Ethereum price predictions: what will ETH be worth?
Ether has had a tough few months, but can it come back? Let us take a look at some ethereum price predictions.
- ETH versus Bitcoin – let battle commence?
- Ethereum price predictions: not just ether
- What will Ethereum be worth in 2021?
Ethereum has been touted as Bitcoin’s successor and there was a time not too long ago where it looked like it might even beat its main rival. In this article, we’ll take a look at what has happened over the last few months, and then we’ll see about some ethereum price predictions.
The cryptocurrency rose more than 30% in the first four days of May, consolidating at the $3,200 to $3,400 range before hitting an all-time high of $4,362.35 intraday on 12 May.
However, things were soon about to come crashing down to earth. The great crypto day crash of 19 May sent a shock through ETH’s price.
It started the day at $3,382.66 and initially went up, reaching $3,437.94 intraday before nearly halving to an intraday low of $1,952.46 and closing the day at $2,460.68. Recovery has been an incredibly slow process since then. It has not reached the $3,000 mark since, and was trading at around $1,850 on July 19.
However, other cryptos have been hit just as hard, if not worse, than ether. Nevertheless, the impact of what happened in the middle of May means that some people have had to change their ethereum future price predictions.
ETH versus Bitcoin – let battle commence?
To put this question into some perspective, bitcoin has a market cap of $578bn and ETH at the time of writing had one of $212bn, although in early May it was worth around $364bn. That means ether has a market cap of a little more than a third of bitcoin.
But ether is playing a commendable game of catch-up. In January 2021, ether was worth less than a sixth of bitcoin, although there was less than 50% between BTC and ETH at the start of May. However, there could potentially be room and space for ether to narrow the gap.
Despite the recent losses, ETH has still shown some significant gains over the past 12 months, especially considering that it was hovering around the $300 mark in late July 2020.
Even so, an investor who bought $10-worth of ETH five years ago when it was priced at around $7 would have seen their investment grow to around $2,000.
Ethereum price predictions: not just ether
One of the reasons why Ethereum has done well in the past is its versatility.
Katharine Wooller, MD of the crypto digital asset exchange Dacxi, said Ethereum is quite simply “not just a currency”.
While Bitcoin is a decentralised currency, Ethereum is a technical platform that runs the ether cryptocurrency, Wooller said. Ethereum also does much more by building decentralised apps and using smart contracts.
Because it is a complex payment system it has an infinite supply, against Bitcoin’s finite supply, which does appear to trump Bitcoin in terms of potential longevity.
An example of Ethereum’s versatility, Wooller said, was the growing use of non-fungible tokens, or NFTs. NFTs allow digital artwork to be sold, transferred and stored on the Ethereum-powered blockchain.
Issues with ETH’s security have also been taken on board by Ethereum, which has only increased confidence in the currency.
Something that could have an impact on ethereum price expectations is the upcoming hard fork. This will take place on 4 August.
The hard fork is part of the build-up to the Ethereum 2.0 project, and is designed to help ETH move from being “proof of work” to “proof of stake”. It will help make the crypto less inflationary and will slowly increase the difficulty of mining ether, in preparation for the move to proof of stake.
