ETH price has increased by 2500% since the beginning of 2020 and its market cap has risen to around $400 billion. Meanwhile, Ethereum's smart contract capacity blockchain competitors BNB, Solana, and Cardano also saw increases. Investors believe these blockchains can steal market share from Ethereum.
In a survey of crypto experts, it is predicted that in 2022, the price of Ethereum could rise to the levels of $ 7600. This is almost twice the price of Ethereum at the beginning of the year.
Estimating that Ethereum will rise to $7000 in 2022 and then fall to $6000 by the end of the year, Fred Schebesta, the founder of Finder, said that Ethereum faces competition.
“While the Ethereum network certainly has some advantages in its global market awareness and developer base, it also faces increasingly strong competition.”
Schebesta sees this "intense competition" as the reason why the price will drop to $6000 again at the end of the year.
According to a survey of 33 experts by Finder, the Ethereum price is predicted to reach around $11,000 by the end of 2025 and $26,000 by the end of 2030.
Just over half (52%) of respondents think it's time to buy Ethereum, while 30% advise investors to "wait". Only 19% think it is the right time to sell Ethereum. Meanwhile, almost 80% of respondents think that Ethereum's transition from PoW to PoS model will likely lead to an increase in Ethereum price.
Panelist and Thomson Reuters technologist Joseph Raczynski, who thinks that the Ethereum price will rise to $8,000 by the end of 2022 and to $15,000 by the end of 2025, explained the critical element.
"Scalability and efficiency are crucial, but doing this in a decentralized way along with security is critical."
By the end of 2020, Ethereum was starting to move towards Proof-of-Stake, which is expected to help scale the network, reduce fees and increase transaction times. The process is expected to be completed by June 2022.
Another panelist and CoinSmart CEO Justin Hartzman explained the conditions for the sharp rise in ETH price.
“If the Ethereum 2.0 model is successful and proof of stake is implemented properly, we can expect Ethereum to rise sharply.”