What is Ethereum?
Blockchain, for purists, represents perfection, efficiency, independence, and transparency. These are ideals on which centralized systems are supposed to be built. However, that has not been the case. The failure of banks to protect the user was incensing and led to the creation of Bitcoin, the most dominant in the crypto market.
Bitcoin, the most valuable digital currency, isn’t perfect. One can be its own bank through it but that’s about it. This led to Ethereum. But Ethereum is much more than Bitcoin in terms of utility, adaptability, and speed. While speculators forecast that Bitcoin will be a store of value, supply and demand indicators reveal that Ethereum will likely morph into a world computer.
Ethereum technical analysis and price history (2015-2020)
By August 2014, Ethereum had raised $18.4 million via an initial coin offering. They completed their test net, Olympic, in May 2015 and went live two months later in July 2015 with Frontier. But the first true “stable” Ethereum was Homestead which was activated roughly a year later in March 2016.
Because of developers’ forecast and a prediction of a future shaped by the pure utility, a noteworthy development in Ethereum’s history is the DAO hack of June 2016. On that day, 15% of the network’s flexible total supply was siphoned because of an Ethereum vulnerability exploit. This theft depressed ETH price but soon after, the price recovered, performing spectacularly over the years.
Because of difference in ideology-and whether the best course of action was to recover stolen coins through a change in consensus, or hard fork, formed Ethereum Classic.
Code-improvement-wise, there has been a major milestone. The first was Homestead, but it wasn’t until 2017 when Byzantium was activated. Later Constantinople and Saint Petersburg saw the hardening of Ethereum miner rewards, the introduction of code that reduces the cost of smart contracting, and other features while the Ethereum network transits to Ethereum 2.0, whose game end, Serenity, could cement Ethereum as a leader in smart contracting and dApp deployment. Most of these features were implemented a year later in 2018 with blockchain technology
Underpinning Ethereum is a system of decentralized open-source nodes as it is built or derived on some bits of Bitcoin’s source code. The key distinction is the introduction of a Turing complete virtual machine and smart contracts that enable the execution of code once certain on-chain conditions are met between the two transacting parties.
Because of smart contracts, the development world hasn’t been the same. An Ethereum smart contract is nothing more than a piece of self-executing code that once executed is irreversible, open, and immutable. Like Bitcoin, Ethereum runs on its blockchain and has its native currency, Ether (ETH), and its own programming language, Solidity. While there are Ethereum tokens that comply with different standards, ERC-20, ERC-1155, or ERC-721-Non-Fungible Tokens (NFT), all fees are paid in Ethereum (ETH).
Ethereum ushered in new financing models in initial coin offerings, ICOs, immutable dApps, and most recently, decentralized finance (DeFi). DeFi democratizes finance, is open, and owners of Ethereum can borrow in exchange for a stable coin, or earn interest when they lend out their stash.
Even though Ethereum is a success and Ether-a digital currency, valuable, it faces a challenge of scalability-because of too much use, and the Proof-of-Work (POW) consensus model, Vitalik Buterin claims, is energy-intensive. Combined with other factors, this could make it hard to make Ethereum forecasts. There are several Ethereum proposals forwarded to resolve this.
The consensus is that the Ethereum network will shift from a Proof-of-Work to a Proof-of-Stake consensus model which supporters say is energy efficient, secure, and there are additional revenue streams from staking.
Top crypto traders’ and publications’ predictions on Ethereum price
The liquidity depth of Ethereum and what developers have in mind to resolve scalability make Ethereum a topic of discussion across social media platforms. There are Ethereum speculators angling to clip volatility and profit but amid them are true Ethereum holders and believers.
Price predictions range from outrageously high to low causes disbelief. Nonetheless, the Ethereum crypto market varies across the board but here are leading analysts’ and traders’ Ethereum price predictions.
Tyler D. Coates, the co-author of Hyperwave Theory and the host of Sawcruhteez Streamz, a trader and analyst strongly believes that the coin has bottomed at current rates and can reach highs of $360 by the end of the year.
CloseCross’s CEO and Founder, Vaibhav Kadikar, believes the cryptocurrency will soar to $1,000 in the future because of the platform’s utility. Kadikar’s price forecast is pinned on the crypto decoupling from Bitcoin. As developers resolve scalability and transit to a Proof-of-Stake consensus algorithm, demand would push the price of Ethereum higher.
The founder of the startup behind SludgeFeed, Russo, is of the view that Ethereum price won’t retest its all-time highs until after 2021. Anchoring his Ethereum price prediction is the belief that Ethereum will maintain its dominance in the smart contracting sub-sector.
In an interview with a crypto news outlet, Xun said that Eth 2.0 will require computer science breakthroughs like breaking the CAP theorem and further commented that it’s unlikely to be done by a bunch of JS web developers.
