What do experts think about Ethereum’s ability to reach $18,000 soon? Analyzing the latest forecasts and market trends.
August 5 was what many are calling Black Monday for cryptocurrencies, a day of extreme market turmoil as Ethereum (ETH) and other crypto assets saw significant price drops.
Amidst a broad sell-off in global financial markets, ETH price fell to a low of $2,100, a sharp 22% drop, marking its biggest single-day drop since May 2021.
Moreover, the price of ETH has fallen further, with bears dropping it by 3% in the last 24 hours, reaching around $2,430 levels as of August 8.
Meanwhile, the broader picture remains bleak as well, with ETH still down around 24% over the past seven days, even with a modest recovery.
In addition to the excitement, market activity around Ethereum-related financial products has shown mixed results. SignalsOn August 6, Ethereum ETFs saw their second-largest daily inflow, exceeding $98 million. By contrast, there was a net outflow of around $24 million on August 7.
To better understand what is happening with ETH, let’s delve deeper into expert opinions and factors to gauge Ethereum price predictions amid the current volatility.
What do the experts think?
Amid the recent turmoil in the cryptocurrency market, experts have offered their opinions that shed light on Ethereum’s performance and future prospects.
On August 6, Michael van de Poppe highlighted two major developments in Ethereum. First, he noted that Ethereum has become deflationary, with its supply declining at a 0.812% annual rate. Ethereum becoming deflationary means that more Ethereum is being burned than is being created, a positive sign for its value.
Secondly, he noted that on-chain activity has been strong, especially with decentralized finance (DeFi) platform AAVE generating significant revenue through trading, suggesting that DeFi, a major use case for Ethereum, is regaining its strength and could drive further growth for ETH.
On August 7, Van de Poppe also noted that while $160 million worth of ETH was created in 2024, the net inflow into ETH ETFs over the past two days was $150 million, suggesting that demand is quickly catching up with, and possibly exceeding, new supply.
Van de Poppe believes that if this flow continues, Ethereum could be significantly undervalued and poised for a significant price increase.
Another crucial aspect of Ethereum’s recent performance revolves around its technical upgrades, particularly Ethereum Improvement Proposal (EIP) 4844, which was implemented on March 13.
This update, often compared to Ethereum’s “broadband moment,” has dramatically increased the scalability of layer 2 solutions while reducing fees for users.
EIP 4844 introduced a new way of handling data by adding “blocks”, which in practice means more data and more block space on the network.
The impact of EIP 4844 was multifaceted. On the one hand, it led to a sharp drop in fees, with Ethereum fees falling by $679 million (57%) in Q2, which may seem negative at first glance, but it is important to understand the broader context.
The increased block space has improved user experience (UX) and network scalability, which is critical for long-term growth.
Despite the lower fees, network usage metrics were impressive. L2 transactions increased by 63% and L2 active users increased by 81% in Q2, reflecting the effects of the growing Ethereum network and demand for ETH.
As new use cases and new demand emerge, driven by improved scalability, improved user experience, and reduced supply, the economic outlook for Ethereum is likely to improve, which could have a positive impact on Ethereum price prediction.
Ethereum Price Prediction
As we look to the future, several experts have shared their predictions for Ethereum in the coming years. Let’s take a look at them year by year.
Ethereum Price Prediction 2024
For the year 2024, Cryptocurrency price The forecast indicates that the price of Ethereum may range from a minimum of $2,184.14 to a maximum of $5,289.03, with an average price of $5,085.90.
Quincodex American investment bank NBC seems to be a bit more optimistic, predicting that by September 7, 2024, the price of Ethereum could rise by 7.03% to around $2,554.44.
These forecasts point to some growth, but market sentiment remains cautious.
Ethereum Price Prediction 2025
In 2025, Digitalcoinprice expects ETH to see further growth, predicting prices between $5,231.85 and $6,303.69, with an average price of $6,194.84.
Coincodex also predicts potential growth, estimating that the price of ETH could fluctuate between $2,386.71 and $6,482.53.
Despite the discrepancy, both sources agree on an upward trend.
Ethereum Price Prediction 2030
Looking to 2030, the outlook is more optimistic.
Digitalcoinprice expects Ethereum to reach a range of $16,412.24 to $18,005.63, with an average price of $17,115.05.
Coincodex, while more conservative, expects a significant increase, with prices ranging from $5,488.20 to $11,821.
These long-term forecasts reflect growing confidence in Ethereum’s future and its potential to generate significant value.
When looking at these ETH price predictions, it is important to remember that these predictions can often fail. The cryptocurrency market is highly volatile, and many factors can influence prices. Therefore, it is crucial that you do your own research and never invest more than you can afford to lose.
Disclosure: This article does not constitute investment advice. The content and materials on this page are for educational purposes only.