TL;DR
- ETH’s Recent Gains and Positive Outlook: Ethereum’s ETH has rebounded in 2023, reaching around $2,400, with some analysts forecasting a rise to $5,000 by 2025 due to a bullish trend.
- High Expectations and Upgrades: Experts predict ETH could reach up to $8,000 by 2026, bolstered by upcoming Ethereum upgrades, with short-term predictions around $3,400-$3,800.
- Some Bearish Perspectives: Despite optimism, some, like trader Peter Brandt, are skeptical about Ethereum’s long-term prospects, questioning its functionality and future as a listed asset.
Can Ethereum Be the Best Performer Next Year?
Throughout 2023, the native cryptocurrency of Ethereum – Ether (ETH) – managed to recover most of the losses incurred during the devastating 2022, reaching almost $2,400 (per CoinGecko’s data) a few days ago. However, that valuation is still at the foothills of the all-time high of over $4,800 registered in November 2021.
Some analysts believe the recent uptrend could continue next year, with ETH rising to a new peak in the following months. According to FieryTrading, the asset has been in a bullish mode for the past year and a half, suggesting a further surge in the near future:
“As seen on the chart, ETH has been trading inside a bullish triangle pattern for over 1.5 years. In my eyes, a break out from this pattern might result in big gains for ETH since it will burst through an area full of short-trade stop-losses, which will be forced to buy back their positions.”
The analyst predicted that Ether could jump to the coveted level of $5,000 by the end of 2024 or the beginning of 2025.
Nikolaos Panigirtzoglou – Managing Director at JPMorgan – also gave his two cents, highlighting Ethereum’s upcoming “Protodanksharding” (EIP-4844) upgrade. He claimed it could help the ecosystem thrive and push ETH’s price toward $8,000 by 2026, while Ethereum could outperform Bitcoin in 2024.
The popular X (Twitter) user Michaël van de Poppe is another person who forecasted success for ETH next year. In his view, the asset might correct to approximately $1,900 but remains poised to soar to $3,400-$3,800 by the first quarter of 2024.
One Bearish Outlook
It is worth noting that some prominent figures are not so bullish on Ethereum. One example is the renowned trader Peter Brandt, who maintained that the token is “not comparable to BTC as a store of value.”
He also spoke against the functionality of Ethereum and its gas prices, forecasting that it could “not even be a listed asset in 10 years.”
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