The more powerful Ethereum becomes and the more trust it has in this network, the theoretically the price of Ethereum will increase. On the other hand, when the Ethereum network operates poorly and fails to meet its roadmap goals, ether prices will decline. Of course, in the case of ether prices and all digital currencies, general market trends and foreign events are also involved (such as legislative news in this area).
The price of Ethereum is exactly what makes users eager to buy it. Because of the unique features mentioned, the price seems relatively reasonable. Ethereum, on the other hand, is much cheaper than Bitcoin. According to statistical information, the price of the Queen of Cryptocurrencies has gone through many ups and downs since its formation.
In 2014, the Ethereum Foundation’s fundraising program sold about 7 million units of ether at a price of approximately $ 0.3 per unit. At the time of this update (October 29), the price of each ether is about $ 330, which means that the initial investors of Ethereum will have more than 100,000% profit if they still have their assets.
What Makes Ethereum Unique?
Ethereum has pioneered the concept of a Blockchain smart contract platform. Smart contracts are computer programs that automatically take the necessary steps to reach an agreement between the parties on the Internet. They are designed to reduce the need for trusted intermediaries between contractors, thus reducing transaction costs while increasing transaction reliability.
ETH was the design of a platform that made it possible to execute smart contracts using the blockchain, further enhancing the benefits of smart contract technology. In addition to smart contracts, the Ethereum blockchain can host another cryptocurrency called a token using its ERC-20 compatibility standard. This has been its most common use for the ETH platform: to date, more than 280,000 ERC-20 compatible tokens have been launched. More than 40 of these currencies, with market capitalization, become the top 100 base cryptocurrencies, such as USDT, LINK, and BNB.
Factors of Ethereum value fluctuations
The first reason for the price fluctuation can be found in the rumors surrounding it. Almost immediately after every rumor about an issue, we see a change in its price, and Ethereum is no exception. In such cases, it is best not to do emotional trading, as it can lead to your loss.
The second reason for the price change could be the fluctuation of the Bitcoin price. It can be said that each time the price of Bitcoin fluctuates, Ethereum also fluctuates in price. Another reason that can affect the price of these cryptocurrencies is the movement of cryptocurrencies to buy or sell currency. In these cases, if a large amount of ETH is bought by these people, prices will increase and if sold, prices will decrease.
Another factor in changing the price of Ethereum is related news as well as ongoing projects. News, like rumors, has a direct impact on prices. On the other hand, the projects that Ethereum is looking to unveil and implement can have a very positive impact on its price.
For example, if Ethereum 2.0 is unveiled, we will see an increase in its price, to the point that perhaps the $ 350 price tag for ETH will become a memory and we will see its record break many times.
Ethereum price history in recent years
Ethereum performed very well in December 2017, breaking the $ 500 resistance, reaching $ 730 by mid-December, and reaching $ 900 by the end of the month. Ether started 2017 with $ 8 and reached its highest price in history at $ 1,400 by January 2018, a little over a year. In fact, until January 2018, the price trend of Ethereum (except at times) was very high. A cursory glance reveals that Ethereum has seen a price increase of about 17,000 percent this year.
ETH hit $ 1,000 in January 2018 but fell below $ 640 in the first week of February and then recovered. Ethereum, like other digital currencies, has seen many ups and downs, but since January 2018, it has not been able to reach the $ 1,000 mark. However, the highest price of Ethereum, about $ 1400, goes back to 2017. Despite the sharp rise in the price of Bitcoin, the price of Ethereum has also improved slightly. Ethereum prices have not fluctuated much in the last two years. But in just 15 days in July 2020, it grew 100 percent, from $ 200 to $ 400.
After reaching the peak price on January 13, 2018, everything changed for Ether. The digital currency lost more than 92% of its value in less than a year with a terrible fall in freedom, and for a long time was unable to reach the $ 300 level. Of course, in 2018 and 2019, the entire digital currency market crashed, but for Ethereum, which many thought would leave Bitcoin behind, it was more tangible.
The current state of the Ethereum market
Ethereum, abbreviated ETH, is a digital currency or form of the digital asset with a market value of about $ 214.5 billion, ranking second and accounting for 12.06% of the total market. ETH is currently trading at $ 1,865.30 and has a daily trading volume of $ 23.67 billion. Prices have risen 2.31% in the last 24 hours. The highest price of Ethereum on February 20, 2021, was equal to $ 2,036.28, which is currently 8.39% lower than then. The number of Ethereum units in circulation will be 114.99 million and the total number of units will be 114.99 million. Currently, the most active exchange in which Ethereum trades is the EtherFlyer exchange with a share of 7.46% of the daily trading volume.
Ethereum Price Prediction
In the case of Ethereum, the current uptrend seems to be continuing. Ethereum, the second-largest digital currency in terms of market value, has experienced a sharp rise in price in recent days. One of the key features of Ethereum Blockchain is its programmability, which makes it the most widely used digital currency in decentralized applications.
Ethereum Price Prediction 2021-2022
The price of Ethereum in 2021 started at $ 735.34. Today, Ethereum traded at $ 1213.79, so the price has risen 65% since the beginning of the year. ETH is projected to cost $ 3,843 by the end of 2021. By mid-2021, we expect to see $ 2,507 per Ethereum. In the first half of 2022, the price of Ethereum will increase to $ 3992. In the second half, the price increases by $ 1063 and closes the year with $ 5,055, which is + 316 به at the current price.
Ethereum Price Prediction 2023-2027
These five years will see a significant increase: the price of Ethereum will increase from $ 5,055 to $ 15,212, an increase of 201%. Ethereum starts 2023 with $ 5,055, then reaches $ 6,132 in the first six months of the year, and ends 2023 with $ 7,221. That’s 495% from today.
Ethereum Price Prediction 2028-2032
During this period, the price of Ethereum will increase from $ 15,212 to $ 26,194, which is + 72%. Ethereum starts at $ 15,212 from 2028, then reaches $ 16,293 in the first half of the year, and ends in 2028 at $ 17,378. As of today, it is approximately 1.332%.