Ethereum is the second top-most and famous cryptocurrency in the world. With the growing price and interest, it is considered one of the most influential players in the world of crypto. Ethereum runs on a decentralized platform utilizing proof-of-work consensus algorithms.

Advertisement

What will be the future of Ethereum? Why is it the leading cryptocurrency in the world?

In this article let us try to find out in-depth the technical analysis from inception as well as the price prediction for 2021 and beyond. All your thoughts regarding the investment will be clarified at the end. Now, let us try to have some basic information on Ethereum.

Overview

What Is Ethereum?

Ethereum is a decentralized open-source blockchain underlining smart contract functionality. Ether (ETH) is the native cryptocurrency created by Ethereum miners as a dividend for calculations conducted to protect the blockchain.

The Ethereum blockchain currently accommodates over 260,000 different cryptocurrencies, 47 of which are among the top 100 cryptocurrencies by market capitalization.

Ethereum was suggested in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. The development of the Ethereum blockchain was funded by an online crowdsale conducted between July and August 2014. The network then started to function on 30 July 2015. As of then, 72 million coins were minted. This reports for about 65 percent of the total circulating supply in April 2020.

Ethereum Technical Analysis

2016

ETH began rising steadily in January 2016 and reached a price peak at $15 in March. But the immediately after which, because of the Ethereum hard fork, the price fell two times lower.

For some months, the price of Ethereum fluctuated between $8 and $14. Ethereum was added to its list of backed assets in September by the Ledger Nano S hardware wallet, thereby allowing the coin to hit the $15 price.

Ethereum suffered from a DDoS attack on September 22 and this resulted in the network to get slowed down. This led to a prolonged downward trend that lasted until December. Then By the end of 2016, ETH’s exchange price had peaked at around $7-9.

2017

For Ethereum, 2017 was a bullish year as in the first two months, the coin made a solid run at $23. In March, the price of Ethereum pumped to $53 and then increased to $95 in the next month. Another price push happened in June, with the coin touching $400. This continued until mid-November when the price of Ethereum stabilized at the price range of $270-350.

2018

Meanwhile, Bitcoin was gaining traction over the same time span and hit $20,000 its ATH. Ethereum followed in the footsteps of Bitcoin and soared in January 2018 to its own high of $1,400. The Ethereum price took another jump upwards on January 8th to cross the $1250 mark before collapsing into a swift correction.

The ensuing trends with regard to the ETH price were primarily a reactionary expression of those of Bitcoin, which saw it spinning its tires during the year in a bearish pattern. As a result, Ethereum finished the year well over the price mark of $130.

2019

Ethereum was trading from $100-140 at the beginning of 2019. In April, the first upward trend began. Ethereum began to rise rapidly, tracking the price of Bitcoin and hit $300 in June. ETH was unable to retain these positions, though, and began moving back to its former price marks. Ethereum began increasing again in December 2019 and hit $280.

2020

 Ethereum continued 2020 with its price trading at $143.85 during January.  Progressively, ETH rose to $268.07 by February.  Later, the price of Ethereum declined to $117.48 by mid of March due to the Covid-19 outbreak which resulted in the major downfall of crypto assets.

Further by the end of April, it had returned to its pre-COVID price and reached $200. With certain variations, Ethereum’s price spiked to $459.76 by September and further propelled to $609.75 by the end of November as the expansion of the price rally held by Bitcoin. At the end of December 2020, ETH traded at $706.14.

ETH Price Prediction 2021

Ethereum has effectively claimed a new all-time high in 2021. Most experts are expecting Ethereum’s cost to twofold since another record is set. Nonetheless, the stature of the past base construction is focusing on a 1300% ascent from the mark of the breakout. That would take Ethereum cost to as high as $10,000 per ETH.

Ethereum Price Prediction 2022

Ethereum is expected to have a bunch of partnerships and integrations scheduled for 2022 that might boost the value of Ethereum in the market. ETH might perform effectively if Ethereum 2.0 succeeds. By 2022, ETH might reach $25000, which is quite optimistic.

Ethereum 5 Years Price Prediction

Ethereum might focus on boosting the network ventures and it may concentrate on new projects, developments, and partnerships to enhance the Ethereum network.  By the end of 5 years, Ethereum is anticipated to hit $50000.

Ethereum Price Market Prediction

1) WalletInvestor

According to WalletInvestor, ETH  will decline in 2021 and end up costing about $177. The coin would steadily sink over the next two years. The crypto-currency rate would be around $117 in 2025.

2) TradingBeasts

According to TradingBeasts, Ethereum could hit $236 by the end of 2021. In 2025, Ethereum will witness steady growth and will hit $680.

3) DigitalCoinPrice

According to DigitalCoinPrice, Ethereum might steadily rise to $746 over the next five years by 2025.

4) LongForecast

According to LongForecast, Ethereum would cost between $139 and $184 in 2021. The year 2023 will be more fruitful when they have an Ethereum price of around $553 at the end of the year.

Our ETH Price Prediction

Ethereum is currently reaching new heights. Most experts agree that in 2021 Ethereum price will increase up to $7K. We accept that Ethereum-based ventures and the DeFi market will fortify the ETH position available and give the premise to additional development.

Also, the ETH 2.0 usage can make the innovation and its cryptographic money more alluring. The entire market has a bull run, so the Ethereum cost can show us a new high point toward the end of 2021.

FAQ