Ethereum price may hit $20,000 by 2025 – analysts predict ETH is ‘next on people’s lists’

Trader reveals Ethereum is 'most undervalued' cryptocurrency

When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time.

The world’s second most popular cryptocurrency is trading at record-high prices and punters believe the momentum will carry ETH to new heights. Ether, the virtual token of the Ethereum blockchain broke the $2,800 ($4,000) barrier on Monday, surging to a new record of £2,977.46 ($4,213.46). Coindesk data at 6.31pm BST shows ETH exchanging hands for £2,941.00 ($4,187.62) – up 6.47 pecent in the last 24 hours – and ETH’s long-term predictions look much more promising.

According to a panel of international crypto experts, ETH could be worth five times as much in as little as four years.

The startling news comes amid a renewed interest in cryptocurrencies, fuelled by the likes of South African tech mogul Elon Musk.

Data published by the Cryptocurrency Predictions Panel from the personal finance comparison site, finder.com, suggests ETH could be worth $14,029 ($19,842) by 2025.

The panellists believe Ethereum’s price will find support in more widespread transaction use, more interest in decentralised finance (DeFi) and institutional investment.

According to Dr Paul Ennis, an assistant professor at the University College of Dublin, the digital currency is highly undervalued and has more use cases than flagship token Bitcoin.

The expert also believes ETH could hit the £7,071 ($10,000) mark before the year is over.

This prediction was backed by Samantha Yap, CEO of digital banking app YAP, who said: “After Bitcoin gets mass adopted, Ethereum will be next on people’s list.”

Some 70 perecent of the panel believe DeFi and the emergence of non-fungible tokens (NFTs) – tokens used to certify the authenticity of art, music, video and other digital files using blockchain technology – give ETH an edge over Bitcoin.

But not everyone agreed with this outlook, with only 51 percent agreeing ETH will be the most transacted cryptocurrency by the end of 2022.

Ethereum explain how their 'world computer' works

John Hawkins, a senior lecturer at the University of Canberra in Australia, said: “While Ethereum has more uses than Bitcoin, it will likely be dragged down with it.”

Recent research by finder.com also looked into the number of Brits who have shown an interest in crypto.

The survey suggested 40 percent of people aged 18 to 34 already own a cryptocurrency.

And about 77 percent of the crypto panel believes institutional investment will back Ethereum in the coming years, helping ETH soar to the £14,500 ($20,000) mark.

Dr Iwa Salami, a senior lecturer at the University of East London, said: “Decentralised finance, which is so far building an alternative financial system that is more accessible and democratised, is largely built through decentralised applications on the Ethereum network.

“These developments indicate the future of finance and are very promising and well-balanced regulation would facilitate the credibility of this growing industry.”

Some of the panel’s experts, however, have taken a much more bullish outlook.

Sarah Bergstrand, COO of BitBull Capital thinks ETH could break the £70,710 ($100,000) barrier by 2025.

She said: “We are likely to see major upgrades to the Ethereum network this year, and those can be expected to push their price higher.”

As with all cryptocurrencies, of course, there are risks and you should never blindly invest your money.

Some 24 percent of the panel said there is a threat to ETH posed by the concentration of its present ownership – 55 percent said this poses a moderate risk and 18 percent only consider this a low risk.

And 62 percent of the panel said Ethereum is threatened by other smart contract blockchain technologies that could draw away users.

Ethereum CEO argues cryptocurrency bubble has NOT popped

Vishal Shah, CEO of Alpha5, thinks $2,800 ($4,000) present a steady level for ETH and token will end 2025 at this price.

He said: “ETH should continue to perform, but it simply does not have the same scarcity benefits as BTC.

“Further, ETH is in a race against other protocols to overhaul its usability profile.

“There are faster, cheaper chains that are gaining traction and will likely rival ETH in the long run.”

About 59 percent of the panellists believe now is the time to purchase ETH, while 28 percent support holding onto the token and only 13 percent said it is time to sell.

Just keep in mind the crypto markets are very volatile and buying any digital asset has its risks.

You should never invest more money than you are willing to lose.

The Financial Conduct Authority (FCA) warned earlier this year cryptocurrencies are a volatile and all-risk investment.

The FCA said: “If you invest in cryptoassets, you should be prepared to lose all your money.”

Source: Read Full Article