Ethereum remains one of the most successful cryptocurrencies in the market, although its current price does not leave much to be desired. He was not spared the general downtrend of the market that shook the crypto space and has since lost its foothold above $3,000, a crucial point for the digital asset. However, it appears that the future is not at all bleak for the second largest cryptocurrency as the Finder Panel reports.
100% Ethereum increase
modern finder face Industry experts have released a long-term bullish view of the cryptocurrency. The panel that took part in Finder’s quarterly survey consisted of 36 industry experts who shared their predictions for the digital asset. According to them, Ethereum may still be in the early stages of its price growth.
The digital asset, which is currently trading at just over $2,800, has received some of the best comments and the consensus was that there is a lot more to do in 2022 alone. They argue that ETH will see another 100% growth this year that will see its price rise to $5,783 before the year runs out.
“Ethereum will jump from its current price of $2,810 to $5,783 by the end of 2022,” the committee said. “The price is expected to continue rising in the future, reaching $11,764 by 2025 and $23,372 by 2030.”
Despite the bullish outlook for the altcoin from the current perspective, it is more bearish compared to previous expectations. The committee had previously set the price of Ethereum at $6,500 by the end of 2022, but a recent quarterly report saw this prediction revised by about 10%. However, it remains a good outlook for a digital asset.
However, not everyone shares the bullish predictions for ETH. One expert, John Hawkins, Senior Lecturer at the University of Canberra, said he sees digital assets ending the year at less than $2,000.
ETH price trending at $2,800 | Source: ETHUSD on TradingView.com
How will this happen
There is a lot of speculation about Ethereum which all hinges on upcoming network upgrades. The move to the consensus layer that will see the network transition to a Proof of Stake mechanism is an upgrade that is expected to boost the value of the token, and Finder experts seem to think so too.
Keegan Francis, Global Crypto Editor at Finder, explained that for him, the long-term outlook for the cryptocurrency remains very bleak until the upgrade takes place. With this will come the ability to scale the network. However, Francis added that people will continue to buy cryptocurrency because of the “hype, promises, and possibilities.”
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The network remains the leading DeFi platform. But with a lot of market share losing to competitors, the cryptocurrency editor does not have much confidence at the moment. “Ethereum is in a very uncertain place in its journey at the moment,” Francis explained. “It is currently losing market share to its competitors.”
Ethereum continued to trade above $2,800 in the early hours of Tuesday. Its price is up 0.15% in the past 24 hours to trade at $2,843 at the time of writing.
Featured image from CoinQuora, chart from TradingView.com