NextAdvisor experts generally agree that a breach above $4,000 is possible for Ethereum.
Ethereum’s Price Rally
The cryptocurrency market appears to be recovering again as the total market cap has once again surged above $1 trillion. The total market capitalization has increased in part due to the Ethereum rally. This surge has left investors wondering what amount ETH could be trading at by the end of the year.
A panel, made up of 53 crypto and Web3 industry fintech experts at Finder, expressed their predictions about the price of Ethereum. They predicted that over the course of the year, the currency would first fall to $675 before rising again to $1,711 by the end of 2022.
According to most of them, the price increase would be boosted by the announced Merge update. The Merge marks the transition of the Ethereum network from the Proof-of-Work (PoW) to the Proof-of-Stake (PoS). The upgrade is expected to take place in September this year.
Optimistic Predictions
CoinPedia’s experts came up with slightly more optimistic estimates than Finder’s experts. The experts believed that Ethereum could be worth as much as $2,142 on average by the end of the year.
In their best-case scenario, Ethereum hits $2,474. This would lead to newer buyers and projects taking over the network through the reduction of congestion and gas tariffs.
On July 27, NextAdvisor asked three experts about Ethereum’s future price movements. They generally agreed that a break above USD 4,000 was possible in 2022. This is in line with forecasts made in January by Bloomberg senior commodities analyst Mike McGlone.
In late March, McGlone explained that demand for Ethereum increased while supply fell. This led to the continuation of the price increase as the currency becomes “the collateral of the internet”, according to him. Ethereum is currently trading at $1,716. It is up nearly 8% in the past seven days.
