The board of experts at Finder has made a forecast indicating a favorable upward trajectory in the value of Ethereum over the long term, namely for the years 2023, 2025, and 2030.
Is it possible for the value of Ethereum to exceed $14,000 by the year 2030?
The price of Ethereum has exhibited a predominantly optimistic emotion following the announcement of BlackRock's application for an Ethereum Spot Exchange-Traded Fund (ETF). The value of the cryptocurrency had a significant increase, surpassing the $2000 mark during the current week.
According to industry experts from Finder, an impartial comparison platform and information provider, it has been projected that Ethereum will sustain a rise in its price throughout the forthcoming years.
According to the analysis conducted by the comparison platform, it is projected that the value of Ethereum will experience a decline to $1,840 by the conclusion of the year 2023. As of the present moment, the price of Ethereum is at $2,060.8. According to experts in the field of cryptocurrency at Finder, it is anticipated that the value of Ethereum will see a rise to $5,824 by the year 2025, followed by a further climb to $14,411 by the year 2030.
According to the financial information service platform, the basis for this price forecast is attributed to Ethereum's substantial development prospects and the escalating demand for Ethereum staking.
Pav Hundal, the Lead Market Analyst at Swyftx, has expressed support for the prediction of an increase in Ethereum's price. According to Hundal, it has been indicated by historical patterns that the price of Bitcoin may see an upward movement as a result of the future Bitcoin halves in 2024. This prospective increase in value is comparable to earlier instances where Ethereum's price has shown a similar trend after Bitcoin halving events.
In historical context, it has been observed that in anticipation of a Bitcoin halving event, Ethereum has exhibited a tendency to reevaluate its price levels, often retracing to previous valuations within the same year. This phenomenon is consistent with the recurring finding that the fraction of Bitcoin's market capitalization in relation to the whole cryptocurrency market tends to increase as the halving event approaches. According to Hundal, it is foreseeable that there may be a prospective transfer of investments from alternative cryptocurrencies, such as Ethereum (ETH), back to Bitcoin, in anticipation of the halving event.
Despite the optimistic projection about the future price of Ethereum as shown by the analysis conducted by Finder's cryptocurrency experts, a significant proportion of Finder's specialists have conveyed a sense of doubt regarding the likelihood of Ethereum's market capitalization reaching that of Bitcoin.
When queried about the possibility of Ethereum's market capitalization surpassing that of Bitcoin, 43% of the panel of experts expressed skepticism on Ethereum's ability to outpace Bitcoin.
According to Ruadhan O., the developer of Seasonal Tokens, he holds the belief that Ethereum's practicality exceeds that of Bitcoin. However, he does not anticipate Ethereum's market capitalization to approach that of Bitcoin. The individual provided an explanation for their rationale, attributing it to Ethereum's significant rivalry with alternative cryptocurrencies inside the cryptocurrency industry.
The cost of utilizing Ethereum remains high, which may result in a decline in its market share when more affordable alternatives emerge. Bitcoin lacks practical utility. The necessity of Bitcoin is not universally acknowledged. The absence of demand for Bitcoin's usefulness at a reduced price can be attributed to the lack of inherent utility. According to O, this is the reason behind the absence of market share decline for Bitcoin in comparison to other cryptocurrencies that utilize proof-of-work consensus mechanisms.
