Experts Predict Significant Price Growth for Ethereum
A recent report conducted by Finder and shared with Coingape has revealed the opinions of 40 crypto industry experts on the price projections for Ethereum (ETH) up to 2030. The consensus among the participants is that Ethereum has a great future perspective and is expected to experience a substantial rise in its market value.
Ethereum’s Trajectory of Price Through 2030
The survey indicates that the panelists expect Ethereum’s price to rise significantly in the coming years. They predict an average price of $4,887 by the end of 2024, followed by further growth to $7,492 by 2025 and an impressive jump to $19,190 by 2030. These forecasts suggest a positive outlook for Ethereum and highlight the growing confidence in its market performance.
Expert Insights on Ethereum
Industry experts, including Jonathan Hababou Solomon, co-founder and co-CEO of A.R.I.A., and Damian Chmiel of Finance Magnates, have noted the strong correlation between Bitcoin and Ethereum prices. This suggests that Ethereum may benefit from the same catalysts that have previously driven Bitcoin’s price up, such as ETF regimes and halving events. Pedro Febrero, VP of Web3 at RealFevr, believes that Ethereum is undervalued compared to Bitcoin, considering its adoption and capabilities in areas such as DeFi, NFTs, and gaming. However, there are differing opinions among experts regarding Ethereum’s future price, with some predicting a peak price of $17,000 in 2024 while others are more cautious and anticipate a decline to $2,000.
Consensus on Buying, Holding, or Selling ETH
The survey reveals a strong preference for buying Ethereum, with 71% of the panelists recommending acquisition at the current time. The expectation of Ethereum ETFs and the changing discourse around on-chain assets and decentralized applications support this view. Only 3% of the participants believe that now is the best time to sell ETH, expressing confidence in the future development of Ethereum.
Views on Ethereum’s Valuation
The survey highlights a diversity of views on the current valuation of Ethereum. While approximately half of the panelists believe that ETH is undervalued due to its growth and potential as a global settlement layer, 45% view Ethereum as fairly priced, considering the recent approval of Bitcoin ETFs and the potential for a similar event happening for Ethereum. A small fraction of the market sees ETH as overpriced, pointing to persistent system flaws within the Ethereum network.
Competition with New Blockchain Platforms
When it comes to the competition between Ethereum and new blockchain platforms like Solana, the majority of analysts predict that crypto enthusiasts will utilize both platforms, taking advantage of their different features. This perspective suggests a diverse and multi-chain future for the blockchain industry, where various platforms meet the needs and preferences of different user groups.
Conclusion
The report’s findings provide valuable insights into the price projections and market sentiment surrounding Ethereum. The consensus among experts points to a positive future for Ethereum, with expectations of significant price growth and strong interest in buying and holding ETH. The competition with new blockchain platforms is seen as a complement rather than a threat, highlighting the diverse and multi-chain nature of the blockchain industry’s future.
Analyst comment
Positive news. Analysts predict significant price growth for Ethereum, with an average price of $4,887 by 2024, $7,492 by 2025, and $19,190 by 2030. Experts believe Ethereum is undervalued compared to Bitcoin and see strong interest in buying and holding ETH. Competition with new blockchain platforms like Solana is seen as complementary, indicating a diverse and multi-chain future for the industry.