Ethereum is one of the most popular cryptocurrencies on the market, despite its present pricing, which is far from ideal. It has been hit by the general market downturn that has wracked the crypto industry, and it has now lost its footing above $3,000, a critical level for the digital currency. Nonetheless, according to reports from a Finder’s panel, the future of the second-largest cryptocurrency does not appear to be bleak.
A recent Finder’s panel of industry professionals gave Bitcoin a highly favorable long-term outlook. The panel of 36 industry professionals who took part in Finder’s quarterly poll offered their predictions for the digital asset. According to them, Ethereum’s price may still be in its early phases of development.
The digital asset, which is presently trading at just around $2,800, garnered some of the most positive reviews, with the general feeling being that there is still a lot of room for growth in 2022 alone. They predict that ETH Price will expand by 100% this year, with its price reaching $5,783 by the end of the year.
“Ethereum will jump from its current price of US$2,810 to US$5,783 by the end of 2022,” the panel said. “The price is expected to continue to rise going forward, hitting $11,764 by 2025 and $23,372 by 2030.”
Despite the altcoin’s bright outlook from current viewpoints, it is more pessimistic when compared to past forecasts. The panel had earlier predicted that Ethereum’s price would reach $6,500 by the end of 2022, however, this projection has been revised by around 10% in the most recent quarterly report. Nonetheless, digital asset has a promising future.
However, not everyone agreed with the bright forecast for ETH. John Hawkins, a senior lecturer at the University of Canberra, believes the digital asset will end the year below $2,000, according to one analyst.
What Will Trigger the ETH Price Surge?
There are a number of Ethereum forecasts floating around, all of which are dependent on the network’s impending enhancements. The upgrade to the consensus layer, which will see the network switch to a proof of stake system, is expected to boost the token’s value, and Finder’s experts seem to agree.
According to Keegan Francis, the global cryptocurrency editor at Finder, the long-term outlook for the cryptocurrency remains dismal until the modifications are completed. The network would be able to scale as a result of this. People will continue to acquire cryptocurrency because of “hype, promise, and potential,” said Francis.
The network is still the most popular Defi platform. However, after losing so much market share to competitors, the bitcoin editor isn’t optimistic right now. “At the moment, Ethereum is at a very uncertain point in its journey,” Francis remarked. “It is currently losing market share in DeFi (decentralized finance) to its competitors.”