This hasn’t been a great week for cryptocurrency in general. In the Wormhole attack, $320 million was successfully heisted by hackers on Wednesday, Feb. 2. This included $251 million of Ethereum (CCC:ETH-USD) and $47 million of Solana (CCC:SOL-USD). Instances like this don’t help further public trust in digital currency or other types of assets. If recent market performances are any indication, though, the Wormhole hack isn’t holding back the affected cryptos. Both Ethereum and Solana are up more than 12% for the day with the latter pushing closer to 13%. With gains of more than 18% for the week, Ethereum looks primed to continue its current rally. It’s easy to see why Ethereum price predictions have been red-hot recently.
Even with the current crypto rally, Ethereum still faces a fair amount of criticism. InvestorPlace’s Faizan Farooque recently addressed the skepticism and why it is misguided. He touted the token’s popularity and bullish price movement, making it a solid investment for the current bear market. He added that the crypto’s utility surpasses that of Bitcoin (CCC:BTC-USD). It’s true that crypto investors are watching closely for bear market plays and that Ethereum’s utility makes it a tempting buy, despite its high price point. Do other experts foresee Ethereum prices continuing to rise throughout the year ahead?
Let’s take a closer look at what’s being said about the second-largest crypto.
Ethereum Price Predictions
- Art Invest has a highly bullish stance on Ethereum. The investment management firm of Cathie Wood predicts that before the end of the decade, ETH will have either met or surpassed a $20 trillion market capitalization. In this future, it sees each coin being priced individually at $170,000-$180,000. Put another way, it sees the price Ethereum exceeding Bitcoin’s highest price point by more than $100,000 at minimum.
- Wallet Investor also remains bullish in its Ethereum price predictions. The platform rates ETH as a profitable investment in both the long and short term. According to its model, $100 in Ethereum today would yield a rate of return of 459.14% within the next five years. That would raise today’s $100 investment to $559 on Feb. 4, 2027.
- Gov Capital is similarly bullish on Ethereum. Its current model predicts a price increase of roughly 73.69% within the year ahead. If that prediction holds true, the crypto’s price could have risen to as much $4,628.12 in 2023, at which point a $100 investment in Ethereum made today will be worth $173.69. The platform foresees prices potentially rising to as much as $7,707.69 by the end of the year, with a minimum price of $6,702.343.
- Digitalcoin doesn’t break from the trend of bullish Ethereum stances. It sees the crypto’s price rising to as much as $5,072.87 in 2023, almost a 2X gain from where it currently stands. The platform predicts that ETH prices will rise to $5,409.75 within two years and $6,315.16 within three. Although it predicts that Ethereum, like most cryptos, will decline in 2016, it predicts that its prices will continue climbing in 2027, hitting $8,471.54.
On the date of publication, Samuel O’Brient 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.