Evidently, the coin price is influenced by market forces-since it is an asset like no other. Without adoption or use, there is no value even if millions were initially poured to make this possible. If anything, the future of Ethereum looks solid and the coin has, after initial years of challenges, remained bullish since succeeding years.
Ethereum Price Forecast
Ethereum price action appeared left out back in 2020 by the world’s most famous cryptocurrency. As the price of Bitcoin raced to its 2017 record high and continued to soar even further to its newest ATH, Ethereum price only moved midway to its all-time high. As we transitioned into 2021, the situation changed in favor of Ethereum, with its value beginning to rise on the 2nd of January. The crack finally arrived on the 2nd of February when ETH broke past its previous ATH and soared to even greater heights.
Despite the trials, ETH‘s edge over competitors, its advantage-now and perhaps in the future – is that of developer participation. Ethereum competitors are clearly determined, offering irresistible incentives and offers, and capping that up with a compatible virtual machine to clip market share, depressing ETH cryptocurrency price. Some projects, thanks to incentives offered by Tron, for instance, switched camps. The absence of long-lasting fixes could prove problematic in the near future.
What to expect from Ethereum Price 2021
As of 10th February 2021, the queen of cryptocurrencies is following the king and has established an upward trajectory. Ethereum has set a record high of around $1,800. In the daily timeframe, the cryptocurrency price saw a change of $114. The 24-hour high for Ethereum was $1,824 while the 24-hour low was at $1,710. At the time of writing, Ethereum is trading hands $1,785 apiece minimum price.
Out of the 26 technical indicators for the cryptocurrency, 17 stands at a buyer’s position, eight are neutral with one indication of sell. Seven oscillators give out a neutral signal with three buy signals and only one sell signal. 14 of the moving averages are giving out a buy signal with one neutral indication and zero sell indications.
Analyst Vince Prince has set a day price target of $2,000 for the cryptocurrency in his Ethereum prediction. Per the analyst, Ethereum has been operating between two nearly-horizontal channels, but the cryptocurrency broke out of the channel to the upside as Tesla fueled the cryptocurrency market’s bull run with heavy investments. The upper boundary of the channel is now acting as a strong support level for Ethereum.
The analyst is expecting Ethereum to attain the $2,000 historical price level. He predicts that the coming price actions of the cryptocurrency will prove crucial since there is a possibility of strong corrections. in his Ethereum price prediction, analyst FX Professor has identified the price level of $2,000 as the next target for the cryptocurrency. He is expecting Ethereum to hike to the price level of $2,000 with an ascending support line.
At the same time, the ETH expert is also expecting the $2,000 price level to be a major resistance level. Ethereum is likely to be rejected at the price level and a sharp decline in the cryptocurrency can occur on rejection. Hence, the analyst suggests a long position currently and a short position when Ethereum reaches $2,000.
The Ethereum price action has traded at record price levels in recent days leaving investors to speculate the price reaching $3,000 soon. As Tesla catapulted Bitcoin towards $50K on the 8th of January, ETH remained moderately inactive, only rising past its recent ATH at $1,765 to $1,781. In the meantime, Ether has pulled back to its current price at $1,754, but the buyers have their sights set on $1,800. If the price breaks past this level, more investors will be willing to join the market driving the price beyond the $2,000 price level.
In the above ETH/USD 4-hour chart, the asset’s bullish outlook can be explained using the Moving Averages Convergence Divergence (MACD) indicator. When applied in the right way, this pattern can be utilized to pinpoint the buy and sell positions on the chart. From the above chart, when the crossover happens on the MACD with the blue line moving up and diverging from the red line, it signals the beginning of a new uptrend. In this case, it is an excellent time to buy or augment your ETH position.
The ETH/USD pair is trading above all the moving averages, as seen on the chart. Moreso, the 50-SMA appears to be diverging further away from the other two SMAs, which precisely means that the bulls are in control of the market.
It is vital to bear in mind that the ETH/USD pair is currently trading beyond a rising parallel channel’s median borderline. If the Ethereum price could manage to close the day trading above this level, buyers will be motivated to break past the $1,800 and $2,000 hurdles.
At the current price, the crypto asset is reasonably valued. Vitalik Buterin is the poster boy and his historical role and involvement in the project can’t be quantified. His proposals and criticism, despite his age, shape discussions. He’s technically gifted, and that’s the analysis for some, a weakness that Ethereum has.
Although platform development using smart contracts continue with or without his support, Vitalik’s guidance over time impacts price and market since he not only advises developers, makes proposals but also owns a big chunk of ETH.
Should Vitalik sell his portion, critics could interpret it as a vote of no confidence to the project causing others to follow suit and sell their holdings. That’s how significant his position and role are to Ethereum and to ETH coming prices – whether an increase or decrease in trend.
