Cryptocurrencies are currently the most popular form of investing and are on the rise. They are volatile by nature making them difficult to predict. But this also carries a great potential to see profits from your investments. Of all the most popular cryptocurrencies Ethereum stands right behind Bitcoin. Many cryptocurrency experts have tried their best to forecast the price of Ethereum in recent years. But the prediction is controversial since it is one of the leading cryptocurrencies. This fact also grants Ethereum expectations to perform well on the market this year and in the future.
While predicting the price of Ethereum is a near-impossible task, many are attempting this feat due to the cryptocurrency’s extreme popularity. The value will depend on the volume of the coin in the market, and as anyone can buy ethereum further gives difficulty to this task. Some believe that Ethereum has the potential to grow in value by as much as 400% if not even more.
How rapidly did Ethereum grow?
As a product confounded by Vitalik Buterin, Ethereum started as a white paper and was developed into a decentralized computing platform for centralized applications and smart contracts. These include most prominently NFTs as well as other various use cases. The token is also used to pay transaction fees and as collateral to borrow other tokens within the DeFi ecosystem.
Ethereum was a smaller cryptocurrency up until early 2018 when it grew almost exponentially, due to the many projects started on it as a base. This was mainly done through Initial Coin Offerings. These projects all had their own coin, and as an investor, you could participate in these projects by pledging to them your fiat money. Even to this day projects stand as the biggest perk of ETH.
Ethereum stands as one of the most traded cryptocurrencies in the world and is rapidly growing as new projects are released. It has no signs of slowing down and is one of the best cryptocurrencies you can invest in. Mainly because the natural volatility of crypto is much lower with ETH due to its popularity and use. Comparing it to smaller coins you quickly see the benefits of investing in it.
Ethereum Price Forecast for the Future
Ethereum just like the rest of the market is at the center of Bitcoin’s price action. Which makes it so that when Bitcoin starts a bull run ETH is almost sure to follow. So as long as Bitcoin is in the lead and moves up ETH is projected to do the same. It has already seen an increase in USD-denominated value thanks to the general rise in crypto prices. Over longer periods of time the ratio between ETH and BTC is likely to decline. Still, Ethereum is one of the best contenders to rack up big wins as the money typically flows from Bitcoin winnings to altcoins and big market cap coins before trickling down to the smallest and least-known projects.
The price of Ethereum has come a long way since its humble beginnings with many sharp spikes in value throughout its life. The many golden ages of Ethereum have seen the cryptocurrency increase in value at a rapid and increasing pace. All while being one of the most stable cryptocurrencies on the market only comparable to Bitcoin, the largest cryptocurrency. Ethereum is sure to grow even further as the NFT space develops and solidifies itself within the art industry as the standard platform.
Either way, many positive predictions have been made by experts regarding the future value of Ethereum. Many of its holders hope for these to be true as they probably will be.