In 2023, the crypto markets witnessed a blazing rally, largely boosted by improving global economic conditions and a surge in investors’ risk appetite. Bitcoin (BTC), the pioneering digital asset, has been at the forefront, attracting massive attention due to its soaring value and increasing institutional acceptance.
Meanwhile, despite a notable surge, Ethereum’s (ETH) performance this year has been overshadowed by Bitcoin’s dominance, leaving many to ponder the reasons behind its underperformance.
To seek professional views on this matter, finance platform Finder consulted 32 fintech and crypto experts to offer their year-end price predictions for Ethereum, with the results showing notably bullish expectations for the world’s second-largest cryptocurrency.
According to information shared with Finbold, ETH is expected to end the year at $2,451, indicating a potential price increase of more than 30% from the crypto asset’s current price. In the meantime, Ethereum is projected to reach its 2023 peak of $2,700, the finance specialists predicted.
Going forward, the projections for Ethereum were even more optimistic. In particular, the panel of experts expects ETH to hit $5,845 by the end of 2025, and a whopping $16,414 before the end of 2023, suggesting a potential upside of more than 780% for the remainder of this decade.
Among 29 finance professionals that were consulted by Finder were Omnia Markets founder and CEO Mitesh Shah, Swyftx head of product Tommy Honan, and Digital Capital Management managing director Ben Ritchie.
Notably, Shah’s end-of-year prediction for ETH was in line with the panel’s consensus estimates, while Swyftx’s Tommy Honan was slightly more bullish on Ethereum’s near-term prospects.
“Ethereum remains as the standout second choice investment for both the retail and institutional investor alike. Following the successful upgrade to proof of stake, which has been akin to “changing a jet plane engine, mid-flight”, ETH has become more efficient and deflationary to mention a few,” he said.
– said Shah.
On the flip side, Ben Ritchie was among those who were more cautious in their ETH predictions, primarily due to the rising growth of centralized staking solutions in the crypto space.
“The decentralised nature of Ethereum could potentially work in its favour; however, our concerns arise as the prominence of centralised staking solutions increases, posing a threat to the decentralisation of the network.”
– Ritchie noted.
Overall, the majority of the panel, 56%, think now is a good time to purchase ETH, while 41% and 4% advised holding and selling the cryptocurrency, respectively.
Ethereum price analysis
At the time of writing, ETH was changing hands at $1,861, down 0.54% on the day.
The crypto asset fell around 1.6% in the past week, while its monthly price remained relatively flat.
Still, ETH is up over 55% since the start of the year, driven by a broader crypto market rebound.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
