This year has been a tough sail for Ethereum since May 2022, when Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of the unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of ETH.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Ethereum to reclaim its all-time high in 2023? Continue with the article to learn about Ethereum price analysis and prediction by Coinpaper.
Read also: Did Bitcoin Bottom Already?
What is Ethereum?
Ethereum is a decentralized, open-source blockchain that supports smart contracts, which allow participants to transact with each other without a trusted central authority. Ethereum blockchain has its own native token called Ether, which is used to pay for gas fees and secure the network. Currently, Ether, also known by its ticker ETH, is the world's second-largest cryptocurrency in terms of market capitalization, behind bitcoin.
Ethereum (ETH) price
Currently, Ethereum Price is USD. ETH has a circulating supply of coins and a total supply of . If you are looking to buy or sell Ethereum, Coinbase is currently the most active exchange.
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Ethereum price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Ethereum 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Ethereum price at $1,549 to $1,670. On the flip side, the unfavorable macro and ongoing FTX bankruptcy process may push the price of Ethereum to $1,282-$980 lows.
Ethereum price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Ethereum (ETH) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Ethereum to climb as high as $1,697, with the more distant prospect of reaching $1,798 in 2024. The bearish scenario is likely to see Ethereum (ETH) trading between $1,345 and $1,219 in 2024.
Ethereum price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Ethereum (ETH) price analysis and prediction is based on pure speculation and observation of Ethereum historical price movements.
Our Ethereum 2025 price forecast expects ETH to rally towards $2,186 and reach $2,569 by the end of the year. The bearish scenario would see Ethereum at $1,912 to $1,756.
Ethereum (ETH) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Ethereum is decidedly bullish. In 2026, we expect Ethereum to reach at least $3,367 before climbing higher to $4,015. In case of bearish scenario, Ethereum may fall to $3,035.
Is Ethereum (ETH) a good investment?
Just like every other cryptocurrency, Ether is a risky and volatile investment. It is important to thoroughly assess the risks associated with investing in ETH and to never invest more than you can afford to lose. To make informed investment decisions, investors should understand the technology underlying Ethereum, as well as the various developments and initiatives being undertaken by the Ethereum Foundation and other members of the community. Additionally, it is important to research the exchanges and wallets that offer Ether and to keep up to date on the latest news and developments related to the Ether and Ethereum networks.
Bottom line
Are you ready to invest in Ethereum? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy ETH from many crypto exchanges, including Coinbase
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created Ethereum?
Ethereum was founded in 2014 by Vitalik Buterin, a Russian-Canadian programmer.
What was the all-time high for Ethereum (ETH) ?
The all-time high price of Ethereum is $ on 2021-11-10