🚨 Get Your Free NFT Certificate Mint by Completing the Web3 Exam! START NOW
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

New
Video Courses
Video Courses
Deprecated
Scale your career with online video courses. Dive into your learning adventure!
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

New
Video Courses
Video Courses
Deprecated
Scale your career with online video courses. Dive into your learning adventure!
Ethereum Price Prediction: 2024 

Hey there, welcome to our Ethereum Price Prediction 2023 guide!

Are you currently holding some Ethereum coins and want to know what the future holds for the project? Or maybe you’re wondering how high will Ethereum go in 2023? Either way, I’ve got all of your questions covered!

Interesting fact: did you know that if you bought $10 worth of Ethereum coins at the beginning of 2016, they would have been worth over $10,000 at the end of 2017!?

In this Ethereum price prediction guide, I am going to start by briefly explaining what the Ethereum project actually is, provide you with a quick overview of what you need to consider before acting on a price prediction.

Following that, I'll discuss some popular price predictions that have been made by different analysts. Then I will give you my opinion on whether I think it’s a good investment or not.

Note: If you want to keep your cryptocurrencies secure, you should choose reliable wallets. Some of the recommended options include Ledger Nano X, Trezor Model T and Binance

So, what are you waiting for? Let’s start by finding out what Ethereum actually is!

What are Stablecoins, Altcoins & Wrapped Coins Explained!

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What are Stablecoins, Altcoins & Wrapped Coins Explained!

What are Stablecoins, Altcoins & Wrapped Coins Explained! What are Stablecoins, Altcoins & Wrapped Coins Explained!

What is Ethereum?

Ethereum was founded in 2015 by a Russian-Canadian developer called Vitalik Buterin. It is a blockchain protocol that allows people from all over the world to send and receive funds without needing a third party. 

Latest Deal Active Right Now:

However, unlike Bitcoin, Ethereum can do so much more than perform financial transactions.  It became the first-ever blockchain project to host something called smart contract technology. A smart contract is a piece of code that allows people to enter into an agreement without the need for an intermediary. 

Ethereum Price Prediction 2023 

Once certain conditions happen, the smart contract is able to automatically move funds from one person to another. Just like smart contracts, every single transaction that ever occurs in the Ethereum system is available to view on the public blockchain, making the network transparent.

In terms of performance, Ethereum is able to confirm a movement of funds in about 16 seconds. The blockchain is able to scale a maximum of 15 transactions each second, which is much less than other smart contract protocols, however, I will discuss later what they are planning to do to increase this.

So, now that you know what Ethereum actually is, in the next part of my Ethereum price prediction 2023 guide, I am going to discuss the importance of taking price prediction guides with caution

Warning About Price Predictions

I thought it would be a good idea to quickly talk about some of the things you should consider when reading somebody else’s price prediction. In reality, no one can predict the Ethereum future. While some people get predictions right, there are others who get them wrong.

No prediction can be ever guaranteed to come true because if it was, we would all be very rich and wealthy! It is important to make sure you always do your own independent research and never invest just because you like the sound of a price prediction.

Ethereum Price Prediction 2023 

The cryptocurrency market is one of the most volatile industries in the world, with prices often going up and down without any clear reason why.  However, when I analyze price predictions, I think the most important things to consider are real-world events

This includes things like regulations, future developments, improved technology, and partnerships. On the other hand, other people prefer to use chart analysis to predict the future, so it’s up to you which method you prefer to trust. 

So, now that you know the things to consider when reading predictions, the next part of my Ethereum price prediction 2023 guide is going to discuss some popular price predictions.

Ethereum Price Prediction 2023

Bobby Ullery

The first prediction I wanted to talk to you about was released by an online analyst called Bobby Ullery. The model that Ullery uses is based on the global economy and the assumption that blockchain technology will play a much bigger role in international trade.

