Should I buy Ethereum now?
Before making predictions for the future, let’s take a quick look at ETH’s price records over the past year. And consider the reasons why they happened.
- End of January. Ether was worth 1.46 thousand. The growth was provoked by a large amount of investment in the coin, which came from large investors.
- End of February. The price of the coin was 2.04 thousand. The jump was due to the launch of Ethereum futures trading on the Chicago Stock Exchange.
- End of April. The rate rose to the level of 2.65 thousand. The reason for the growth was the release of the Berlin update, which continued the gradual transition of the Ethereum blockchain to the PoS consensus.
- Mid May. The price of 1 ether cryptocurrency coin reached 4.32 thousand. The reasons are the increasing popularity of the decentralized financial market and the increasing interest of users in NFT.
- The beginning of November. The cost reached a historical maximum of 4.87 thousand per coin. This happened due to the mass burning of coins. It became possible after the release of the London hard fork, which changed the commission calculation scheme.
Cryptocurrency investing experts are divided on how much ETH will be worth during 2022. Now the emission of the coin exceeds its destruction. Studies show that within 12 months, about 4.3 million coins can be destroyed, and 5.4 million issued.
At the current inflation rate, the total number of coins in circulation will be 119.7 million pieces. However, after that, the PoS protocol will be fully introduced, the investment instrument will become deflationary.
What the experts say.
- Analysts of the NewsBTC Internet resource believe that after the transition to protocol version 2, the popularity of ether will grow and the price will reach $40,000 per coin.
- Experts from the Amsterdam Stock Exchange say that the price will be about 10 thousand dollars and it will rise to this mark in the near future.
- However, representatives of JPMorgan Chase believe that the real price of 1 coin may be at the level of 1 thousand dollars, no more.
Should I buy Ethereum? In general, the forecasts look optimistic, but each investor makes the final decision for himself