- Many experts have laid out their year-end Ether price predictions, most of which see Ether surging past $2,000 before the close of the year.
- In the long term, other market players expect Ether bulls to push prices up to as high as $16,000 and $30,000.
The year 2024 is only 5-months away, and price predictions for leading assets are pouring in. While many key players are focused on Bitcoin and its long-term potential, others are anticipating a massive price run for Ether, the second largest cryptocurrency by market cap.
In April, Finder rolled out some notable expert predictions for Ethereum for each quarter of the year. Notably, according to the average prediction from Finder’s panel of fintech specialists, ETH is expected to hit $2,741 before the end of 2023. The altcoin is then expected to close out the year at a price of $2,451.
Come 2025, ETH is expected to soar even higher. According to these experts, ETH will hit $5,845 by the end of 2025, and soar to as high as $16,414 by the end of 2030.
Ben Ritchie, another key player who laid out a bullish price prediction for Ether, is aiming a little higher. Ritchie, who is the Managing director at Digital Capital Management, predicts that Ether will close the year at a price value of $3,200.
Ether’s performance this year has been attributed to a single factor, by many market experts. Ritchie, who shares a similar sentiment as these experts, agrees that Ether’s success this year can be credited to its transition to a proof-of-stake network.
Experts credit Ether’s bullish performance to its transition from PoW to PoS
Due to the fundamental changes brought to the network because of this transition, Ether is seeing significant growth and adoption from the wider cryptocurrency market.
“There is a potential for a future supply squeeze, supported by a gradual emission rate, staking, and the network effect, which could drive the price of Ethereum to approximately US$3,200 within the current year – and even exceed US$12,000 in the long run.” Ben Ritchie asserted.
Another expert who sees Ether soaring is Yves Renno, the head of trading at Wirex. Yves Renno is also betting big on ETH, and predicts that the asset will be valued at $6,000 by the end of 2025. He further asserts that there is a “strong basis for short lived rallies in 2023, and a strong rally before the end of 2024.”
Renno, along with another prominent figure Tommy Honan, the Head of Product Strategy at crypto exchange Swyftx, strongly believe that yield staking has also included Ether’s mainstream adoption rate. Honan is convinced that the yield on offer for staking ETH is in “the sights of institutions.”
At the time of this report, Ether is still in the red zone, as it trades at a price of $1,875.
