What is the Ethereum price forecast?
Ethereum Price Forecast….. After an impressive performance in 2020, eyes are now turning to the Ethereum price prediction for 2021. This is going to be an important year for this cryptocurrency, especially considering that the long-awaited Phase 0 upgrade to the Proof of Stake mechanism has now begun.
Even if the most optimistic Ethereum predictions of December 2019 did not come true, the price of ETH has surged this year.
Overall, since the beginning of 2020, the second largest cryptocurrency in the world is up more than 330% at $130.
At the highest point, Ethereum managed to reach $635, breaking the most important psychological mark of $600 in a meaningful way.
Contents
1 Ethereum price forecast
2 What are the expectations for the price of Ethereum in 2021?
3 digital currency wallets
Ethereum price forecast
A lot of questions, will Ethereum rise more than that?
Well, it largely depends on how smoothly the difficult transition from Proof of Business model goes.
This process could take several years to complete and has already suffered from technical difficulties and delays.
In other words, this work needs to be done urgently, especially given that the blockchain is facing demand pressure from the DeFi protocol.
Enthusiasts who made ETH price predictions point out that since the beginning of this year, the growth of the cryptocurrency has outpaced that of Bitcoin… and there is still room to work.
With institutional demand booming, Bitcoin hit a recent high, but Ethereum’s watermark rose to $635.
This is nearly 56% from the high of $1,432 at the start of 2018 – indicating that there may be enough growth opportunities.
What are the expectations for the price of ethereum in 2023?
Bloomberg Intelligence analyst Mike McGlone said that ETH and XRP have outperformed BTC this year.
In a recent report, examining storage content in the cryptocurrency space in 2023, he wrote:
“Because of its public location, Bitcoin may be ready for a year.
But Ethereum has seen the journey as the most important crypto platform.
One of them could power a whole new financial system, a more open and resilient internet.”
Selkis noted that Ethereum may even outpace Bitcoin in terms of economic value transferred through its network.
By the end of 2020, the blockchain will be launched to handle huge transactions worth $1 trillion.
Regarding the Ethereum price prediction, the analyst carefully emphasized that Ethereum is not a currency.
And that the exceptional level of demand will not necessarily translate into a new record:
“Bitcoin will remain the most valuable digital currency, cryptocurrency or US dollar indefinitely.
But not necessarily for Ethereum and similar coins.”
The question of whether Ethereum will rally depends largely on whether it can continue to stay above $600.
A push to $700 could open the door to more gains.
At that time, the $900 and $1000 resistance levels seemed very small.
Cryptocurrency wallets
Keeping your digital currency in a safe place is one of the top priorities.
It is also the first step for every investor using digital currency.
So what is the best cryptocurrency wallet device in 2021? After we talked about Ethereum price predictions 2021.
One of the best ways to keep digital currency is a hardware wallet to protect digital currency from theft.
Since the hardware wallet is offline.
They reduce the risk of being attacked, hence the name cold wallet.
Although wallets are more secure than mobile or desktop wallets because they are connected to the internet.
Not that it is still subject to human error and scammers.
To avoid these risks, we recommend only using reputable and reputable wallets and purchasing hardware wallets from their official website.
