The Ethereum (CCC:ETH-USD) network is looking at one of its largest network overhauls ever. The restructuring will see the network change proofing algorithms, see miners stripped of transaction fee income and hopefully stabilize gas fee costs. But, most crucially for investors is the question, “Will it keep Ethereum prices on an upward trend?” Many are hopeful that it will, and analysts have varying ideas for where ETH prices will be in a year’s time. These ideas reflect themselves in new Ethereum price predictions.
The London hard fork will see Ethereum turn the page to a new era. At block 12,965,000 on the Ethereum blockchain, the changes will come to the network. The primary focus of this hard fork is to transfer Ethereum’s proofing algorithm from proof-of-work to proof-of-stake. This change will bring down the energy use associated with mining the crypto.
More controversially, the fork will see miners lose out on transaction fee income. Where before, miners were rewarded for transactions with more ETH, that ETH will now be sent to the network to be burned. The result are some angry miners, but also a smaller circulating supply of coins, which can ultimately push the value of ETH up. This will also help to remove volatility in transaction fees on the network.
Ethereum Price Predictions: What Does the London Hard Fork Mean for ETH Values?
With this major structure shift coming for the network, things look good for Ethereum. But just how good can they get? Let’s take a look at some Ethereum price predictions and see what analysts think:
- WalletInvestor thinks this overhaul could be what Ethereum needs to reach its all-time high. By August of 2022, the outlet thinks ETH values could hit over $4,560.
- The Economy Forecast Agency thinks Ethereum could break $3,700 before the end of the year, representing a nearly 50% gain in four months. By next August, the outlet thinks ETH can reach over $8,000.
- Coin Price Forecast suggest a year’s end price of $3,400 for Ethereum.
- DigitalCoin’s prediction closely mirrors the same growth pattern, forecasting the coin to finish out 2021 with a price of $3,500.
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.