Eth 2023

Ethereum Fundamental Analysis

Current Supply

122726245.49900001

ROI Since Launch

8995.064662691246

Ethereum is a decentralized open-source blockchain network of the second generation (like Bitcoin is considered a first-generation blockchain platform). By market capitalization, it is only second to Bitcoin. 

The idea behind Ethereum is similar to other blockchain projects as it was created to offer wider access to financial services and to build an economy based on value, not on surveillance, so the personal information of the participants is secure. Transactions can be made peer-to-peer and without an intermediary. As there is no central authority, no company or person has control over the Ethereum network. The end goal of Ethereum is to become a global platform for decentralized applications allowing users from all over the world to build and run software resistant to censorship, fraud, and downtime. 

Unlike Bitcoin, which is mainly used for transactions, Ethereum powers the whole ecosystem of decentralized applications. The technology also powers digital money and global payment systems. It is also the first platform where NFTs (non-fungible tokens allowing to record the ownership on the blockchain) appeared.

Ethereum was conceived by Russian-Canadian programmer Vitalik Buterin. He wrote the White Paper for the project and then started the work on the network together with Charles Hoskinson, Gavin Wood, Anthony Di Lorio, and Joseph Lubin. The Ethereum blockchain was crowdfunded and on July 30 2015 finally launched. During the IPO the project raised $18.3 in Bitcoin with the initial price of the ETH token at $0.311 and over 60 million tokens sold. 

The Ethereum blockchain works as a network for multiple cryptocurrencies and also for the execution of decentralized smart contracts.

Ethereum originally launched — and currently runs — on the Proof-of-Work consensus algorithm. But due to the criticism of the mechanism for the energy consumption and the issues with scalability it causes, the developers of the platform decided to move it to the Proof-of-Stake. The process can be done at once and happens gradually. The transition is separated into stages and updates. The last stage of the Merge was planned for the beginning of July, but so far has only been successfully launched on the test net. 

The native coin of the Ethereum platform is Ether (ETH). It is used to pay for the transactions on the network. The token supply is not limited. The token issuance rate can be adjusted via a consensus mechanism, so the network can manage the issuance needed for adequate security. 

Ethereum Live Price Chart

A year ago, during the summer of 2021, Ethereum was performing like other assets in the market. On July 19 it dipped to $1787, the minimum of the year. But from that point, the situation in the market changed and all the assets, including Ether, went for recovery. By the beginning of August, the price of Ethereum reached $3100 and stayed at this level for almost a month, finishing last summer at around $3200. At the beginning of September Ether surged to $3900, but this lasted just for 6 days, and then it went back to the previous level of $3200. At the end of the month, the correction dropped the price by around 10% and the ETH token was trading for $2800. 

In October the bulls conquered the market again and most of the crypto assets started to grow again. It was a very successful time for Ethereum. At the beginning of October, it was trading for $3300 and was growing fast. On November 11 it hit its all-time high of $4812. In the middle of the month, the price of Ether went for a market correction, which brought its value down to the level of $4000. In the last days of November, Ethereum recovered and was trading for around $4600, but from that time its price chart started to decline slightly. At the end of 2021, it was trading for $3700. 

Since the beginning of 2022 though, the price of Ethereum has been following a downward trajectory. In the first week of January the ETH token dropped to $3090 and after a short recovery to its previous average of $3300 dipped to $2550. Despite this price loss, the Ethereum price predictions still were bullish at that point. At the beginning of February, the second largest cryptocurrency returned to its resistance level of $3200, but the price became more volatile, and by the middle of March reached $2500. 

In March many experts believed that the crypto market will flip and Ethereum along with other leading assets will not just recover the price, but get new gains. This Ethereum forecast didn’t come true, though the asset reached $3500 at the beginning of April. Since that time the ETH token started losing its value more quickly. 

By May 5 the price of the ETH token was $2700 and then collapsed in a matter of days dipping to $1900. It maintained this price level for around a month, declining slowly. 

Since the beginning of the summer, Ethereum has fallen to the level of 2018 and has shown pretty bad performance compared to the other assets on the market. Since the beginning of the year, it's been trading with strong bearish momentum. It failed to gain much support from the buyers and has already fallen below the psychological level of $1000, but managed to get back. At the moment Ethereum is trading around $1050-$1150. How will the token price behave in the near future is unclear and will depend on the market conditions. Some experts think that Ethereum might drop as low as $600-$700, but others see it more optimistically, assuming that the bearish period is over for Ether and it will start recovering soon. 

