What do experts think about Ethereum’s potential to reach $18,000 soon? Analyzing the latest predictions and market trends.
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August 5 marked what many are calling crypto black Monday, a day of intense market turmoil that saw Ethereum (ETH) and other crypto assets experience dramatic price drops.
Amid a widespread sell-off in the global financial markets, ETH’s price plunged to a low of $2,100, a steep 22% decline, representing its largest one-day drop since May 2021.
Moreover, ETH’s price has declined even more, as bears slacked it up by 3% in the last 24 hours, bringing it to around $2,430 levels as of August 8.
Meanwhile, the broader picture also remains bleak, with ETH still down about 24% over the last 7 days, even with the modest recovery.
Adding to the intrigue, market activity around Ethereum-related financial products showed mixed signals. On August 6, spot ETH ETFs saw their second-largest one-day inflow of over $98 million. In contrast, there was a net outflow of about $24 million on August 7.
To better understand what’s happening with ETH, let’s delve deeper into expert opinions and factors to gauge Ethereum’s price prediction amid the current volatility.
What do experts think?
Amid the recent turmoil in the crypto market, experts have weighed in with insights that shed light on Ethereum’s performance and future prospects.
On August 6, Michaël van de Poppe highlighted two key developments for Ethereum. Firstly, he noted that ETH became deflationary, with its supply decreasing at an annual rate of 0.812%. ETH becoming deflationary means that more ETH is being burned than created, a positive sign for its value.
Secondly, he pointed out that on-chain activity was sturdy, particularly with the decentralized finance (DeFi) platform AAVE generating substantial revenue through trading, indicating that DeFi, a key use case for Ethereum, is regaining traction and could drive further growth for ETH.
On August 7, van de Poppe also pointed out 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 rapidly catching up with, and potentially exceeding the new supply.
Van de Poppe believes that if this inflow sustains, Ethereum could be highly undervalued and poised for a substantial price increase.
Another crucial aspect of Ethereum’s recent performance revolves around its technical upgrades, particularly Ethereum Improvement Proposal (EIP) 4844, implemented on March 13.
This upgrade, often compared to a “broadband moment” for Ethereum, dramatically increased the scalability of layer 2 solutions while reducing fees for users.
EIP 4844 introduced a new way of handling data by adding “blobs,” which effectively means more data availability and increased block space on the network.
The impact of EIP 4844 has been multifaceted. On the one hand, it has led to a stark drop in fees, with Ethereum fees decreasing by $679 million (57%) in Q2, which might seem negative at first glance, but it’s essential to understand the broader context.
The increased block space has improved the user experience (UX) and scalability of the network, which is crucial for long-term growth.
Despite lower fees, the network’s usage metrics have been impressive. Transactions on L2 solutions increased by 63%, and active users on L2s grew by 81% in Q2, reflecting Ethereum’s growing network effects and demand for ETH.
As new use cases and demand emerge, driven by enhanced scalability, improved UX, and reduced supply, Ethereum’s economic outlook could likely improve, which could possibly have a positive effect on Ethereum price prediction.
Ethereum price prediction
As we look ahead, many experts have shared their Ethereum predictions for the coming years. Let’s break it down year by year.
Ethereum price prediction 2024
For 2024, Digitalcoinprice forecasts that Ethereum’s price could range from a minimum of $2,184.14 to a maximum of $5,289.03, with an average price of $5,085.90.
Coincodex is slightly more optimistic, predicting that by September 7, 2024, Ethereum’s price might rise by 7.03% to around $2,554.44.
These predictions suggest some growth, but the 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 sees potential growth, estimating that ETH could fluctuate between $2,386.71 and $6,482.53.
Despite the variation, both sources agree on an upward trend.
Ethereum price prediction 2030
Looking ahead to 2030, the predictions become even more optimistic.
Digitalcoinprice forecasts Ethereum could reach between $16,412.24 and $18,005.63, with an average price of $17,115.05.
Coincodex, while more conservative, still predicts a substantial 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 achieve a large value.
When considering these ETH price predictions, it’s essential to remember that these forecasts can and often go wrong. The crypto market is highly volatile, and many factors can influence prices. Therefore, it’s crucial to do your own research and never invest more than you can afford to lose.
Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
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