THE price of Ethereum is on the rise again but where next for the second largest cryptocurrency after Bitcoin?
We reveal price predictions for 2021 – and whether Ethereum could reach $10,000.
The cryptocurrency, which was released in 2015, was founded by eight people, one of which is 27-year-old Vitalik Buterin.
As well as being used as a cryptocurrency, developers can also build applications and run smart contracts on Ethereum.
Keen investors should be aware that it's not a guaranteed way to make money and you can lose all the cash you put in.
In other words, don't invest more than you can afford to lose or into something you don't understand.
Cryptocurrencies are also especially volatile, and their values can crash at little to no notice.
There's scant regulation for crypto firms, so you'll likely be without protection if things go wrong.
What's the Ethereum price?
The price of Ethereum (ETH) is currently sitting at $4,081 – up by 7.81% over the past 24 hours, according to Coinbase.
It's down 2% since its all-time high of $4,169 on May 10, 2021.
However, it's up from $731 on January 1, meaning it has rocketed by nearly five-fold since the beginning of the year.
But there's no guarantee the price of Ethereum will rise this much again – or even that it will rise at all as cryptocurrencies are extremely volatile.
Before Ethereum started rising this year, its previous all-time high was on January in 2018, when it hit $1,290.
Ethereum price predictions for 2021
How the price of Ethereum will change in future is impossible to know for certain, but experts and investors have still made predictions.
According to a panel with 42 cryptocurrency experts on comparison site Finder, 27 of them expect Ethereum to be worth $4,596 by the end of 2021.
It could then soar above $10,000 later on to hit $17,810 by the end of 2025 and $71,763 by the end of 2030.
What is cryptocurrency?
CRYPTOCURRENCIES are a form of payment that can be exchanged for goods and services.
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- What is Cardano and will ADA reach $10?
- What is Litecoin and will it reach $500?
- Why is Bitcoin bad for the environment?
- Who is Bitcoin creator Satoshi Nakamoto and what's his net worth?
- Best crypto wallets to use for Bitcoin: From Coinbase to Exodus
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- What is Dogecoin and will DOGE reach $1?
- Will Polygon (MATIC) reach $10?
However, some experts are even more optimistic and Martin Fröhler, chief executive of trading platform Morpher, sees Ethereum topping $10,000 by this December.
Daniel Polotsky, founder of CoinFlip, a bitcoin ATM operator, added: "Ethereum's price largely follows Bitcoin's halving cycles, although that relationship may begin to decouple as time goes on, and as Ethereum continues to develop use cases that Bitcoin cannot achieve.
"Then, its price may grow at a faster rate than Bitcoin's."
Meanwhile, CoinPriceForecast expects Ethereum to hit $6,216 by the end of 2021 and $13,848 by the end of 2024.
And WalletInvestor has a one-year forecast of $6,394 and a five-year forecast of $16,504.
Make sure you take these predictions with a pinch of salt though, as they're nowhere near guaranteed.
The cryptocurrency market is affected by a number of factors, including regulatory crackdowns and comments by high-profile individuals.
In other words, Ethereum could also drop in value, meaning you'll lose money.
We explain whether Ethereum could overtake Bitcoin in future.
It comes after the values of Bitcoin and Ethereum fell in May after China announced a further crackdown on cryptocurrencies.
Plus check out, four things you need to know about Dogecoin.
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