ETH to peak at $2,474 in 2023

Ether is bound for another volatile year in 2023, according to Finder.com’s latest Ethereum Price Predictions Report.

Finder’s panel of 56 fintech and cryptocurrency specialists think ETH will go as high as US$2,474 and as low as $984 in 2023 before ending the year at $2,184.

Digital Capital Management managing director Ben Ritchie thinks Ether will be worth $2,500 by the end of 2023 but says it could go as low as $900 throughout the year.

“Ethereum continues to dominate the market as the leading smart contract platform, driving a range of innovative projects within its ecosystem.

“However, recent market challenges have sparked investor concern and may limit the price of Ethereum to reach $2,500 this year. Despite this, Ethereum’s low annual inflation rate is expected to keep the price stable and above $900, even if future market disruptions occur.”

Seasonal Tokens creator and founder Ruadhan O gave a bullish forecast of $3,000 by the end of 2023 and says Ethereum’s price will recover alongside Bitcoin and the rest of the market.

“When economic activity starts to pick up, the transaction costs on the Ethereum network will rise. This will force Ethereum users to buy more ETH, providing additional upward pressure on the price.”

ethereums

With ETH’s price still well below its price from April last year, the majority of Finder’s panel (60%) think it is currently underpriced. 28% think ETH is priced fairly, while just 12% think it’s overpriced. A similar number of panelists think now is a good time to buy ETH (56%) with 28% suggesting investors hold and 16% sell.

Nearly half of Finder’s panel (48%) think Ether will eventually ‘flip’ Bitcoin as the biggest cryptocurrency by market cap, with nearly a quarter, including technologist and futurist Joseph Raczynski, expecting it to happen as soon as 2024.

“When you examine all blockchains based on security, decentralization, and scalability no other has its fundamental balance and judicious leadership, coupled with the critical mass of Ethereum. It’s not to say it can’t be toppled, but with each passing month it’s less likely.”

Ether is set to be worth $6,033 by 2025 and $14,316 by 2030, according to the panel average.

Origin Protocol co-founder Josh Fraser thinks ETH could crack $14,000 by 2025 given Ethereum is the base layer of innovation for the majority of DeFi and NFTs.

“As these spaces develop, Ether will accrue in value. As scaling solutions gain mass adoption, Ethereum will be used for less-financially driven data, such as identity and social coordination. It’s at this point we could see Ether become a 6-figure asset.”

However Associate Professor of Decentralised Finance at Nottingham Trent University Jeremy Cheah thinks Ether will be worth just $1,000 by the end of 2023 and $2,000 by 2025 given the lack of consumer rights safeguards which will suppress the price of crypto.

You can read the full report here.

The post ETH to peak at $2,474 in 2023 appeared first on Sunshine Slate.



source https://www.sunshineslate.com/uncategorized/eth-to-peak-at-2474-in-2023/

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