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Ethereum‘s price had surpassed $4,000 earlier this week but has since dropped by $500. Despite recent pullbacks in the crypto market, the general trend over the past few months has been quite bullish, leading to all-time highs for Bitcoin and multi-year peaks for Ethereum.
What’s Next for Ethereum?
In February, Bitcoin’s progress became a hot topic as it entered the top 10 financial assets by market value, surpassing Warren Buffett’s Berkshire Hathaway. A few weeks later, Bitcoin’s market cap exceeded $1.4 trillion, overtaking Meta and silver to become the 8th largest financial asset. However, recent declines have halted some of this progress, and Bitcoin is currently trailing behind silver.
All this happened when Bitcoin’s price reached an all-time high of $74,000. Although Ethereum has not broken its 2021 peak, it has recently been on the rise and briefly surpassed $4,000. However, the market pullbacks mentioned above have brought Ethereum’s price down to around $3,500 at present. Additionally, while Bitcoin is inherently inflationary due to its programmed structure, Ethereum could become a deflationary asset following the Denison update.
This means that even if Ethereum’s price rises, its market value, currently at $420 billion, could potentially decrease. Nevertheless, the current market value places Ethereum among the top 25 global financial assets, surpassing companies like Toyota, Samsung, and most recently Johnson and Johnson.
Striking Predictions for Ethereum
Bitcoin‘s price is predicted by analysts to exceed $100,000 during this cycle and potentially peak between $200,000 and $300,000. Although predictions rarely turn out as we hope, it is worth observing and analyzing how high Ethereum could potentially climb, according to some optimistic views.
Short-term Ethereum price predictions see the asset touching $5,000 in the coming months and potentially reaching $10,000. If the latter is achieved, considering the current supply, this would place Ethereum’s market value at approximately $1.2 trillion. This could mean that Ethereum is close to entering the top 10 financial assets by market value, if market caps remain the same.
