Disclaimer: The opinions expressed by our authors are their own and do not reflect the views of U.Today. The financial and market information provided on U.Today is for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial professionals before making any investment decisions. We believe all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is the focus of speculation and analysis within the crypto community as people are curious to see where its price will go next following the launch of the ETF.
A recent report from the crypto ranking platform CoinGecko provides insight into fund managers’ assessments of the future price of Ethereum. The forecasts range up to 166,000 US dollars.
In its latest analysis, CoinGecko offers Ethereum predictions from eight forecast issuers, including major fund managers, who predict what price range ETH holders can expect in the short to medium term.
According to CoinGecko, all eight forecasters surveyed were optimistic about Ethereum, expecting a rise between nearly $4,400 and $166,000.
Related
However, most price forecasts are based on a longer time frame; only Bernstein, QCP Capital and Standard Chartered offer a time horizon within one year.
VanEck predicts ETH will rise to $22,000 by 2030 and $154,000 in a bullish scenario, while Ark Invest expects ETH to rise to $166,000 by 2032. Geoff Kendrick of Standard Chartered expects ETH to reach $8,000 by the end of 2024. QCP Capital and Bernstein predict ETH price targets of $6,000 and $6,600, respectively, in the second half of 2024.
Expectations for Ethereum ETFs remain
Trading in Ethereum exchange-traded funds (ETFs) began in the U.S. in late July, bringing the world’s second-largest cryptocurrency into a vehicle popular with many professional investors and advisors.
The main driver of Bitcoin’s rise to its current all-time high of $73,780 this year was the launch of exchange-traded funds (ETFs) in the US. This investment vehicle provided access to Bitcoin, but without the risks associated with self-custody.
Related
Despite the drop in cryptocurrency prices at the end of July, there are high expectations for Ethereum ETFs due to the successful launch of Bitcoin ETFs.
However, Ethereum’s short-term price action paints a different picture, with ETH’s price down 24.5% over the past 30 days. Over a year, Ethereum is lagging behind Bitcoin at 41.5%, while the latter is up 107.4%, according to CoinGecko data.
The prospect of Ethereum ETFs gave the cryptocurrency a boost, but its gains have since been erased, leaving it 5.9% behind Bitcoin, compared to Bitcoin’s 51.9% gain this year.
At the time of writing, ETH was down 0.6% over the past 24 hours to $2,600.
