What do experts think about Ethereum’s potential to reach $18,000 soon? Analyzing the latest predictions and market trends.
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On August 5, the crypto market faced massive turbulence, plummeting Ethereum’s value and other assets. Amid a global sell-off, ETH fell to $2,100, down 22%, marking its largest single-day drop since May 2021.
The price slightly rebounded to around $2,430 on August 8, representing a 3% increase in 24 hours. Overall, ETH remains about 24% lower over the past week despite this modest recovery.
Market dynamics for Ethereum-related financial products are sending mixed signals. On August 6, ETH ETFs witnessed an inflow of more than $98 million, but a net outflow of $24 million occurred on August 7.
To gain better insight into Ethereum’s future, analyzing expert opinions and crucial developments is pivotal.
What do experts think?
Amid recent market turmoil, experts offer varying perspectives on Ethereum’s future prospects.
On August 6, Michaël van de Poppe highlighted two significant developments. First, ETH became deflationary, reducing supply at a 0.812% annual rate, a positive sign for its value.
He also mentioned strong on-chain activity, particularly with AAVE, a DeFi platform generating significant revenue. This indicates DeFi, a core use case for Ethereum, might be regaining momentum.
On August 7, van de Poppe noted that while $160 million worth of ETH was created in 2024, recent inflows into ETH ETFs suggest demand could outpace supply. Sustained inflows could result in substantial price increases.
Another crucial factor is Ethereum’s technical upgrades, like Ethereum Improvement Proposal (EIP) 4844, implemented on March 13, which drastically increased layer 2 scalability and reduced user fees.
EIP 4844, often likened to a "broadband moment" for Ethereum, enhanced scalability by adding "blobs," increasing data availability and block space.
This upgrade led to a 57% drop in fees but boosted user experience and scalability. Transaction volume on layer 2 solutions rose by 63%, and active users on these platforms grew by 81%.
As these enhancements unfold, they could positively impact Ethereum’s long-term economic outlook, possibly aiding in price recovery and growth.
Ethereum price prediction
Experts have varied predictions for Ethereum’s prices in upcoming years.
Ethereum price prediction for 2024
Digitalcoinprice forecasts Ethereum’s price in 2024 could range from $2,184.14 to $5,289.03, averaging $5,085.90.
Coincodex is slightly more optimistic, projecting a 7.03% rise, reaching approximately $2,554.44 by September 7, 2024.
These forecasts suggest moderate growth but caution remains.
Ethereum price prediction for 2025
In 2025, Digitalcoinprice predicts Ethereum will trade between $5,231.85 and $6,303.69, averaging $6,194.84.
Coincodex projects fluctuations between $2,386.71 and $6,482.53, both reflecting a positive trend.
Ethereum price prediction for 2030
Long-term forecasts for 2030 show more optimism.
Digitalcoinprice estimates Ethereum could reach between $16,412.24 and $18,005.63, averaging $17,115.05.
Coincodex predicts a range of $5,488.20 to $11,821, indicating confidence in Ethereum’s potential.
While these predictions are hopeful, inherent volatility in the crypto market means actual outcomes might vary. Conduct thorough research and invest only what you can afford to lose.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