According to the analyst, Bitcoin and Ethereum will each hold 25% of the entire cryptocurrency industry, which he predicts will have a total market capitalization of $4.5 trillion in 2023

Market capitalization is used to calculate the total value of a cryptocurrency, much in the same way as real-world companies are valued. It is achieved by multiplying the current market price of a coin by the total amount of coins in circulation. 

For example, if the value of the coin was worth $20 and there were 10 million coins in circulation, then the total market capitalization would be $200 million

Ethereum Price Prediction 2023 

Now, in the case of Ethereum, although there is no fixed supply, Ullery uses a total coin circulation of 100 million as this is what Vitalik Buterin has suggested will happen. 

So, considering all of the above, this particular Ethereum price prediction 2023 believes that Ethereum will be worth $11,375. This would give Ethereum a total market capitalization of over $1 trillion! So, is this possible?

For Ullery’s Ethereum price prediction 2023 to come true, it would need to increase its all-time high of just over $1300, by 775%. This actually isn’t an unrealistic prediction when you consider that Ethereum increased its price by 10,000% in 2017! But what do you think?

LongForecast

The next Ethereum price prediction 2023 I wanted to discuss was by a prediction service called LongForecast. This particular analyst is also quite positive about the future price of Ethereum. 

LongForecast estimates that in December 2023, the price of Ethereum will be $3264.

These figures are well above the all-time high that Ethereum experienced in late 2017, so the analyst is confident in its future. However, the biggest problem with this prediction service is that they do not give any explanation as to how they made the forecast.

This is really important information, but it seems to have been left out. In my opinion, for a price prediction to be valid, there needs to be a reason for the prediction that has been stated. This is why you should be wary of the predictions you find online. 

CoinKir

Moving on, the next Ethereum price prediction I found was by CoinKir. It was made for 2020 CoinKir used technical price analysis to make predictions for the future. This is when you look at historical price movements and look for trends that could happen again in the future.

Ethereum Price Prediction 2023

This is a popular strategy used in real-world financial markets. However, financial markets often have over 50 years of data to look at, which the cryptocurrency markets don’t. Nevertheless, according to CoinKir, the price of Ethereum was supposed to reach $1455 by December. To tell you the truth, this was very close to the truth as in January 2023 Ethereum is worth slightly more than $1400

So, now that you know about some of the most popular predictions for the future of ETH, the next part of my Ethereum price prediction 2023 guide is going to look at some of the real-world events that could affect its price!

Ethereum Real-World Events

You might remember how I discussed earlier that the Ethereum blockchain is only able to process about 15 transactions per second. This is actually a huge problem for the project as it needs to increase significantly to handle global demand.

For example, in late 2017, a new decentralization application (dApp) called CryptoKitties was processing so many transactions that it almost brought the network down! This was just one dApp, so think about how bad it would be if other dApps become more and more popular?

Ethereum Price Prediction 2023 

As a result, there are now other smart contract blockchains that perform much better than Ethereum. For example, NEO can process transactions in the thousands per second and there are other blockchains being built that claim to be able to handle millions per second!

Ethereum team recognized these challenges and has a few ideas that they are working on, with each of them holding the potential answer to “Why is Ethereum going up?” in the future. 

So, let’s start with proof-of-stake!

What is a Cryptocurrency: For Beginners (Animated Explainer)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is a Cryptocurrency: For Beginners (Animated Explainer)

What is a Cryptocurrency: For Beginners (Animated Explainer) What is a Cryptocurrency: For Beginners (Animated Explainer)

Proof-of-stake

Every blockchain platform has its own “consensus mechanism” that determines how transactions are verified on the network. Ethereum uses the same model as Bitcoin, which is called “proof-of-work”.

The proof-of-work mechanism creates really complex puzzles that no human can solve, so they require powerful computers instead. Providing that you have the right equipment, you can connect your device to the system to help solve the puzzle. If you are successful, you earn the cryptocurrency as a reward. This is called mining

The problem is that Proof-of-work requires a very large amount of electricity. What is more, since the puzzle becomes more and more difficult as more users start to mine the cryptocurrency, you need really expensive hardware to have a chance at winning the reward.