ETH/USD price history
|Sep 26, 2021||2828.51||-94.36||-3.23%||2922.87||2933.52||2821.33|
|Sep 25, 2021||2923.06||-7.82||-0.27%||2930.88||2969.89||2803.27|
|Sep 24, 2021||2930.89||-224.02||-7.10%||3154.91||3161.56||2733.17|
|Sep 23, 2021||3155.16||76.46||2.48%||3078.70||3175.95||3035.72|
|Sep 22, 2021||3078.89||312.78||11.31%||2766.11||3090.70||2737.25|
|Sep 21, 2021||2765.54||-211.61||-7.11%||2977.15||3106.16||2651.04|
|Sep 20, 2021||2977.14||-352.25||-10.58%||3329.39||3347.25||2910.07|
|Sep 19, 2021||3329.19||-107.57||-3.13%||3436.76||3457.23||3279.57|
|Sep 18, 2021||3436.58||35.87||1.05%||3400.71||3542.84||3368.30|
|Sep 17, 2021||3399.95||-168.39||-4.72%||3568.34||3595.83||3360.84|
|Sep 16, 2021||3568.74||-46.69||-1.29%||3615.43||3677.55||3482.77|
|Sep 15, 2021||3615.63||180.29||5.25%||3435.34||3617.88||3358.82|
|Sep 14, 2021||3435.49||149.61||4.55%||3285.88||3439.13||3270.66|
|Sep 13, 2021||3286.33||-118.29||-3.47%||3404.62||3430.78||3110.24|
|Sep 12, 2021||3404.25||136.91||4.19%||3267.34||3473.79||3230.60|
|Sep 11, 2021||3267.87||59.17||1.84%||3208.70||3348.63||3199.42|
|Sep 10, 2021||3208.71||-215.28||-6.29%||3423.99||3515.04||3150.43|
|Sep 9, 2021||3423.86||-75.38||-2.15%||3499.24||3570.89||3392.91|
|Sep 8, 2021||3498.54||62.28||1.81%||3436.26||3561.29||3214.11|
|Sep 7, 2021||3436.27||-491.96||-12.52%||3928.23||3949.13||2998.74|
What will Ethereum be worth in 2021?
Anyone making ethereum price predictions for 2021 and beyond may well be of the opinion that it is ETH’s versatility which gives it the potential to surpass Bitcoin. It can work across a wide range of applications, from transactions for financial services through to digital ledgers across many industries.
But critics note that Ethereum has become far slower and more expensive, and that a transaction can take hours with a cost (or gas fees) of up to $40.
If we look at what ethereum price predictions some analysts are making, we must always remember that predictions are not set in stone. It is entirely possible, if not altogether likely, that these ethereum price predictions could well end up being quite a bit wide of the mark.
As with all financial decisions, it is up to investors to do their research, and keep watching this space.
WalletInvestor has one of the most bullish ethereum price predictions, claiming it can reach $3,903.01 in a year’s time and as much as $12,086.30 in five years.
Meanwhile, DigitalCoinPrice says that it should get to around $2,823.08 at the end of the year and rally to break through the $3,000 barrier to settle on an average of $3,305.90 in February 2022 before going down slightly to stand at $3,162.77 in July 2022.
A year from that, it suggests ETH should reach $3,716.16 and July 2024 will see it get to $4,165.27, down from the previous month’s average of $5,319.54. July 2025’s prediction is $6,034.62 and 12 months on it should reach $6,583.18. 2027 will see a dip in fortune, with ETH going down to $5,539.87 in July of that year. A year from that will see it stand at $8,356.01 and it should close 2028 at around $8,351.27.
Meanwhile, gov.capital believes ether will close 2021 somewhere around $2,169.52. It will get to around $2,856.31 on 20 July 2022 and a year on from that will see it in the region of $4,117.58. On 20 July 2024, the site predicts it will be around $5,783.39 and 12 months later it will be around $7,457.55. On 20 July 2026, gov.capital estimates ETH will be worth around $9,388.74.
While these predictions are encouraging, you still need to be careful. It is always possible that there could be another significant cryptocrash which no one predicts.
When it comes to investing in ether, do your own research, remember that the highly volatile cryptocurrency market can go down as well as up, and that you should never invest more money than you can afford to lose.
It’s possible. Nearly all cryptocurrencies have increased in value, largely as a result of their adoption by some financial institutions. But it is the larger currencies such as ETH that are more in favour. The rate of growth in the past 12 months suggests it is on track to rise in the next 12 months. It may dip but it wouldn’t be a shock to see ETH surpass the $5k mark within six months. However it is likely to retrench at some point.
Some retrenchment is likely and enthusiasm for Ether may tail off as investors look for the next big event. But whether it falls back as far as $1,000 is more questionable than whether its value dips back sub $3,000.
This will depend on how much volatility investors can cope with and how developed the cryptocurrency market becomes.
Cryptocurrencies that can offer the necessary infrastructure to fuel social and economic change may fare better in value than those that don’t. Investors who are not happy with volatility may be best staying clear of Ether for now.
ETH’s relative liquidity should serve it well. It remains as good a value as the number of people prepared to trade tokens, which at the moment is not a problem. It’s only a good buy if investors accept they may lose all their money, or if they have money they can afford to invest (and lose).
Will ETH price go up or down?
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