How far can Ethereum price go? That is the question that many are asking as we stand on the cusp of Ethereum 2.0.
2021 has turned out to be a wildly successful year for Ethereum (also known as Ether or ETH) as it has outperformed not only traditional financial assets but also most cryptocurrencies -- including the mother of all cryptocurrencies.
Indeed, as of October 2020, Ethereum's value has thus far tripled since the beginning of the year, making it the second top-performing cryptocurrency in the world behind only Chainlink's LINK token.
Global investors have also responded to Ethereum's rise accordingly, evidenced by Ethereum futures volume, which hit an all-time high last month.
Source: The Block Crypto
According to The Block, "the monthly volume of Ethereum futures grew by 5.3% in September, from $163.1 billion to $172.2 billion. This figure broke the previous record high in August. Since the beginning of 2020, Ethereum futures volume has grown by nearly 320%."
So how high can the price of Ethereum go? We scoured the web to discover crypto experts' and influencers' five boldest ETH price predictions.
Ethereum's price at the time of writing: $365.50
Several crypto influencers have predicted a $500 price point for Ethereum by the year-end, including:
Andrew is the founder of Startup Weekend, a well-known figure in the global startup community, and (we surmise from his tweets) a crypto investor. Andrew believes that Ethereum will reach $600 in 2020.
Crypto trader and influencer Inmortal says that he has been accumulating Ethereum for a year and sees it as a longer-term investment. They're of the opinion that ETH will hit $500 by the end of 2020 and $1000 in 2021.
Some crypto influencers have predicted a $1,000 price point for Ethereum, including:
Scott Melker, popularly known for being a crypto trader at TexasWestCapital and for his Twitter persona, The Wolf of All Streets, has said that with Ethereum 2.0 in place, it won't be hard to imagine ETH at a price of up to $937.
Scott also said earlier this year that he is even more bullish on Ethereum than Bitcoin and expects excitement around DeFi to continue to drive investor interest in ETH.
Swedish blockchain expert and data scientist Ivan Liljeqvist is known for running the world's largest online blockchain academy. Ivan has gone so far as to predict that Ethereum will reach $6,000 by the end of 2021, and he https://twitter.com/IvanOnTech/status/1305107358218149890\
It is "very realistic" for the token to reach $1,000 by the end of 2020.
Crypto trader and influencer CryptoKing is also bullish on Ethereum's prospects for 2020, predicting it will hit $1,000 this year.
Some crypto influencers have made predictions in the $1,400 to $3,000 range, including Bankless analyst Lucas Campbell (https://twitter.com/0x_Lucas/status/1315785306008813568\
) who expects ETH to "rip through $1,400",\
https://twitter.com/DonCryptoDraper/status/1231273979584839681\
who hopes it will reach $1,400 in 2020,\
https://twitter.com/TheCryptoDog/status/1315764502474833920\
who expects it to hit $2,000.
Technical analyst and crypto trader Cactus, also known for his popular newsletter HedgedInterest, wrote a lengthy piece on why he believes Ethereum is heading for $3,000.
His rationale? Ethereum is the "most used, most adopted, and most developed blockchain... the first to have the perfect balance of scalability, security, and decentralisation". Combined with the fact that DeFi is about to take off, he expects the price of ETH to range between $3,000 to $5,000 at the peak of the next bull market cycle.
Several crypto influencers have predicted a $5,000 price point for Ethereum by the year end, including:
Market cycle expert Bob Loukas, who has over 25 years of experience in financial markets and trading, buys every dip with a $5,000 target in mind for ETH. According to him, Ethereum is
https://twitter.com/BobLoukas/status/1300592734592532481\
as of September 2020, "any upside move to new heights must be chased quickly".
Crypto trader and enthusiast Moon Lambo, who boasts a nearly 55K following on Twitter, first predicted at the end of July that ETH would reach $1,000 by the end of 2020 on the back of DeFi's rise --- before adjusting their price prediction to $5,000 by the year-end.
And finally, for the boldest of them all...
Crypto investor, author, and Youtuber Quinten Francois have been particularly bullish on Ethereum, given its utility as the world's first general-purpose blockchain platform (and token).
Quinten started the year with a $10,000 prediction,
https://twitter.com/QuintenFrancois/status/1258087034075451394\
Many institutional investors and crypto whales have been quietly accumulating ETH while everyone else was focused on Bitcoin's halving event. He then followed up with another bold prediction,\
https://twitter.com/QuintenFrancois/status/1261224462428639232\
that he believes ETH will ultimately outperform BTC in the next two years.
What do you think? Will Ethereum outperform Bitcoin in the long run? What price point will Ethereum reach by the end of 2020? Leave us your best bet in the comments.
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