Cryptocurrency portfolio diversification is a good idea to hedge your investment against adverse market volatility as well as to capitalize on the bull run across the underlying assets in spot and futures trading instruments.
What after bitcoin? If you have this in mind, then Ethereum (ETH) has the answer! Ethereum is a decentralized platform based on proof-of-work consensus algorithms.
At PCEX Member, we care about your dreams and hard-earned money! In today's post, we are to discuss the future of Ethereum and answer many unanswered queries in a quick and easy manner.
Before we begin, here is the current status of this leading cryptocurrency.
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ETH Price Prediction 2021
If we perform a basic technical analysis of the ETH price from October 21, 2020 (USD380.00) to March 17, 2021 (USD1,773), we can easily notice a significant gain. Anyone would admit this almost 400% increase over 5 months as an exponential rise. If the momentum continues till December 2021 from now onwards, ETH is likely to cross the USD10,000 mark. Even if we take into account the slowest pace from Feb 03, 2021 (USD1554) to March 17 (USD1793), its value increased by 16 percent. With this month-on-month growth, the ETH value has the potential to deliver a decent hike over your investment. Remember, the annual interest rate of 6 to 7 percent that the banks pay in India when you keep your money blocked for a minimum period of 9 months or so.
ETH Price Prediction 2022
Ethereum is expected to strike partnerships with a number of cryptocurrency businesses in the coming years. Thanks to its built-in ERC-20 compatibility standard that makes it host other cryptocurrencies. Ethereum’s capability to execute smart contracts (more robust, censorship-resistant, and less prone to fraud) using the blockchain, makes it useful for inclusion in other businesses as well. These innovative use cases are likely to see adoption in 2021, and the impact of those partnerships can be felt in 2022.
ETH Price Prediction 5 Years from Now
Based on the Fibonacci extension
Fibonacci extension is a trusted technical analysis tool. It can help you know the value of ETH over different points of time – short, additional short-, medium-, and long-term. Applying FIB ratios (23.6%, 38.2%, 61.8%, and 78.6%), the four possibilities come out as follows: $1700, $2200, $3700, $5100 and $5700. The tool also helps you know entry orders and stop-loss levels, or set price targets. Unlike moving averages, Fibonacci retracement levels are static.
Defying the Expert’s Opinions
Ethereum price surges in the recent past and current times have proved many experts wrong. Let’s start off with Mike McGlone of Bloomberg. He projected a range of $500 to $700 when the year began, but the value has almost doubled. TradingBeasts had predicted the ETH price to hit $236 by the end of 2021 and $680 mark by 2025.
Brian Schuster - Founder of Ark Capital too has a bullish view on ETH. He expects the value to reach the mark of $100,000 by 2024.
This bull run of Ethereum has the potential to defy all predictions. The best way to grow your investment portfolio is to apply the technical analysis tools and use your common sense.
PCEX Member is here to help you with your mission. Stay tuned to the best crypto trading practices and experts’ guide available with our knowledge bank. Cheers!
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