This is why Ethereum wants to switch its consensus mechanism over to proof-of-stake. The model works in a different way to proof-of-work as it makes it fairer for other people to get involved in the mining process, and it also requires far less electricity. 

Using Proof-of-Stake, your chances of winning the mining reward are based on the amount you havestaked”, which means the number of coins you have invested in the system. The theory is that the more coins you have, the more motivation you will have to ensure the blockchain remains safe and secure.

So, that’s Proof-of-Stake. The next part of this Ethereum price prediction guide will be focused on how they plan on improving the number of transactions the network can process at any given time. 

Sharding

Sharding is a protocol that the developers are working on to change the way that transactions are verified. Under the current model, every single “node” that is supporting the blockchain needs to confirm every transaction that has been submitted.

Ethereum Price Prediction 2023 

Note: A node is used to describe a device that has been connected to the blockchain to help verify transactions. The more nodes there are, the more secure the network is. At the time of writing in June 2018, Ethereum has more than 16,000 individual nodes! UPDATE 2023: There are about 8,000 active ETH nodes. 

Anyway, as an example, let’s imagine that 100 transactions have been sent within the Ethereum system. This means that they must all be verified by the blockchain before they are confirmed. This would mean that all 8,000 nodes would need to verify all 100 transactions individually, which isn’t very efficient.

Sharding does things differently, though. It puts nodes into groups. Each group of nodes is called a “shard”, with different groups working on different parts of a transaction. Ultimately, it creates a more efficient way to confirm transactions and allow the network to increase the amount it can process every second.

Binance Review
Pros
  • A very well-known crypto exchange platform
  • More than 350 different cryptos available
  • Two-factor authentication
Main Features
  • Over than 100 different cryptocurrencies available
  • Strong security
  • Small withdrawal fees
Bybit Review
Pros
  • Very low trading fees
  • Exceptional functionality
  • Mobile trading app
Main Features
  • Very competitive trading fees
  • An intuitive mobile app
  • Up to 100x leverage available
Kraken Review
Pros
  • Secure and reliable
  • Low fees
  • A good amount of fiat currencies accepted
Main Features
  • Reputable exchange
  • Multiple fiat currencies are accepted
  • Relatively low trading fees

Plasma

The plasma protocol is concerned with unnecessary data and wants to remove it from the main blockchain to free up space. For example, when somebody creates a new smart contract, it is automatically posted to the main Ethereum blockchain. Even though the smart contract might not be completed for a long time (or possibly never at all), it is still sent to the blockchain.

This has caused a lot of problems because nodes still need to verify the transactions, meaning that it slows down the network. The plasma solution is planning on creating an additional layer on top of the main blockchain, which will be used for incomplete smart contracts.

Once the smart contract is in operation, it can then be sent to the main blockchain. Vitalik Buterin has stated that he is looking to install both plasma and sharding, which means that if successful, the Ethereum blockchain could soon be processing thousands, potentially millions of transactions per second!

If this is the case, there is a very good chance that this will be the reason why Ethereum is going up in the near future. Many analysts believe these problems are holding the project back from growing, however, once the changes are implemented, who knows how high Ethereum can go

However, it is crucial to remember that all three of the above-listed solutions are still in their very early days of development, so there is no knowing when they will be truly ready. The best thing to do is to check for updates online regularly.

So, now that you know about the technical improvements the team is working on and how it could affect its price, the next part of this Ethereum price prediction 2023 guide is going to look at what I think might happen…

How High Will Ethereum Go in My Opinion

Before I discuss my opinion for the Ethereum future, I wanted to make it clear that I am not giving you an investment or financial advice. At the end of the day nobody knows the answer to the question “How high can Ethereum go?” 

