Even if you’re remotely interested in cryptocurrencies, you must have heard of Ethereum, the second-most popular cryptocurrency after Bitcoin. It is also the top altcoin available in the crypto space today. For those who don’t know, Ethereum is a decentralized blockchain platform that facilitates peer-to-peer transfers and aids in the creation of dApps using smart contracts. The platform uses Ether (ETH) as its native currency to facilitate any transactions on the platform.
Owing to its real-time utility, several developers rely on Ethereum to build their dApps, NFTs, play-to-earn games, and more. As Ethereum is getting adopted across processes in different industries, its prices are also increasing with time. But what will the future of Ethereum price be like? To answer this question, we’ve prepared the only guide you’ll need on the future of Ethereum pricing, so you can plan your decisions accordingly.
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Ethereum Pricing: The Past, Present, & Future
After reaching its all-time high in late 2021 at $4,800, Ethereum came down crashing later with the other cryptocurrencies. Luckily, Ethereum was among the few that managed to pick up pace after the steep fall. The year 2022 was started at a low note of around $2,200, but experts predict these figures to almost double by the end of the calendar year. Even though the entire crypto market fell by trillions overnight at the beginning of 2022, things are slowly improving.
To gain better clarity on Ethereum pricing, a panel of financial experts was set by Finder, and a detailed report was prepared. After studying the report, we found the experts were quite bullish on Ethereum’s growth prospects in both the short and long term. Some experts even believe that Ethereum’s price can touch the $6,500 mark by the end of 2022. If these predictions come true, It will witness a jump in price, which will be over 100%. If you’re someone who always invests, keeping the long-term perspective in mind, there’s good news for you too.
Crypto experts believe that Ethereum’s price will continue growing with time. So if you buy and hold Ethereum at present times, you’ll probably have a profitable ETH to INR conversion at a future date. Even though financial experts have good things to say about prices, we would suggest always conducting our own research and analyzing risk appetite before investing in any cryptocurrency.
What can Drive the Ethereum Price Hike?
Like most financial events taking place worldwide, it can be difficult to find out one catalyst solely responsible for the change. Though financial experts didn’t unanimously agree on a single factor, most believe that a major catalyst behind Ethereum’s price growth is the shift to the proof-of-stake model. Earlier, Ethereum relied on the proof-of-work method to validate transactions, which was a highly energy intensive method.
As Ethereum fully moves to the proof-of-stake model, it will have a positive impact on Ethereum’s price. This move will make Ethereum a deflationary asset, as the new method will lock up ETH for staking rewards.
Should You Buy Ethereum Now?
Since most of the financial and crypto experts are painting a rosy picture of Ethereum’s price, you may be easily tempted to go ahead and include it in your portfolio. But since cryptocurrency is a risky investment, you should assess your risk appetite, budget, and ability to withstand the rapid price changes before making any investment in Ethereum.
There are some panellists at Finder that believe buying at current price can be beneficial for investors in the long run. If you’re still skeptical, you might want to invest the minimum and see how Ethereum performs in the months to come. Since many predict its prices to increase in the years to come, you’ll have enough time to test out these predictions for yourself.
