Experts See Lowest Price of $1,352 in 2023

Experts See Lowest Price of $1,352 in 2023

According to the latest prediction report from Finder, experts foresee the price of the cryptocurrency Ether (ETH) to reach an average value of $1,840 by the end of this year. However, they also predict a drop in price due to regulatory uncertainty and challenges in the macroeconomic environment, with an average lowest price of $1,352 in 2023. Despite this short-term decline, the panel of crypto specialists still believe that now is a good time to either hold or buy ETH, with nearly 90% of them expressing optimism in its long-term potential. With ETH expected to surpass $5,800 by the end of 2025, there is ongoing anticipation for its growth and market capitalization.

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ETH to Surpass $5,800 by the End of 2025

The U.S. dollar value of the cryptocurrency ether (ETH) is predicted to surpass $5,800 by the end of 2025, according to the latest Finder’s prediction report. This optimistic forecast comes from a panel of 31 crypto specialists who also anticipate an average lowest price of $1,352 for ETH in 2023. While the projected figures are lower than the previous predictions made in July, they still paint a positive outlook for Ethereum’s future value.

Predictions for ETH’s End of Year Value

Based on Finder’s October 2023 survey findings, the average end-of-year value for ETH is expected to be around $1,840. This forecast is $611 lower than the July prediction of $2,451, highlighting the influence of changing market dynamics and external factors on price fluctuations. However, despite the decrease in projected value, experts remain optimistic about the growth potential of Ethereum.

Lower than Previous Predictions

The surveyed panelists also forecast that ETH’s price will reach $5,824 by the end of 2025 and $14,411 by 2030, which are still significant milestones for the cryptocurrency. The figures are slightly lower than the July predictions of $5,845 by 2025 and $16,414 by 2030. These revisions reflect the panelists’ cautious approach given the current macroeconomic environment and regulatory uncertainties.

Current Value of Ethereum

At the time of writing, the U.S. dollar value of Ethereum stands at $2,006 per unit. This relatively high valuation demonstrates the strong market demand for ETH and its position as one of the leading cryptocurrencies. Despite short-term fluctuations, experts believe that Ethereum’s underlying technology and growing adoption will drive its long-term value.

Macroeconomic Factors Affecting Price

Many of the respondents attribute the lower price predictions to macroeconomic factors. High rates in traditional finance (Tradfi) are seen as limiting Ethereum’s growth potential in the current economic climate. The panelists believe that Ethereum’s price will experience a significant increase in the future, but not until the middle of next year, assuming the US authorities can achieve a soft landing in the economy. Economic challenges also contribute to a more cautious approach in the overall markets, adding to the downward pressure on ETH’s price.

Expert Opinions on ETH’s Prospects

Experts in the field share varied opinions on Ethereum’s prospects. Ruslan Lienkha, Chief of Markets at Youhodler, mentioned that Ethereum’s price is expected to increase dramatically once a soft landing is reached by the US authorities, but this is not anticipated until the middle of next year. Ben Ritchie, Managing Director at Digital Capital Management Pty Ltd, suggests that economic challenges will lead to a more cautious approach in the overall markets. Pav Hundal, Lead Market Analyst at Swyftx, draws parallels between ETH’s price movements and trends observed prior to bitcoin halving events.

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More Than 80% Assert Ethereum Is Either Underpriced or Fairly Priced

Meanwhile, despite the lower price predictions for 2023, the majority of the panelists (nearly 90%) believe that now is the time to either hold or buy ETH. Alongside this sentiment, around 83% of the panelists view ETH as either underpriced or fairly priced. These figures emphasize the positive sentiment surrounding Ethereum and the belief that its current market value does not fully reflect its potential.

Predictions for ETH’s Peak and Lowest Price

When asked about the potential peak and lowest prices for ETH in the remainder of 2023, the panelists predicted an average peak price of $1,932 and an average lowest price of $1,352. This range suggests that while there may be short-term fluctuations, Ethereum’s overall trajectory is expected to be positive.

Factors Affecting ETH’s Price

The panelists attribute the potential for ETH’s price to drop to as low as $1,200 to regulatory uncertainty and macroeconomic factors. These external forces can create volatility in the cryptocurrency market and influence investor sentiment. However, the panelists’ overwhelming recommendation to either hold or buy ETH indicates their confidence in Ethereum’s long-term prospects.

Panelists’ Recommendations on Holding or Buying ETH

Despite the predicted decrease in price, the panelists advise either holding or buying ETH at this time. Their confidence stems from Ethereum’s underlying technology, its growing popularity, and the belief that its market value does not accurately reflect its potential. This recommendation aligns with the majority sentiment of the panelists, indicating a positive outlook for Ethereum.

Views on ETH Market Capitalization

Regarding the possibility of ETH’s market capitalization surpassing that of BTC, opinions among the panelists are divided. While 43% do not see this happening, approximately 23% believe it could occur but not until 2030. This divergence in views reflects the uncertainty surrounding the future market dynamics and competition between different cryptocurrencies.

In conclusion, the experts’ predictions indicate a positive outlook for Ethereum’s future value, with a projection of ETH surpassing $5,800 by the end of 2025. Despite the short-term challenges posed by macroeconomic factors and regulatory uncertainty, experts still believe in the potential of Ethereum’s underlying technology and its ability to revolutionize various industries. Whether you choose to hold or buy ETH, it is clear that Ethereum remains a prominent player in the cryptocurrency market with significant growth potential in the years to come.

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