Study lowers Ethereum price expectation for next 7 years – crypto.news
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Cryptocurrency experts have lowered their predictions for Ethereum (ETH), over the next few years, according to a new survey from Finder.
The survey asked 31 industry specialists for their ether price forecasts for the end of 2023, 2025 and 2030. The average predictions were down compared to a previous Finder survey conducted in July 2022.
The panel predicted Ether will be worth $1,840 on average by the end of 2023, down from a prediction of $2,451 in July. The 2025 forecast fell to $5,824 from $5,845 previously, and the 2030 prediction declined to $14,411 versus $16,414 in the earlier survey.
Finder calculates the average forecasts by removing the top and bottom 10% of responses and taking the mean of the rest, a technique known as the truncated mean. This is designed to eliminate outliers and arrive at a more consistent consensus.
While still bullish long term, some panelists cited near-term economic challenges and competition from other blockchains as reasons for tempered short-term expectations.
ETH has a huge growth potential. […] Growth is [currently] limited by high rates in TradFi. In [the] case of reaching a soft landing by US authorities, ETH[‘s] price will increase dramatically, but not until the middle of next year.
Others pointed to historical price patterns around Bitcoin (BTC) halvings. “Historically, as we approach a Bitcoin halving, Ethereum tends to revisit its price valuations from earlier that year,” explained Pav Hundal of cryptocurrency exchange Swyftx.
The panel predicted ETH could climb as high as $2,800 but also slump to $1,200 or below by year-end 2023. Nearly half see it finishing the year between $1,751 and $2,000.
Most experts said now is a good time to hold or buy Ether, though around 17% believe it is currently overvalued. Asked if and when ETH’s total market value could surpass Bitcoin’s, 43% of panelists said they don’t expect that to ever happen. But around 20% think the ‘flippening’ — with Ethereum’s market cap overtaking Bitcoin’s — could occur by 2030.
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