Ethereum price prediction 2022
In determining what the price of Ethereum will be, it is important to also study BTC. Technical analysis over time has shown that as long as BTC price is rising, Ethereum will follow suit. The scalability of Ethreum also makes it a candidate for a big surge in price. Of all networks, the Ethereum blockchain is the one that developers are adopting the most and this is unlikely to stop anytime soon. Given all these and all the upgrades that the coin has added to its network over the years as well as the future upgrades it has planned, we are likely to see more increases in price.
For example, the upgrade to ETH 2.0 back in December 2020 continues to influence the price positively. The managing partner of Moonrool Capital Fund, Simon Dedich had earlier predicted that Ethereum price could hit $3000. According to Liteforex’s detailed analysis of Ethereum price prediction for 2021, the price could go as low as $500 and as high as $2400. But it is likely to finish the year between $1600 to $2400.
Analysts further predict that the price could go as high as $3000 by 2023. It claims that the give Ethereum blockchain is optimized to remain a top cryptocurrency, it can always remain right behind Bitcoin.
Ethereum price prediction 2025
Security and centralization questions have been raised, but the Ethereum team is moving on with the idea and by 2023, Serenity, will be the result. Serenity will be a Proof-of-Stake network with Sharding to address scalability. It is imperative this development on Ethereum goes through, for simple reasons: space is heating and competitors are determined.
Tron, EOS, Cosmos, Waves, and many others offer the same benefits as Ethereum. The difference is these networks are scalable, energy-efficient, and have a higher throughput with some platforms claiming to process thousands of transactions per second.
Tron and EOS are front runners. Justin Sun, the co-founder of Tron, is specifically angling to dethrone Ethereum, and his platform has emerged as a favorite for gambling. EOS is preferred by gamers, while Ethereum is ahead with DeFi. Ethereum price stands to crater if the path towards Serenity becomes messy – this seems to be one investment advice. Already, Tron is testing the DeFi waters with a new DeFi app, DJED, aiming to reach record highs.
Ethereum price prediction for 2030
In the long haul, the future of the Ethereum ecosystem will be shaped by how fluid it is and how easy it will be to deploy dApps. While commentators forecast a smooth transition in the next three years, ETH price prediction for 2030 will mostly depend on whether Ethereum will remain on demand, its ability to wade off competition, and establish itself as a leader in smart contracting having satisfactorily handled ETH scalability troubles.
In years ahead, analysts also forecast that the price influencing factors will be few since by then mining and mining difficulty adjustment, miner disgruntlement will be a thing of the past. Besides, the complete decentralization of the platform and the endorsement of ETH as a utility by regulators are supportive of the bullish price of Ethereum. Currently, BTC and ETH are the only two digital assets with clearance from US regulators, a boost for hodlers, and true believers of the project.
Moreover, projected adoption from companies and even governments will cause market forces of supply and demand to influence crypto exchange price, placing long-term Ethereum forecast on the green. Scalability remains a big impediment but Ethereum developers are resolute in forging a solution.
FAQs on Ethereum Price Prediction
Will the Ethereum current price go up?
Serenity is technical and introduces new features as Sharding and Plasma absent in competing platforms. All of them are proposed to resolve Ethereum scalability and stretch the number of decentralized application that can be launched on the platform. This is key since delays or any postponement would deflate and slow down the price and Ethereum bulls.
Bitcoin and altcoins are positively correlated. If the BTC price edge higher, the price of Ethereum will likely soar as it is the second most valuable coin in market capitalization. This possibility increases the odds of ETH‘s upsides over downsides.
Then there is DeFi which is roughly three years old but most are based in Ethereum. ETH is collateral. The more DeFi is used as an alternative channel for financing, ETH‘s demand will rise. This is a net positive trading volume for institutional investors in the immediate term and a boost now that the number of the total locked maximum price of ETH denominated in USD is on the rise after dropping from over $1.5 billion as per statistics from DeFi Pulse.
The Market Cap is at a current level of 207.79B, up from 206.52B yesterday and up from 12.26B one year ago
Is Ethereum better than Bitcoin?
Ethereum is a solid platform and ETH is a good investment, and there are many reasons for this. Ethereum Forecast 2025 is shaped by the foundation of the project and if ETH is worth holding in any portfolio.
Return on Investment (ROI) of Ethereum (ETH) is the first indicator. Even after 95 percent of the price falls, early investors are deep in the money. Based on current fundamentals, making price predictions for digital coins by considering what is online is easy.
Then the importance of control and censorship resistance is a benefit blockchain present, a benefit now and in the future. Most centralized applications have been accused of censorship, say on YouTube or Twitter where dissidents are blocked. In Ethereum, similar apps can be launched but without transaction censorship.
There is control and data generators are paid for their work. Aside from that, Ethereum drastically expands on Bitcoin and so much more, like asset tokenization, can be done on the network than a naked, smart contract-free blockchain.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.