Ethereum’s 2022 Price Prediction Revised By Experts Because Of Web 3.0

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Last Updated on 16 February 2022 by CryptoTips.eu

Jeroen Kok

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The Australian fintech panel of 33 crypto specialists has recently updated its price prediction for Ethereum (up 7% today) after a bearish end of 2021 failed to push a dent into Vitalik Buterin’s coin. By now they are more bullish than ever about the long term prospects of Ether.

Just as Bitcoin and other cryptocurrencies, Ether had a poor start to 2022. However, with some 9 million ETH staked, another major milestone for ETH2.0 staking was reached that month as well.

Furthermore, it looks like the $2,500 level is Ethereum’s new support level as from now.

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$7,600 in 2022

Although recent scalability issues have allowed competitors such as Cardano, Solana and Terra to provide alternative options for developers to build on, Ethereum is still the go-to blockchain for any existing projects. For this reason, more and more analysts advise to diversify your crypto holdings over Bitcoin, Ethereum and other altcoins.

CEO of NDAX Bilal Hammoud was one of the most bullish analysts on Finder’s panel. He is convinced ETH could reach $10,000 by the end of 2022, although the consensus remains for a value of around $7,600 by the end of the year. Bilal said:

Ethereum’s latest upgrade turned into a deflationary asset. Proof-of-stake will further lock up ETH for staking rewards, which in theory should influence the price to go up as supply decreases, while demand increases.

The long term prospects, mostly because of the development of Web 3.0, are far more spectacular. As the experts noted:

Ethereum is expected to hit $10,810 by 2025 before more than doubling to $26,338 by 2030, according to the average of the panel’s forecasts.