum is among the most interesting pieces of technology ever to exist and has garnered the support and interest from some of the best and brightest entrepreneurs of the tech and finance industries. Here’s just a sample of some of the industry experts who believe that Ethereum price will go up.
Simon Dedic, Co-Founder of Blockfyre and Managing Partner at Moonrock Capital
This venture capitalist and blockchain investor sees a bright, long-term future for Ethereum and estimates the asset could someday be worth as much as $9,000 per ETH token. He also sees Bitcoin at $150K and Link at $200 per token at the same time Ethereum reaches such prices.
James Todaro, Managing Partner at Blocktown Capital
Another crypto capitalist James Todaro, Managing Partner at Blocktown capital, also sees Ethereum at $9,000 per token but doesn’t make that call outright. Instead, the investor says Etheruem will reach a $1 trillion market cap due to the surge in decentralized finance. It just so happens that based on math and the Ethereum supply, this sums up to $9,000 per coin, matching Dedic’s prediction.
Retrospective: Past Ethereum Predictions That Got It Right?
Although making accurate predictions is difficult, many have actually done it and had their forecasts come true. Most of the predictions have been smashed by these unstoppable crypto assets, which suggest that despite lofty future predictions, they are very well possible.
Andrew Keys, Director of Communications, ConsenSys
In an interview with CoinDesk, Andrew Keys, director of communications at ConsenSys and co-founding member of ConsenSys Enterprise, predicted that Ethereum would reach a price of $1.15 by 29th February 2016. Two weeks into 2016, the prediction came true and it started off a parabolic rally that took the asset to over $1,400.
Mike Novogratz, Galaxy Digital Founder and Hedge Fund Manager
Billionaire Bitcoin bull Mike Novogratz had called for Ethereum to rise by 25% in late November, despite the asset rocketing to a then-high of $425. Not only was he right in saying it would happen before New Year’s Eve in 2017, but it had also risen over 50% instead. Into the first couple weeks of the new year, Ethereum kept going, reaching an all-time high of $1400 and rising over 200% from Novogratz’s prediction.
Ethereum Historical Price Facts
Unlike Bitcoin or Litecoin, Ethereum’s supply isn’t hard-capped and additional Ethereum can be created. Ether has a market price currently of roughly $2,000 down from the new all-time high set in 2021.
Ethereum has only been in the market for a few years and lacks much price history, which is part of the reason that it was able to retrace to the current lows – bullish support as never built during its parabolic rise in 2017. But as Ethereum forecast improves again, and as its price increases, it will build support and the only questions remaining will be “will reach 10000 dollars,” and “will Ethereum rise like BItcoin?”
Long-term price predictions suggest that not only can Ethereum reach 10,000 dollars, but it will also reach prices well above that in the future after breaking above its previous all-time high.
Ethereum Price Technical Analysis and Price Predictions
While anyone can see that Ethereum as an investment holds much promise and will surely reward investors with all the support and potential ETH has, it’s not always clear exactly what prices that Ethereum may reach and when. Technical analysis from the industry’s best analysts has been gathered to help understand if some of the price predictions from experts match what the charts are saying.
Ethereum Price Predictions 2021
Ethereum has already claimed a new all-time high in 2021, and sky is now the limit it seems. There is still risk of a double top pattern if a severe correction happens at current levels, but a breakout higher is due any day. Most analysts are expecting Ethereum price to double now that a new record is set, however, the height of the previous base structure is targeting a 1300% rise from the point of breakout. That would take Ethereum price to as high as $22,000 per ETH.
Ethereum Price Predictions 2022 – 2023
Ethereum is following alongside an early Bitcoin fractal, showing similar investor behavior and price patterns. Bitcoin tripled bottomed, while Ethereum has formed a double bottom. A similar trajectory as Bitcoin’s would take the price per Ethereum to as high as $70,000 per coin at the peak of the next bull market.
Ethereum Price Predictions 2024 – 2025 and Beyond
Continuing to follow along with Bitcoin’s trajectory isn’t all positive for Ethereum. Continuing the roadmap the fractal presents would take Ethereum to another bear market come 2024 and begin to break out starting in 2025 into a new bull market once again.
Conclusion: Is Ethereum a Good Investment and How Much Will ETH Be Worth?
There’s no denying that Ethereum is a very special technology that could completely change the world as more and more is built on top of the smart contract focused protocol. Due to this, experts and analysts are both expecting Ethereum projected growth to reach extreme highs. It is currently trading at about $2000, down slightly from the new peak set in 2021.
Using the table below, you can get an easy top-down look at the minimum and maximum price forecast for Ethereum and use it to understand what is possible in terms of highs and lows.
|Year||Potential High||Potential Low|
|2024 – 2025||$70,000||$3,500|
With the asset’s price rising and falling to such highs and lows, Ethereum is an especially great asset for traders who can take advantage of these price swings with a long or short position.
Traders can take advantage of such tools provided by trading platforms like PrimeXBT, and open positions with up to 100x leverage on either the ETH/USD pair, or the ETH/BTC pair.
PrimeXBT offers Ethereum alongside other popular cryptocurrencies Bitcoin, Litecoin, Ripple, and EOS, as well as traditional assets such as the most popular forex currencies, commodities, stock indices, and spot contracts for gold and silver.
With Ethereum showing so much promise, having the support from the entire crypto development industry, and is lauded by industry experts and technical analysts alike, it’s easy to understand why Ethereum can be a great investment given the expectations and predictions of not only its price but its potential as a technology.
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