Ethereum Price Prediction, How Much Will Ethereum Cost in 2021?
Ethereum, the second largest cryptocurrency after Bitcoin was invented to address the issues with Bitcoin blockchain. It is not just a currency with intrinsic value or an investment option, but an ocean of opportunities for growing the crypto ecosystem.
Unlike Bitcoin, Ethereum is not limited and hence the asset is available in abundance. Moreover, currently it is based on Proof-of-Work, but very soon the platform will switch the Proof-of-Stake Therefore thinking of holding some ETH, but not sure what are its future prospects!
What will be the future of Ethereum? How much will it be valued in the coming 3 to 5 months or years?
This is the basic query every individual searches before investing their hard earned money. In this article let us try to find out in depth the technical analysis from inception as well as the price prediction for 2021 and beyond. All your thoughts regarding the investment will be clarified at the end. Now, let us try to have some basic information on Ethereum.
Table of contents
|Market cap||$ 255,400,857,821.0000|
|Circulating Supply||$ 115,583,653.8740|
|Trading Volume||$ 44,599,417,341.0000|
|All time high||$ 2,640.3700 April 22, 2021|
|All time low||$ 0.4330 October 20, 2015|
What is Ethereum (ETH)?
Ethereum is a decentralized open-source blockchain underlining smart contract functionality. Ether is the native cryptocurrency created by Ethereum miners as a dividend for calculations conducted to protect the blockchain.
Ethereum was suggested in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. The development of Ethereum blockchain was funded by an online crowd sale conducted between July and August 2014. The network then started to function on 30 July 2015. As of then 72 million coins were minted. This reports for about 65 percent of the total circulating supply in April 2020.
The Ethereum Blockchain currently accommodates over 2,60,000 different cryptocurrencies, 47 of which are among the top 100 by market capitalization.
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Ethereum Price Prediction 2021
2021 proved to be the golden years for the crypto space as Bitcoin and Ethereum hit the highest ever levels. Despite ETH price initiating the current year below $800, the price quickly gained momentum and crossed $1300 by the end of January 2021.
The asset experienced a slight pull back when it was on the verge to surpass $2000 in mid-February and trends within the levels throughout March 2021. However, April began with the soaring price above $2000, forming new highs at $2547 and sustaining comfortably above the levels.
On a bullish note, Ethereum impelled to $1014.20 by the start of January. ETH broke its previous price records by hitting $2547.56 and recorded a new All-Time-High. ETH might perform effectively if Ethereum 2.0 succeeds. The price may rise consistently throughout the year. With furthermore improvements Ethereum might trade at $5000 by the end of 2021.
Ethereum Price Prediction 2022
Ethereum might continue to be in a bullish trend and may trade in between $4000 and $5000 during the start of 2022. The price may surge significantly with certain variations throughout the year and ETH might concentrate more on its developments. Ether may hit as high as $6000 by the end of 2022.
ETH 5 Years Price Prediction
ETH ecosystem might focus on boosting the network ventures and it may concentrate on new projects, developments and partnerships to enhance the Ethereum network. By the end of 5 years Ethereum is anticipated to hit $10000.
Ethereum (ETH) Market Prediction
According to WalletInvestor, the price can go up from $2586.324 to $3394.24 in the coming year. And the price may surpass $8K by 2026.
TradingBeasts predicts a reasonable prediction year on year without much volatility. It predicts $2664 levels by the need of 2021 which could rally towards $4561 by the end of 2024
According to DigitalCoinPrice, Ethereum might steadily rise to $3612 by the end of 2021 and reach $7,808 by the end of 2025.
According to LongForecast, Ethereum would cost between $3583 and $4587 by the end of 2021.
Our Price Prediction
With the bullish rally, Ethereum’s price propelled to $1014.20 to start the year 2021. By cracking the previous price records, Ethereum recorded its new All-Time-High by reaching $2547.56. Ethereum may continue the price rally and the price might reach newer heights. Ethereum would focus on enhancing the security of the users. By the end of 2021, Ethereum could hit $4000 and might reach $10000 in the future.
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Historic Market Sentiments
ETH began rising steadily in January 2016 and reached a price peak at $15 in March. But the immediately after which, because of the Ethereum hard fork, the price fell two times lower.
For some months, the price of Ethereum fluctuated between $8 and $14. Ethereum was added to its list of backed assets in September by the Ledger Nano S hardware wallet, thereby allowing the coin to hit the $15 price.
Ethereum suffered from a DDoS attack on September 22 and this resulted in the network to get slowed down. This led to a prolonged downward trend that lasted until December. Then By the end of 2016, ETH’s exchange price had peaked at around $7-9.
For Ethereum, 2017 was a bullish year as in the first two months, the coin made a solid run at $23. In March, the price of Ethereum pumped to $53 and then increased to $95 in the next month. Another price push happened in June, with the coin touching $400. This continued until mid-November when the price of Ethereum stabilized at the price range of $270-350.
Meanwhile, Bitcoin was gaining traction over the same time span and hit $20,000 its ATH. Ethereum followed in the footsteps of Bitcoin and soared in January 2018 to its own high of $1,400. The Ethereum price took another jump upwards on January 8th to cross the $1250 mark before collapsing into a swift correction.
The ensuing trends with regard to the ETH price were primarily a reactionary expression of those of Bitcoin, which saw it spinning its tires during the year in a bearish pattern. As a result, Ethereum finished the year well over the price mark of $130.
Ethereum was trading from $100-140 at the beginning of 2019. In April, the first upward trend began. Ethereum began to rise rapidly, tracking the price of Bitcoin and hit $300 in June. ETH was unable to retain these positions, though, and began moving back to its former price marks. Ethereum began increasing again in December 2019 and hit $280.
Ethereum continued 2020 with its price trading at $143.85 during January. Progressively, ETH rose to $268.07 by February. Later, the price of Ethereum declined to $117.48 by mid of March due to the Covid-19 outbreak which resulted in the major downfall of crypto assets.
Further by the end of April, it had returned to its pre-COVID price and reached $200. With certain variations, Ethereum’s price spiked to $459.76 by September and further propelled to $609.75 by the end of November as the expansion of the price rally held by Bitcoin. Moreover, the much-awaited ETH 2.0 Beacon chain went live on December 01, and many expected the price would propel above $1000, yet in contrast, the price dropped miserably. However, at the end of December 2020, the ETH price recovered a little and traded at $706.14.
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Ethereum 2.0 is an updated version of existing Ethereum blockchain, which aims to increase the efficiency, scalability, speed of the Ethereum network.
Gas is the small type of work processed on the Ethereum network. Gas measures the amount of work to be done by miners in order to include transactions in Block.
Yes, Ethereum is legally accepted in several nations like Japan, Germany, Switzerland, United Kingdom and many more. Moreover, in many countries, Ethereum and other currencies are regulated and taxed accordingly.
Recently, a network upgrade called Berlin has been rolled out mainly to address the skyrocketing gas fees issue.
Ethereum can be traded on several exchanges like Coinbase Pro, Binance, Kraken, Bitfinex and many more.
Ethereum blockchain is considered as the promoter of decentralized ecosystem by building numerous DEX, DApps, and many more yet to come on its blockchain.