Ethereum Price Set to Reach $2,500 by Year-End, Predicts Finder’s Panel
The price of ethereum (ETH), the world’s second-largest cryptocurrency by market cap, is anticipated to hit a high of $2.7K before settling at around $2.5K by the end of 2023, according to the latest report from Finder. The report is based on predictions by a panel of 29 cryptocurrency and fintech experts who also expressed confidence about the long-term growth of the digital currency. Additionally, most panelists believe it’s unlikely the Securities and Exchange Commission (SEC) will classify ETH as a security.
Ethereum Price Predictions and Market Outlook
Ethereum’s price uptick can be attributed to bitcoin’s recent surge, according to Omnia Markets founder and CEO, Mitesh Shah. He noted that as bitcoin’s value increases due to factors like institutional adoption, ether’s price is also expected to rise as investors look to diversify their portfolios. Shah gave an end-of-year prediction aligning with the panel average at $2,400, in Finder’s latest ETH price prediction report.
Swyftx’s head of product, Tommy Honan, is even more bullish, predicting ether to end the year at $2,500. He attributes his forecast to the successful upgrade to a proof-of-stake (PoS) consensus mechanism. He thinks the upgrade has made Ethereum more efficient and deflationary and has boosted its appeal among both retail and institutional investors.
“Ethereum remains the standout second choice investment for both the retail and institutional investors 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,” Honan remarked.
The panel’s optimistic view extends beyond 2023. They predict that by the end of 2025, ethereum’s price will reach $5,845 and rise further to $16,414 by the end of 2030. Futurist Joseph Raczynski is even more bullish, forecasting a price of $8,000 for ETH by 2025, and nearly doubling to $15,000 by 2030.
Raczynski believes that a number of regulatory hurdles will be overcome this year for ethereum, which will contribute to its overall growth. He adds that despite short-term growth, ethereum’s real price potential lies in the next 5-10 years.
A significant part of the panel discussion revolved around the SEC’s potential classification of ETH as a security. The majority (67%) of Finder’s panel do not believe that ETH will be deemed a security. However, 11% believe it is likely, while the remaining 22% are uncertain.
Seasonal Tokens founder Ruadhan O is part of the majority who believe that it’s unlikely ETH will be deemed a security. He expressed concern that such a ruling would limit the ability of U.S. residents to access smart contract technology.
“If ethereum is declared to be a security, then exchanges would not be able to offer it to U.S. residents without violating securities laws,” the Seasonal Tokens executive said. “This would make the US into the only country in the world where there is no easy access to smart contract technology.”
Digital Capital Management Managing Director Ben Ritchie, who falls within the 22% uncertainty bracket, noted that Ethereum’s decentralized nature could work in its favor. However, he expressed concerns about the increasing prominence of centralized staking solutions, which could pose a threat to the network’s decentralization.
Concluding the report, the majority (56%) of Finder’s panel believe now is the right time to buy ETH. About 41% advise holding onto the cryptocurrency, and a mere 4% suggest selling. You can read Finder’s report in its entirety here.
What do you think about the latest ether predictions by Finder’s experts? Share your thoughts and opinions about this subject in the comments section below.