Ethereum (CCC:ETH-USD) could use some coffee this morning after a brutal weekend. How brutal? Ethereum price predictions are flying today after ETH dropped more than 17% from Friday to Saturday. Its downturn comes as part of a crypto-wide selloff that continues to hurt a number of digital assets. Some suspect the turbulence is due to worsening omicron variant prospects. However, ETH is seemingly preparing for a refresh, nearing a break-even point this morning.
So what do you need to know?
The world’s most popular crypto, Bitcoin (CCC:BTC-USD), saw a similar drop off. BTC shed about 17% of its value from Friday to Saturday, before seeing a slight recovery in the latter half of the weekend. Bitcoin is also down to start the week, close to 2% lower. Meme coin staples Dogecoin (CCC:DOGE-USD) and Shiba Inu (CCC:SHIB-USD) couldn’t avoid the selloff either, losing 6% and 8% respectively.
The global crypto market capitalization reflected these changes, dropping 5% to $2.33 trillion.
Cryptos are notoriously volatile, so while this drop isn’t anything apocalyptic for most savvy crypto bulls, it’s worth seeing how the moves affect price targets going forward.
So, with ETH currently sitting at $4,133 per coin, where is Ethereum headed?
Ethereum Price Predictions: Is a Recovery on the Way?
- Gov.Capital is bullish on the crypto. With a one-year price target of $5,763, and a three-year target of $10,612, they don’t see the second most prominent crypto heading anywhere but the moon.
- Coin Quora believes that if Ethereum can maintain its general bullish trajectory, it can hit $6,500, or even $7,000, by the end of 2022. They see it growing similarly in 2023, to $9,500, and have set a lofty 2025 price target of $20,000.
- Wallet Investor believes Ethereum may not have seen the end of its stumbles in the near term, but that ETH is still prime for long-term growth. They believe it’ll drop further to $3,814 within two weeks, but set a very bullish one-year price target of $7,143 and a very five-year forecast $19,153.
On the date of publication, Shrey Dua 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.