Ethereum continues to trend upward and may soon surpass $1,600. This would make Ethereum the second-largest crypto by market capital and allow it to reach $1,700. It will also help it regain its early 2022 levels.
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However, a survey from recent years shows that there are still some issues. published by Finder claims ETH’s price is far from hitting that price target. According to 54 industry professionals interviewed, the second crypto market cap will reach $1,700 by 2022, according to the survey.
This would suggest ETH’s price current price action is a “fakeout”, an uptrend to trap bullish investors into taking long positions before re-testing lower levels. The survey claims ETH’s price could bottom after experiencing another massive crash.
The cryptocurrency recorded a yearly low at around $950, but Finder’s experts expect ETH to reach another low at $674. As seen below, a large portion of Finder’s panel expects ETH to drop to around $500 to $800 with a minority predicting a re-test of the 2020 lows below $499.
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Some of the survey participants believe “The Merge” will be ETH’s price major bullish catalyzer. This event will complete Ethereum’s transition into a Proof-of-Stake (PoS) consensus protocol and will allegedly open up the door for network improvements and more scalability.
Joseph Raczynski (technologist and futurist at Thomson Reuters) is an example of this.
ETH is still considered the best for success. The Merge has not been priced in. The platform it built still supports hundreds of millions of dollars in transactions and value with thousands upon thousands of tokens. Ethereum is the mainstay of crypto-world at this point.
Ethereum Price Predictions for The Long Term
In the long run, Finder’s experts believe ETH’s price could see as much as $20,000 with a majority expecting the cryptocurrency to break above $10,000 in the next two years. The successful implementation of “The Merge” on the Ethereum mainnet will be crucial in its future price development.
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Managing director of Digital Capital Management Ben Ritchie believes ETH’s price would continue to trade in tandem with the current macro-economic factors. These could be mid-term barriers for Ethereum in reclaiming previously lost territory. Ritchie said:
Since Ethereum’s correlation to Bitcoin is still high, we can speculate that if Merge happens before the year-end, its price may decouple. But, there are many factors that could impact the price action, including the external economic factor. We also estimate that the Ethereum price will reach as high as $15,000 in 2030 due to the upcoming upgrades to the ETH’s tokenomics, such as deflationary emissions and scalability.