Read our analysis on How High Will Ethereum Go This Year and also read our Ethereum Price Prediction 2022
Since January 2022, Ethereum has lost over 50% of its value. Ethereum in the first week of January was trading at over $3700 and 7 months down the line, Ethereum’s price is below $2000. At one point, Ethereum’s price went below $1000 creating fear among the investors. If we talk about Ethereum’s all-time high, in 2021, on November 16th, Ethereum reached its all-time high. ETH price touched $4,891.70 but since then there has been a retreat in the price of Ethereum. ETH has lost over 60% of its ATH value.
How High Will Ethereum Go This Year: A Simple Calculation
What If Ethereum Rises 20% and 50% Every Month?
|Price as of July 29th||$1724|
|Market Cap as of July 29th||$209 B|
|If Ethereum were to rise 5% a month, what will be Price By the End of 2022?||$2200|
|If Ethereum were to rise 10% a month, what will be Price By the End of 2022?||$2777|
If Ethereum gains 5% every month from now, then by the end of December 2022, Ethereum’s price would be $2200 and if ETH rises 10% every month, we may see ETH’s price at over $2,777.
How High Will Ethereum Go This Year: Analysts’ Prediction
PricePrediction.net: As per the analysts at PricePrediction.net, the maximum Ethereum Price Prediction for the end of 2022 is $2899. The platform predicts the minimum price of ETH by the end of 2022 could be $2405. For the rest part of the year, the average Ethereum Price Prediction 2022 is $2504.
LongForeCast: According to LongForecast, the maximum predicted price for ETH for the end of 2022 is $3010 and the minimum price prediction is $1027.
How High Will Ethereum Go This Year: Factors That Could Influence the Rise of Ethereum
Several factors have been responsible for the price fluctuation of Ethereum and the rest of the cryptocurrencies in recent times. Here are a few factors that could influence the rise of Ethereum:
- Ethereum Merge: Ethereum Merge or Ethereum 2.0 has been one of the most debated topics recently. Ethereum merge is shifting the entire Ethereum network from Proof-of-Work to Proof-of-Stake. With this, the network of Ethereum will be more energy efficient and the gas prices of ETH will fall steeply. Once the ETH merge happens, the price of ETH is expected to rise steeply.
- Increase in the Long-Term Holders: The surge in the price of Ethereum will also depend on the holders. If there are maximum short-term holders then there are maximum chances for the price to rise temporarily as these holders look for short-term profit and exit the market after they make some profit out of their investment. Therefore, for the price of ETH to rise, there must be an increase in the number of long-term holders,
- Government Action: Recently the role of governments around the world has influenced the price of cryptocurrencies including Ethereum. The crypto ban by China led to the crypto market crash, and the increase in the Fed’s rate has also played a major role in determining the price of cryptocurrencies. Therefore, any positive move by the Government of bigger economies will benefit the crypto market and any negative move will lead to a crash.
How High Will Ethereum Go This Year: A Video Analysis