Ethereum Technical Analysis

After the market crash caused by the dip in the Bitcoin price earlier this year, Ethereum trended down for a while. However, since the late July trend reversal, Ether’s price has been moving in an upward channel. On the 7–8 August weekend, Ethereum seemed to get rejected at the resistance level of ~$3200, but it hasn’t been established yet whether this signals a longer-term reversal or just a temporary setback. If the price keeps going down, there might be new support at ~$2600 — the price correction might stop there, in which case it may be expected to reverse and go up to the new highs.

Below we have collected the most reliable price projections for Ethereum (ETH) from popular forecast platforms.

Ethereum Price Prediction for 2022

As of Ethereum price predictions for the rest of 2022, there are divergent opinions. TradingBeast expects an upturn towards $1336.733, and WalletInvestor echoes with ~$2238.356 by the year’s end. Other experts, for example, from PricePrediction.net, are more pessimistic about Ethereum’s future price, citing numbers downwards of $908.5092 in December.

Potential ROI: 14% Buy

Ethereum Price Prediction for 2023

In their Ethereum price predictions for 2023, WalletInvestor’s forecasts the coin’s price to go above $1619.5164 by December. Forecasting Ethereum's future, PricePrediction.net expects further growth, too, saying the Ethereum price will reach ~$2567.526 by that time. On the contrary, TradingBeast keeps predicting Ethereum price decline, quoting prices around ~$1106.315 in 2023.

Potential ROI: 34% Buy

Ethereum Price Prediction for 2024

Ethereum price predictions for 2024 are still predominantly positive, with some analysts promising prices in the $1326.524–$2383.1908 range (TradingBeast, PricePrediction.net), while WalletInvestor takes a different view and cites the possibility of the price reaching $210.6688 in December 2024.

Potential ROI: -1% Sell

Ethereum Price Prediction for 2025

WalletInvestor has only optimism in store for the 2025 Ethereum price prediction, valuing Ethereum at $1698.5172 by the end of 2025. TradingBeast agrees with a positive forecast and predicts, in turn, $1755.87 for the same period. On the other hand, PricePrediction.net’s team is more pessimistic — their Ethereum price prediction for December of this year is just $816.3416.

Potential ROI: 8% Buy

Ethereum Price Prediction for 2030

Speaking of long-term Ethereum price predictions for 2030, experts present two polar opinions. WalletInvestor expresses the view that Ethereum price will grow further and eventually reach $2449.0248 by the end of the decade. TradingBeast’s price prediction for Ethereum echoes with the projection of an uptrend to $2967.4203. Despite this, PricePrediction.net’s vision remains not so positive, promising a downfall to $618.8396.

Potential ROI: 53% Buy

Summary

As it can be clear from the analysis cited above, Ethereum (ETH) projections are rather contradictory. There is no universal consensus either about positive or negative future ETH price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Ethereum projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).

FAQ

Is Ethereum a good investment?

Yes, Ethereum is a good investment, in most experts’ opinion. According to some Ethereum price predictions, long-term gains on this investment can reach higher than 200%. However, one should always keep in mind that the crypto market is very volatile, Ethereum is not an exception.

Is Ethereum legit?

Yes, Ethereum is legit and has proven itself to be one of the most consistently developed and improved upon projects in the crypto space. One of its advantages is the openness with which the team and the community talk about the project, which further builds trust in Ethereum.

What is ETH worth?

As of August 2021, ETH is worth approximately $3000. This is a good recovery after the market crash of late spring – early summer of the same year when the price of Ethereum dipped below $1800 and ETH price forecasts were uncertain for a while. 

What will Ethereum be worth in 2030?

According to some Ether price predictions, in 2030 Ethereum might be worth close to $15000. Note that market volatility makes it hard to get an accurate Ethereum price prognosis for such a distant future.

What is Ethereum worth in 2025?

Several experts expect Ethereum to be worth $10000 or more in 2025. More conservative ETH price predictions put it at around $5000 at that point.

Is it smart to buy Ethereum?

Yes, it’s smart to buy Ethereum if your goal is getting some cryptocurrency in your portfolio. Ethereum is one of the cornerstones of the crypto space and as such, it’s one of the less risky investments.

Can I buy anything with Ethereum?

Ethereum can be used to buy goods and services on some crypto marketplaces or in DeFi projects. It can also be traded for other coins or fiat currencies on specialized exchanges.

Is it better to buy Ethereum or Bitcoin?

Compared to Bitcoin, Ethereum might be a slightly riskier investment. Nevertheless, a smart move would be buying both Ethereum and Bitcoin. This helps an investor to diversify their portfolio and limit the risks.

Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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