Ethereum is predicted to record growth to $ 166,000

The digital token Ethereum, the second largest cryptocurrency by capitalization, is attracting analysts' attention after the launch of an ETF. The CoinGecko platform has published forecasts from eight financial institutions on the future price of ETH.

All the experts surveyed are optimistic about Ethereum’s prospects. Forecasts range from $ 4400 to $ 166,000 per token. Most forecasts are based on a long-term perspective. VanEck expects ETH to grow to $ 22,000 by 2030 and $ 154,000 in an optimistic scenario. Ark Invest predicts a price of $ 166,000 by 2032.

Some analysts give short-term forecasts. Geoff Kendrick from Standard Chartered expects ETH to reach $ 8000 by the end of 2024. QCP Capital and Bernstein predict a price of $ 6000-$ 6600 in the second half of 2024.

The launch of Ethereum ETFs in the United States in late July opened access to this cryptocurrency for professional investors. Analysts compare the situation to the successful launch of the Bitcoin ETF, which contributed to the rise in the price of BTC to a record $ 73,780.

However, the short-term dynamics of Ethereum is still different from expectations. Over the past 30 days, the ETH price has fallen by 24.5%. For the year, Ethereum lags behind Bitcoin, showing growth of only 41.5% against BTC’s 107.4%.
The launch of the ETF initially pushed the price of Ethereum up, but these gains quickly disappeared.

However, investors should take into account the high volatility of the market and possible risks. The further dynamics of ETH will depend on the overall development of the crypto market and the success of the introduction of ETFs on Ethereum.