Ethereum has been a victim to bearish economic conditions plaguing marketplaces. Interest rate hikes have put bearish pressure on assets. Panicked investors have begun selling assets, reducing liquidity in marketplaces. Fear is rising. Supply chain issues remain present from the COVID-19 pandemic. An energy crisis has begun to spread across Europe. All these circumstances impact investor sentiment and market conditions. Crypto has begun to trade as a true risk-on asset, closely following the price action of tech stocks.
What is Ethereum?
After Bitcoin, Ethereum is the most prominent blockchain by market capitalization. Ethereum is a Layer 1 blockchain that is represented by its native coin Ether, which is used to participate on the network. Much like Bitcoin, Ethereum operates as a decentralized ledger, where transactions are peer-to-peer, uncensored and governed by code. The key differentiating factor for Ethereum is that it’s built with smart contracts. Developers can easily build on the Ethereum network, creating decentralized applications (DApps.) Much of the Web3 narrative in crypto is based on the potential of Ethereum, as it could potentially be a new internet where the backend is decentralized rather than controlled by large corporations.
Ethereum Market Position
While many believe Ethereum is likely to flip Bitcoin, they are not exactly direct competitors. The two blockchains serve different purposes. Bitcoin is recognized as mostly finished on its technological end. Ethereum, on the other hand, has a community of developers actively improving the network. In that way, Bitcoin functions as a tamper-proof store-of-value, and Ethereum acts as a new sort of internet.
While Bitcoin maximalists often argue that Bitcoin is the only worthy cryptocurrency, it is unlikely that Ethereum does not stick around. And while Ethereum users have termed “The Flippening,” pointing to the inevitable date that ETH flips BTC, both coins can thrive.
David Hoffman’s Bullish Long-Term Ethereum Price Prediction
Bankless has become one of the most popular crypto podcasts. Co-host David Hoffman has shared his bullish outlook on Ethereum’s long-term performance numerous times. His key point as of late has been in regard to The Merge. With Ethereum merging from proof of work to proof of stake, the supply of Ether will decrease in the long term. Hoffman has spoken about how current economic trends nearly all markets in a negative manner, but Ethereum’s impact long term, paired with a deflationary supply, could make for a potential surge in price.
Warren Buffett’s Bearish Long-Term Ethereum Price Prediction
Perhaps the most concerning Ethereum bear is Warren Buffett, the most famous investor of all time. Buffett is largely a value investor. His thesis is that much of crypto holds no true value and is an example of the greater fool theory. Buffett also held a similar stance during the rise in tech stocks. It may be that only a few cryptocurrencies make it out of the bear market and reap the rewards of this technological advancement.
2023 Ethereum Price Prediction
Predicting the ETH price is difficult and should not be regarded as investment advice. Most ETH price predictions are long-term bullish, including the 2023 prediction from Tekedia which calls for a low of $3,110 and a max of $5,093 by year's end. This prediction is based on increased adoption as well as a breakthrough in resistance at the $3,000 level.
2024 Ethereum Price Prediction
Tekedia goes on to predict another record year in 2024, with more stable price action in post-merge Ethereum. Ether will become a mostly deflationary currency, and holders could begin to feel the benefits of the burned supply.
2025 Ethereum Price Prediction
The Economy Forecast Agency shares a bearish prediction on ETH in 2025, falling from a $9,400 level to around $3,000. The prognosis remains bearish for 2026.
2026 Ethereum Price Prediction
The Economy Forecast Agency believes in a continued drop in the ETH price through the remainder of 2026. Keep in mind that this is based on its models, and many ETH believers do not support this predicted trend.
2027 Ethereum Price Prediction
A drop in proof-of-work cryptocurrencies in 2027 is predicted by Tekedia. This in turn would prove bullish for cryptocurrencies running on a proof-of-stake consensus mechanism such as chains like Ethereum. Tekedia goes on to say that because of this theme, ETH could touch $8,250 in 2027.
2030 Ethereum Price Prediction
Tekedia believes it is in 2030 that ETH will break the $10,000 mark. At this level, the Ethereum network will have become widely adopted with many DeFi use cases. Expect a number of large price swings before ETH finds $10,000 (if it ever does).
Where to Buy Ethereum
Were you convinced by the above bullish Ethereum price predictions? Luckily, it's easy to buy Ethereum. It can be bought in a couple of ways. The most common purchasing avenue is through a centralized exchange. ETH is traded on including 3 of the best exchanges available today: Uphold, Coinmama and Gemini. Users could also purchase ETH on a decentralized exchange (DEX) like Uniswap.
- securely through Coinmama's websiteBest For:High Spending LimitsRating:
How Long Will It Take for Ethereum to Reach All-Time Highs?
During the last run-up, Ethereum touched over $4,800. The coin has since crashed over 65% and is hovering around $1,200. To see Ethereum at this level again, the most important factor is that the macro environment will need to change. When the Fed is in a tightening cycle, assets tend to suffer. Risk-on assets like crypto suffer the most. Once liquidity is back in the system, however, risk-on assets tend to reverse in a rapid manner.
Along with macro conditions changing, Ethereum will need to see improvement in scalability, interoperability, developer activity, number of users and many other technical aspects that make the blockchain useful. Without the continued improvement of the blockchain, one of the many other Layer 1 blockchains could begin to catch up to Ethereum.
Where to Store Ethereum Safely
If you are using a centralized exchange to purchase crypto, that exchange is storing it for you, which can be good and bad. The good news is you will not have to worry about managing your seed phrase. Crypto users have lost millions by forgetting their passwords and seed phrases. However, the drawback is the centralized exchange holds your keys. This means that many cool features of DeFi are unavailable.
If you are purchasing in a decentralized manner, crypto is best stored in a hardware wallet. This is because software wallets can be compromised much easier than hardware wallets, which never touch the internet.
Best Hardware Wallet: Ledger Nano S Plus
One of the most trusted hardware wallet companies is Ledger. Its flagship product, the Nano S, is widely regarded as the top hardware wallet for crypto users for a great price.
Best Software Wallet: MetaMask
MetaMask is easily added as a Chrome extension. It enables users to connect to many cool decentralized applications. MetaMask and Ledger Nano S can be paired as a one-two punch for exploring Web3 and safely storing digital assets.
Current Crypto Prices
There is no sugarcoating the current condition of the crypto market. However, where some see pain and distress, others see opportunity. A good time to buy great assets is in bear markets. Bear markets are where millionaires are made in preparation for bull markets where profits are realized.
So, is Ethereum a Good Investment?
If you believe in the future of DeFi, then ETH is about as safe a bet as they come. Of course, the macro conditions in the economy are likely to rock the price. Investors need to have a strong stomach, at least in the short term, if looking to purchase any digital assets.
- Exclusive Crypto Airdrops
- Altcoin of the Week
- Insider Interviews
- News & Show Highlights
- Completely FREE