This year has been rather positive for the crypto markets, and ether Ethereum is no exception to this. During the crash of 2020 triggered by the pandemic, it was possible to snap up the world’s second-largest coin for only $100 if you were quick enough to act.
Ethereum Prediction 2021
Ether is the cryptocurrency built on top of the open source Ethereum blockchain, which runs smart contracts. The cryptocurrency acts as a fuel that allows smart contracts to run unlike bitcoin, which is meant to be a unit of currency on a peer-to-peer payment network. Ether’s supply is not capped like that of bitcoin and its supply schedule, often described as minimum necessary to secure the network, is determined by members of Ethereum’s community.
A majority of decentralized applications are based on Ethereum and the cryptocurrency accounts for the highest percentage of the total funds staked in the DeFi projects.
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Ethereum Prediction 2021
Following a strong 2020, crypto is predicted to continue to surge in 2021. Notwithstanding the current dip, Bitcoin and Ethereum had both been hitting all-time highs in what seemed like every other week. As the market undergoes a correction, what will the rest of 2021 hold for Bitcoin, Ethereum and other cryptocurrencies?
Finder surveyed 35 financial experts to answer this question. Their virtual consensus: It looks like it’s going to be another solid year on the whole, especially for Bitcoin, with the panellists believing that Bitcoin will end the year at an average price of US$94,967, according to the latest edition of Finder’s Cryptocurrency Predictions Report.
Ethereum price predictions
Panellists predict that the price of Ethereum will hit $4,512 on average by the end of the year. That’s a 234% increase from December’s end-of-year prediction of $1,351.
Founder and CEO at YAP Global Samantha Yap gave one of the highest forecasts for the end of 2021 at $10,000, noting that once BTC is mass adopted, ETH will be next on people’s list.
Lecturer and Assistant Professor at the University College of Dublin Dr Paul Ennis gave the same forecast for 2021 ($10,000), arguing Ethereum is highly undervalued and has far more uses than Bitcoin.
Cryptocurrency strategist at LMAX Group Joel Kruger gave a more moderate EOY forecast of $2,000 but he’s no less convinced of Ethereum’s potential, viewing the currency as the major hub of innovation on the blockchain.
“As crypto adoption continues, most of that innovation will therefore be hosted on Ethereum, which we expect will translate into a much higher valuation,” he added.
By 2025, the panel expects Ethereum to hit $19,842 on average.
BitBull Capital COO Sarah Bergstrand gave the highest forecast for the end of 2025 at $100,000.
“We are likely to see major upgrades to the Ethereum network this year, and those can be expected to push the price higher,” she explained.
On the other hand, UNSW associate professor Elvira Sojli gave one of the most bearish forecasts, predicting ETH will end 2025 at just $1,850.
Buy, sell or hold Ethereum ?
The majority of panellists (59%) say now is the time to buy Ethereum, while 28% say “hold” and 13% say it’s time to sell.