Surprising Ethereum Price Prediction: $18,000 on the Horizon?

What do experts think about ethereum's potential to hit $18,000 soon? We analyze the latest market predictions and trends.

August 5 marked what many are calling cryptocurrency Black Monday, a day of intense market turmoil that saw ethereum (eth) and other crypto assets experience dramatic price drops.

Amid a widespread sell-off across global financial markets, the price of eth fell to a low of $2,100, a steep 22% drop, representing its biggest one-day drop since May 2021.

Moreover, the price of eth has declined further as the bears have pushed it down by 3% over the past 24 hours, taking it to levels around $2,430 as of August 8.

Meanwhile, the broader picture also remains bleak, with eth still down 24% over the past 7 days even with the modest recovery.

Adding to the intrigue, market activity around ethereum-related financial products showed mixed results. eth-etf” target=”_blank” rel=””>signsOn August 6, eth spot ETFs saw their second-largest inflow in a day, with over $98 million. In contrast, on August 7, there was a net outflow of around $24 million.

To better understand what is happening with eth, let’s dive into expert opinions and factors to evaluate the ethereum price prediction amid the current volatility.

What do the experts think?

Amid the recent turmoil in the cryptocurrency market, experts have provided insights that shed light on ethereum’s performance and future prospects.

On August 6, Michaël van de Poppe highlighted two key developments for ethereum. First, he noted that eth has become deflationary, with its supply decreasing at an annual rate of 0.812%. eth becoming deflationary means that more eth is being burned than created, a positive sign for its value.

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Secondly, he noted that on-chain activity was robust, particularly with decentralized finance (DeFi) platform AAVE generating substantial revenue through trading, indicating that DeFi, a key use case for ethereum, is regaining traction and could drive further growth for eth.

On August 7, van de Poppe also noted that while $160 million worth of eth was created in 2024, the net inflow into eth ETFs over the past two days was $150 million, suggesting demand is quickly catching up with and potentially outstripping new supply.

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Van de Poppe believes that if this influx continues, ethereum could become severely undervalued and on track for a substantial price increase.

Another crucial aspect of ethereum’s recent performance revolves around its technical updates, in particular ethereum Improvement Proposal (EIP) 4844, implemented on March 13.

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This upgrade, often compared to a “bandwidth moment” for ethereum, dramatically increased the scalability of layer 2 solutions while simultaneously reducing fees for users.

EIP 4844 introduced a new way of handling data by adding “blobs,” which effectively means greater data availability and more block space on the network.

The impact of EIP 4844 has been multifaceted. On the one hand, it has led to a marked drop in fees, as ethereum fees decreased by $679 million (57%) in Q2, which may seem negative at first glance but is essential to understanding the broader context.

The increase in block space has improved the user experience (UX) and scalability of the network, which is crucial for long-term growth.

Despite lower fees, network usage metrics have been impressive. Transactions on L2 solutions increased by 63% and active users on L2 grew by 81% in Q2, reflecting ethereum’s growing network effects and demand for eth.

As new use cases and demand emerge, driven by improved scalability, enhanced user experience, and reduced supply, ethereum’s economic outlook could likely improve, possibly having a positive effect on the ethereum price prediction.

<h2 class="wp-block-heading" id="ethereum-price-prediction”>ethereum Price Prediction

Looking ahead, many experts have shared their predictions about ethereum for the coming years. Let's analyze them year by year.

ethereum Price Prediction for 2024

By 2024, ethereum” target=”_blank” rel=””>Price of digital currency predicts that the price of ethereum could range between a low of $2,184.14 and a high of $5,289.03, with an average price of $5,085.90.

crypto/ethereum/price-prediction/” target=”_blank” rel=””>Coin code is a bit more optimistic and predicts that by September 7, 2024, the price of ethereum could increase by 7.03% to around $2,554.44.

These forecasts suggest some growth, but market sentiment remains cautious.

ethereum Price Prediction for 2025

In 2025, Digitalcoinprice expects eth to experience further growth, predicting prices between $5,231.85 and $6,303.69, with an average price of $6,194.84.

Coincodex also sees potential growth, estimating that eth could fluctuate between $2,386.71 and $6,482.53.

Despite the variation, both sources agree on an upward trend.

ethereum Price Prediction for 2030

Looking ahead to 2030, predictions become even more optimistic.

Digitalcoinprice predicts that ethereum could reach between $16,412.24 and $18,005.63, with an average price of $17,115.05.

Coincodex, although more conservative, still predicts a substantial increase, with prices ranging between $5,488.20 and $11,821.

These long-term forecasts reflect growing confidence in the future of ethereum and its potential to reach huge values.

When considering these eth price predictions, it is crucial to remember that these forecasts can and often do fail. The cryptocurrency market is highly volatile and many factors can influence prices. Therefore, it is crucial to conduct your own research and never invest more than you can afford to lose.