Cryptocurrency experts have lowered their predictions for Ethereum (ETH), over the next few years, according to a new survey from Finder.
The survey asked 31 industry specialists for their ether price forecasts for the end of 2023, 2025 and 2030. The average predictions were down compared to a previous Finder survey conducted in July 2022.
The panel predicted Ether will be worth $1,840 on average by the end of 2023, down from a prediction of $2,451 in July. The 2025 forecast fell to $5,824 from $5,845 previously, and the 2030 prediction declined to $14,411 versus $16,414 in the earlier survey.
Finder calculates the average forecasts by removing the top and bottom 10% of responses and taking the mean of the rest, a technique known as the truncated mean. This is designed to eliminate outliers and arrive at a more consistent consensus.
While still bullish long term, some panelists cited near-term economic challenges and competition from other blockchains as reasons for tempered short-term expectations.
ETH has a huge growth potential. […] Growth is [currently] limited by high rates in TradFi. In [the] case of reaching a soft landing by US authorities, ETH[‘s] price will increase dramatically, but not until the middle of next year.
Ruslan Lienkha, chief of markets at YouHodler
Others pointed to historical price patterns around Bitcoin (BTC) halvings. “Historically, as we approach a Bitcoin halving, Ethereum tends to revisit its price valuations from earlier that year,” explained Pav Hundal of cryptocurrency exchange Swyftx.
The panel predicted ETH could climb as high as $2,800 but also slump to $1,200 or below by year-end 2023. Nearly half see it finishing the year between $1,751 and $2,000.
Most experts said now is a good time to hold or buy Ether, though around 17% believe it is currently overvalued. Asked if and when ETH’s total market value could surpass Bitcoin’s, 43% of panelists said they don’t expect that to ever happen. But around 20% think the ‘flippening’ — with Ethereum’s market cap overtaking Bitcoin’s — could occur by 2030.