Ethereum Price Prediction, Will Bulls take ETH Price to $5000?

Ethereum is the second most popular cryptocurrency, after Bitcoin. But unlike Bitcoin and other altcoins—Ethereum is intended to be much more than simply a medium of exchange or a store of value. Instead, Ethereum calls itself a decentralized computing network built on blockchain technology.

The Native token of the platform is Ether (ETH). It was designed to be used within the Ethereum network. However, like Bitcoin, ETH is now an accepted form of payment by some merchants and service vendors.

Will Ethereum emerge to stride to new highs anytime sooner? On a long-term forecast, what’s in the store for Ethereum Price Prediction and its users? Everything about ETH price, updates, and the latest buzz is just a read away!

Overview

What is Ethereum (ETH)?

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

Suggested in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer Ether gained wide popularity. The development of the Ethereum blockchain was funded by an online crowd sale 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.

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Fundamental Analysis

Ethereum operates using decentralized blockchain technology to create Decentralized apps and also make agreements, called smart contracts that run on computer codes and can is operable without a third-party intervention. Often referred to as Decentralized finance, DeFi, with powering Non fungible tokens, the proof of ownership remains at the mark for the network.

The Ethereum Blockchain currently accommodates over 2,60,000 different cryptocurrencies, 47 of which are among the top 100 by market capitalization. The network follows a peer-to-peer mechanism! You can easily make agreements through smart contracts, and shift money to anyone around the world!

Currently, the network is capable of processing just 15 to 45 transactions per second, which has been a major setback since the advent. While the upcoming altcoins have skyrocketing per sec transaction figures, Ethereum is still far behind. 

With Elon Musk and many other crypto celebrities calling off the PoW mining process because it generates high carbon footprints, the Network has planned to shift the same to PoS. The platform ensures the ETH 2.0 upgrade to be more scalable, secure, and sustainable. A 100% energy efficiency is one of the notable outcomes to expect!

Beacon chain, the mechanism behind the up gradation and the next phase of update would merge with the blockchain network and called the Mainnet. Being the most awaited phase, the transition might happen soon! On a successful launch, the network can process up to 100,000 transactions per second. 

Using ETH as collateral to yield other digital assets powered by the platform is gaining increased popularity among many users. Also, one can earn huge profits on staking Ether. Moreover, this helps to secure the platform and earn rewards.

Ethereum Price Prediction 2021

This year has been the bullish year for Ethereum, where it resumed trading with $737.71 on January 1 and surged touching its $1000 juncture in no time. The ETH price hit $2,000 in February’s cryptocurrency rally and moved back above that level in April. It then soared to a record high of $4,380 on 12 May 2021, a gain of 500% from the start of the year.

The market crashed on May 19 causing a short setback to ETH price where it fell to near $1,782.57. Despite a nearly 50% crash, the asset slowly recovered further. After quickly recovering its losses the ETH price fluctuated in the range of $2,000 and $2,700 until the end of July.

The Month Of August loaded With Upgrades Seems to be Bullish for Ethereum. EIP-1559 London hard-fork launched on August 5th, 2021. Investors positioned themselves for the upgrade and expected rally pushing Ethereum above $2,700. As expected Ethereum is on track now, with a study rise the price skyrocketed by 70% from $2800 to $3808.64 at the press time. 

With further improvements, the advent of Ethereum 2.0, that promises the price may rise consistently throughout the year. However, if ETH Price manages to outgrow Bitcoin, it might smash a high of $4500 to $5000 this year-end. 

 Also, if Ethereum fails to improve its scalability and falls prey to any bugs, the ETH market can collapse with price dipping even up to $2417.88 by end of the year. Thus, By the end of 2021 Ethereum Price can hit a Potential High above $5000 and a Potential Low at  $2417.88.

ETH Price Prediction 2022

If Ethereum hits the predicted high as this year closes, it may commence the year 2022 with the same bullish trend with a trading price between $4816.55 and $5000. In contrast, if it hits the minimum values as this year ends, the price will resume in 2022 being bearish and may be seen at $2428.96 by January 2022.

The price may surge significantly with certain variations throughout the year if ETH might concentrate more on its developments and scalability issues. If the network successfully upgrades ETH 2.0 matching users’ expectations, Ether’s price may hit as high as $15962.33.

If the network manages to carry over the current investors to the following year successfully, with no significant updates and usual buy and selling pressures, ETH might trade at $5311.98 by the end of 2022.

And if the market collapses and makes bears outgrow the bulls anytime, the price may plunge substantially and strike a low of $4629.12. However, it can recover quickly and hit the $5000 range in a short time span after the crash.

5 Years ETH Price Prediction

If the ETH ecosystem focuses on boosting the network ventures, it may concentrate on new projects, developments, and partnerships to enhance the Ethereum network. If scalability is up to the mark, and ETH 2.0 becoming user-friendly, by the end of 5 years, ETH Price is anticipated to hit $25,757.41.

With newer updates related to Ethereum 2.0 like abandoning the PoW, most investors are likely to stick to the network and let ETH trade at around $11,010.03 or more. However, in case of a possible crash occurs due to any possible regulations can cause uncertainty that may cause the ETH price to fall substantially to $8521.63.

ETH Market Prediction

1) WalletInvestor:

According to WalletIinvestor’s algorithm-based forecast, they have revised their forecast for the coming year’s average price to $3416.140. They believe that Ethereum is highly profitable and estimate the long-term earning potential for the crypto to be +71.34% in one year.

2) TradingBeasts:

TradingBeasts predicts a reasonable prediction year on year without much volatility. The analyst of the platform predicted the price to hit $25415.14  which is a revised update of their previous prediction of $2513, by the year-end.

3) DigitalCoinPrice:

According to DigitalCoinPrice, Ethereum might steadily rise to $3591.69 by the end of 2021. In the coming year, the price will surge to $4587.07, which is roughly twice its current price.    

4) LongForecast:

According to LongForecast, Ethereum would cost between $3127 and $3627 by the end of 2021. The price change is estimated to be around 34% by December.

Our Price Prediction

Ethereum may continue the price rally and might reach newer heights. The altcoin would focus on enhancing the security of the users. According to Coinpedia’s formulated Ethereum price prediction, it may hit $5000.12 by the end of 2021.

On the other hand, price fluctuations, increasing FUD among investors, or lack/failure of updates can be a possible setback for the crypto, and thereby the ETH price may see a dip around $2416.70 by the year-end.

Using the table below understand what is possible in terms of highs and lows.

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Historic Price Sentiments

2016

ETH began rising steadily in January 2016 and reached a price peak at $15 in March. But 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 getting slowed down. This led to a prolonged downward trend that lasted until December. 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

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.

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. Moreover, the much-awaited ETH 2.0 Beacon chain went live on December 01, and many expected the price would propel above $1000, yet in contrast, the price dropped miserably. However, at the end of December 2020, the ETH price recovered a little and traded at $706.14.

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