Despite Ethereum not going through a particularly good moment in the crypto markets, experts’ forecasts on the price trend of ETH remain very positive.
It should not be forgotten that in the current phase there are still large daily sales from the new Grayscale ETF, but this trend is destined to run out.
The current situation
At the time of the landing on the USA stock exchanges of the new spot Ethereum ETFs, the price of ETH was around $3,500.
It has been just over a week and the price has currently dropped below $3,200, with a decline of more than 9%.
It is not a crash, but a very normal decline as we have seen many times before in this market, but in reality, it was expected that ETFs could make the price rise, and not make it fall.
The Grayscale case: the predictions on the price of Ethereum (ETH)
Everything depends on a widely anticipated dynamic that concerns the Grayscale ETF.
This new ETF, present on the stock exchange with the ticker ETHE, is actually the transformation into an ETF of a fund that has existed for seven years.
During its seven years of existence, it has accumulated many ETH, without being able to liquidate enough during market downturns. Once transformed into an ETF, it finally started to liquidate excess ETH daily, so much so that in just seven days of trading, it has liquidated Ethereum for a total of nearly two billion dollars.
Since initially holding ETH worth around 11 billion, it has already liquidated almost 20% in a very short time. But the most interesting thing is that at this rate, it will take just over a week to halve its AUM.
The same thing happened in January with the Grayscale Bitcoin Trust (GBTC), and in the end more or less the AUM stopped falling when it was halved.
Therefore, in this phase, it is still absolutely normal for the price of ETH to fall, but the decline could stop before mid-August.
The current price of Ethereum
Before the news of the probable approval of the spot Ethereum ETFs by the SEC was announced, the price of ETH was around $3,000.
At this moment it is oscillating within a range between $3,100 and $3,200.
Therefore, although at the end of May it had also risen above $3,900, after that +30% a correction began which, despite a -20%, has not yet managed to bring it back to the initial level.
For example, the price of Bitcoin before the launch of the new spot BTC ETFs in the USA was around $43,000, and it rose to $49,000 on the day of the launch, after a +14%. However, it later fell below $39,000, due to the sales of Grayscale’s ETF, so things for Ethereum seem to be going even better.
It is worth noting, however, that the price of ETH in BTC, or the ratio between the price trends of Ethereum and Bitcoin, has been almost constantly declining since November 2022, that is, since the collapse of FTX. Since then, the price of ETH has lost more than 35% compared to that of BTC.
All this highlights that there are theoretical possibilities of a recovery also for the price of Ethereum.
The forecasts on the price of Ethereum (ETH)
Every now and then Finder collects dozens of forecasts from market experts and calculates the average.
Recently, they published the latest average calculated regarding the price of Ethereum.
During the month of July, 32 specialists in the crypto sector were interviewed, asking them to give their forecast on the future trend of the price of Ethereum, after which the averages of the 32 forecasts were calculated.
The result is that on average the experts interviewed by Finder believe that the price of ETH could reach new all-time highs by the end of the year, even surpassing $5,300.
They have also asked the experts for their predictions for next year and for 2030.
The average forecast for the peak in 2025 was above $7,300, which is more than double both the current price and the $3,500 reached at the end of May.
Instead, for 2030 the average turned out to be $23,500.
This figure may seem very high, because it is ten times higher than at the beginning of the year, but it should be remembered that in 2028 there will be the fifth Bitcoin halving, and in 2029 there could also be another great bull run.
The reliability of the forecasts
The forecasts of Finder, obtained simply by averaging the forecasts of dozens of experts, have not always proven to be correct.
However, they often have not strayed far from reality.
For example, in July 2021, in the middle of a bullrun, the average of the predictions of experts interviewed by Finder on the price of Bitcoin was at $66,000 by the end of the year, and about $32,000 in 2025. In November 2021, it recorded the then all-time high at $69,000.
In August 2021 instead Finder’s averages indicated an Ethereum price above $4,500 by the end of the year, and indeed in November 2021 the then new all-time high of around $4,900 was recorded.
However, in December of the same year a new round of interviews indicated surpassing $15,000 by 2025, and even $50,000 by 2030. Less than three years later, these forecasts have already been reduced by about half, to $7,300 in 2025 and $23,500 in 2030.