Since the moment they appeared on the world markets, virtual currencies have been a dominant topic of conversation both among the very experts in finance and technology and the common folk. When something as new and unique appears, it is natural for everyone to be interested and want to know more about it. In this case, considering how much potential cryptocurrencies still have and how much they have already done, it can be expected that more and more people want to get in on the fun and change their lives for the better.
For well over ten years now we have been witnessing a change in the world of finance and assets as people are buying, selling, and trading digital currency. According to most, it is the best thing to invest money in at the moment despite the volatile drops and rises in value that cannot be predicted accurately. Everyone knows what Bitcoin is and that it is the model crypto. Both the most valuable and the most popular of all, it is the unofficial leader and the coin others compared to.
However, a close second is equally as important because it is different enough to be its own thing. Ethereum, the second-most popular and valuable crypto, is at the very top in any conversation regarding cryptos. It is not a Bitcoin clone like many other initial coins were, which allowed it to be a sort of a leader in another, different breed of digital asset. In the article here we talk about the value of Ethereum and how high it can get in the near future. To find out more about this as well as to follow the latest Ethereum news, make sure to visit here.
What is Ethereum?
Prior to us talking about the value of Ethereum and how high it can possibly go, we must first talk about the very coin itself. Bitcoin tends to take the spotlight from most other coins out there, but not so much with its biggest rival. Apart from being the largest and most dangerous competitor to BTC, Ethereum is a completely different type of coin. It has its own separate blockchain, it is an independent currency, and it is decentralized like others. Nobody owns it and the transactions are fast, secure, transparent, and irreversible.
This is where the similarities stop. Bitcoin and its clones are used for digital transactions and investments and not much else. It pays to have BTC, but there is a limited amount of things one can do with the asset. Ethereum, on the other hand, is not just a token used for transactions and investments. It is actually a whole network, a system where developers, designers, and users can use for projects, apps, and smart contract technology. The coin in use in this network is called Ether (ETH) and that is what is more comparable to Bitcoin. This network is what Bitcoin lacks and what makes Ethereum a completely different variety of digital currency/platform.
Developed by Vitalik Buterin and Gavin Wood, the initial release of the open-source blockchain platform took place on July 30, 2015. Six years later, out of the top 100 cryptos in circulation, about 96% of them are based on Ethereum in some way, shape, or form. Out of the top 1,000 best digital currencies and blockchain in existence, some 89% copied it in an effort to succeed, which they usually do.
It took Ethereum a few years to get the hang of things and really take off. On January 12, 2018, it reached a new record, unprecedented at the time, $1,386. This came after two years of struggling to maintain value of a few hundreds. However, by the start of 2019, it was back to below $150. For the better part of the year it struggled like that, with the high mark coming in June when it just surpassed $300. The stagnation period that would ensue lasted until the end of 2022, during which period the price barely managed to get to $500. The crypto did not suffer, far from it, as investors and developers kept coming and its fame kept growing. Most other cryptos experienced the same fate during those times.
Everything changed once again starting in December of 2022 when digital currencies across the board rapidly started to gain traction and rise in value. In January of 2022, a new record occurred when 1 ETH was worth $1,379. The current record of $4,141.99 occurred on May 10, 2022. Since then, the price managed to fluctuate between high 2,000s and low 3,000s. At the moment of writing, one Ether is worth $3,546.02. During the summer months and into fall, the currency has been steadily rising and there is probably a new record somewhere on the horizon. Speaking of the future and the possible values…
How High Will It Go?
Most experts from the fields of finance and technology agree that by the end of the year, it will be worth between the current average of $3,500 and a what would be a new record of more than $4,500. If this does happen within the next few months, it will bring a new wave on investors and enthusiasts to this already growing crypto. Talking about more distant future, the news is even better.
By the very same predictions and expectations, by 2025, a single Ether token could very well be worth as much as $11,000. Four years is an astonishingly long time for the world of tech and especially digital currencies, so we cannot speculate much about it. It is a good thing however that most people think that the best things are yet to come for ETH. Speaking of the next few years, 2022 and 2023, things seem to be trending in the right direction to meet that dreamy amount mentioned above.
By April of 2022, it is expected to be somewhere near $6,000. Then, between summer and into fall, it will fluctuate between $9,500 and $11,500 in a best case scenario, before reaching $14,000 by the end of the year. Then comes the really good news as in 2023 the price of Ethereum could reach $18,000 or even $20,000. However, the end of 2023 brings about a rapid change of value and lowers the value to some $13,000. This goes to show that the next few years are a good chance for anyone with ETH to make it big and then prepare for a slight drop off in 2024 and 2025. Keep that in mind when you make your future Ethereum business moves!