Yesterday was a pretty huge day for Ethereum (CCC:ETH-USD), even if it didn’t seem like it. The coin, which is the second largest in market share behind the omnipotent Bitcoin (CCC:BTC-USD), is seeing support from possibly the biggest influencer in crypto. And with Ethereum primed for a breakout on the heels of the crypto market’s recovery, just how high are Ethereum price predictions going?
After getting pulverized for the last month, the entire asset class has been extremely low. Bitcoin erased all of its 2021 gains for a brief moment, and Dogecoin (CCC:DOGE-USD) continued its plummet from its 73-cent high down to 16 cents. Ethereum is down over $2,300 from its all-time high, reached earlier in the year. The tides are changing, though, and the ‘B Word’ Conference has a lot to do with cryptocurrency’s recovery.
In particular, Ethereum holders can thank Elon Musk. The Tesla (NASDAQ:TSLA) CEO is typically an altcoin promoter, tweeting cryptically about Dogecoin, Shiba Inu (CCC:SHIB-USD) or even Baby Doge (CCC:BABYDOGE-USD). Yesterday, though, we saw Elon Musk open up about mainstream coins. The billionaire revealed his own personal staking in Ethereum through his conversation with Twitter (NYSE:TWTR) CEO Jack Dorsey.
Elon Owns ETH. What Does That Mean for Ethereum Price Predictions?
The conversation between Musk and Dorsey, where Elon waxed poetic about Ethereum and Bitcoin, preceded a healthy 10% boost for the ETH coin. The good times appear to be slowly but surely coming back; the boost is carrying over to today as well, with ETH moving an additional 1.5%.
Could Elon Musk’s ETH pump be just what the coin needed to break out of its bearish valley? Is ETH going to break out and head back toward its all-time highs soon? Let’s see what the Ethereum price predictions have to say:
- WalletInvestor is forecasting a bullish 12 months for Ethereum going forward. Their July 2022 prediction suggests a price of $3,943.
- The Economy Forecast Agency is predicting only paltry gains for the ETH coin through the end of 2021. By December, the outlet thinks Ethereum will climb to just $2,546.
- DigitalCoin predicts slightly more bullish gains, stamping Ethereum with a $2,830 forecast by the end of 2021.
- Coin Price Forecast is suggesting a price of $3,160 for Ethereum by the end of the year.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.