Firstly, Ethereum is the first and original smart contract blockchain project, which is why it has been the second most popular cryptocurrency for so long. People not only trust the platform, but they know that the team is really talented as well. Therefore, I think that Ethereum will always be the number one smart contract platform.

However, there are no guarantees as developers really need to sort out Ethereum’s scalability problems. It’s great that they are working on lots of different ideas, but if they take too long or it’s not successful, then other blockchains could take over. 

Ethereum price prediction: ETH coin.

Even though the cryptocurrency markets are still in their early days and there are no guarantees what is going to happen, I believe that Ethereum can do it. People are concerned about future regulations, however, in my opinion, this will be a good thing.

For example, Japan completely regulates the cryptocurrency industry in the same way that they regulate their financial services sector. This has resulted in Japan having one of the largest trading volumes for cryptocurrency, as well as having over 200,000 different real-world stores that accept it.

Ethereum Price Prediction 2023: Conclusion

So, that’s the end of my Ethereum price prediction 2023 guide! If you have read it from start to finish, you should now be aware about the project and the company's plans. 

There are multiple Ethereum price predictions, and while some of them seem to be very unrealistic, others are rather negative. What's important to remember that no one knows for sure what the future will bring for Ethereum. So, before investing, you should always perform an additional research. 

Now, if you already purchased some ETH coins on Binance, Coinbase, or KuCoin, you should also remember to keep your cryptocurrencies in secure wallets at all times. 

If you're not sure which wallet to choose, here are top 3 options that you should take into consideration: 

About Article's Experts & Analysts

By Aaron S.

Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era. W...
Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Latest Crypto Videos & News


TOP3 Most Popular Coupon Codes

Verified

CLAIM $600 REWARD

Exclusive Binance Referral Code
Rating 5.0
Verified

UP TO $30,000 BONUS

Get Bybit Referral Code Reward
Rating 5.0
Verified

CLAIM 10% DISCOUNT

On Ledger Nano S Plus 3-Pack
Rating 5.0

Leave your honest feedback

Leave your genuine opinion & help thousands of people to choose the best crypto exchange. All feedback, either positive or negative, are accepted as long as they’re honest. We do not publish biased feedback or spam. So if you want to share your experience, opinion or give advice - the scene is yours!

FAQ

Where to buy ETH?

One of the most popular and secure ways to purchase Ethereum is on Binance. It's a crypto exchange platform that supports multiple coins and tokens. If you want to buy ETH quickly, you can also do that via Simplex - a secure payment processing.

What is the best ETH wallet?

There are many different types of ETH wallets available, however, it's recommended to choose hardware wallets as they're the most secure. The most reliable cold wallets are Ledger Nano X and Trezor Model T.

How to pick the best crypto exchange for yourself?

Picking out the best crypto exchange for yourself, you should always focus on maintaining a balance between the essential features that all top crypto exchanges should have, and those that are important to you, personally. For example, all of the best exchanges should possess top-tier security features, but if you're looking to trade only the main cryptocurrencies, you probably don't really care too much about the variety of coins available on the exchange. It's all a case-by-case scenario!

Which cryptocurrency exchange is best for beginners?

Reading through various best crypto exchange reviews online, you're bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn't encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market.

What is the difference between a crypto exchange and a brokerage?

In layman's terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman - it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” - you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term - exchange. This is done for the sake of simplicity.

Are all the top cryptocurrency exchanges based in the United States?

No, definitely not! While some of the top cryptocurrency exchanges are, indeed, based in the United States (i.e. KuCoin or Kraken), there are other very well-known industry leaders that are located all over the world. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. While there are many reasons for why an exchange would prefer to be based in one location over another, most of them boil down to business intricacies, and usually have no effect on the user of the platform.

binance
×
Verified

$600 WELCOME BONUS

Earn Huge Exclusive Binance Learners Rewards
Rating