Top Ethereum (ETH) Price Predictions 2024
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We explore ETH price predictions for 2023 and beyond and take a look back at predictions from 2022. Who was right and who missed the mark?
2022 was a tough year for Ethereum holders, with ETH starting the year at over $3,700 before briefly dipping under $1,000 later in the year. Poised for a comeback, ETH sits above $1,300 as of this writing.
What’s the future price of crypto’s second-largest asset?
We collected ETH price predictions from the few brave souls willing to put a number out there. Let’s see who was right and who missed the mark.
Top ETH Price Predictions For 2023 And Beyond
Longer-term Ethereum predictions range from a 50% loss in value, based on today’s price, to more than 100x.
1. KALEO: $3,000 In 2023
Widely followed Crypto-Twitter trader KALEO said in a tweet to over 550,000: “ETH breaking above $3,000 in early 2023 makes sense.”
With ETH trading well above $3,000 early in 2022, a return to those levels seems plausible.
2. BitBoy: $85,000 By 2025
In a tongue-in-cheek YouTube video, BitBoy (Ben Armstrong) told nearly 1.5 million subscribers that ETH would reach $85,000 in 2025 after first reaching $25,000 in 2021. The latter didn’t happen and the former remains to be seen. But we appreciated the candor in that Ben disclosed he had used a crystal ball to divine Ethereum’s future price trajectory.
3. Gareth Soloway: $650 In 2023
While not always 100% accurate on Bitcoin price predictions, trader and chart analyst Gareth Soloway has been pretty close, making his a voice to consider when it comes to ETH price predictions. In a YouTube interview, Gareth says we could expect ETH to drop to as low as $650 in 2023 as the market searches for a definitive bottom.
4. SquishChaos: $150,000 In 2023
In a pinned tweet, SquishChaos, as he’s known on Twitter and Substack, introduced his 77-page investor’s thesis penned in 2021 that explains how ETH could reach $150,000 in 2023. The premise revolves around Ethereum’s “triple halving”, which refers to a 90% reduction in issuance roughly equivalent to three Bitcoin halvings, a by-product of the Ethereum merge. Increased adoption and demand pitted against a deflationary supply lead to (much) higher prices for ETH, according to the widely discussed price theory.
Top ETH Price Predictions For 2022
Forecasting future prices is tricky business. Given the number of moving parts, it isn’t surprising that most don’t get it quite right. Here are some of the top predictions from 2022.
1. Raoul Pal: $20,000 This Cycle [Wrong]
At the higher end of 2022 predictions, we find Raoul Pal, who spoke to the possibility that ETH could reach $20,000 this cycle in a 2021 tweet. Clearly, we’re in a different cycle now, and ETH still hasn’t reached $20,000, but Raoul Pal remains bullish on ETH.
In a wide-ranging YouTube interview, Raoul Pal highlighted demographic challenges as one reason that central banks will return to lower interest rates and stimulus to offset the lost velocity of money in an aging population. These moves, in Pal’s expectation, will be good for crypto assets with a limited supply like Bitcoin and Ethereum.
Another reason for easing monetary policy revolves around asset values, according to Pal. Specifically, he discusses assets used as collateral. The logic follows a premise that if collateral values fall, we could see reduced lending, which in turn impacts growth in the “TradFi” (traditional finance) world. In a debt-based fiat world, the money supply has to grow or the house of cards falls. Taken a step further, if asset prices fall enough, it could create balance sheet implosions in TradFi similar to what the crypto community witnessed in 2022 with companies like Celsius, Genesis, and BlockFi.
Raoul Pal says ETH likely bottomed in June, which coincides with the time frame in which these companies realized significant financial impairments.
2. Mike McGlone: $5,000 [Wrong]
Citing price support at $2,000 for Ethereum exiting 2021, Bloomberg Intelligence analyst Mike McGlone saw ETH building on its strong base, ultimately breaching its $5,000 resistance as a probable outcome in 2022. However, the January 2022 analysis report also discussed potential headwinds, notably that the Federal Reserve may raise interest rates to stave off inflation, which could cause turbulence in risk asset markets, such as cryptocurrencies. While the report’s prediction missed the mark in terms of price targets, it was vindicated in its predictions regarding Fed tightening.
3. Konstantin Boyko-Romanovsky: $5,000 [Wrong]
Founder and CEO of Allnodes, Konstantin Boyko-Romanovsky, voiced his predictions of ETH reaching $5,000 in 2022 after the recent upgrade to ETH 2.0. Quotes attributed to Boyko-Romanovsky discuss the deflationary qualities of ETH’s upgrade. The network upgrade incorporates EIP-1559, a fee-based change, which can help stabilize the Ethereum supply as a portion of the gas fees from transactions will be burned rather than added to the circulating supply of ETH.
While the $5,000 target remained out of reach for 2022, loftier predictions such as this may yet prove accurate in the future.
4. Kavita Gupta $500 [Wrong]
In comments highlighted by Time, Kavita Gupta, head of Delta Fund and former head of Consensys, called for ETH prices as low as $500. A separate CNBC interview explored Kavita’s thoughts on “crypto winter”, which she described as a time to build. Although reaffirming her expectations for low three-figure ETH, she remains bullish on the longer-term prospects for the decentralized cryptocurrency space. Prices for Ethereum fell as low as the high 900s in 2022, safely above the $500 prediction.
5. Peter Schiff: $1,000 [Right]
It’s no secret that gold proponent Peter Schiff isn’t a fan of cryptocurrencies. In June, he called for the ETH price to drop to $1,000 in the fallout following the collapse of Terra Luna which then toppled crypto firms such as Three Arrows Capitol, Celsius Network, and others. In the short term, Peter Schiff called the price right as ETH briefly dipped below $1,000 a week later. However, Ethereum’s price bounced off those levels, reaching nearly $2,000, and now trades about 30% higher than Schiff’s call.
6. AltcoinGordon: $6,900 [Wrong]
Twitter-famous trader AltcoinGordon, shared his price predictions for 2022 with more than 400,000 followers, putting an optimistic $6,900 target on ETH by year-end 2022. Unfortunately, no technical analysis or thesis was included to accompany the prediction. ETH never reached the target, but followers had a fun time twittering about the possibility or impossibility of reaching that ambitious price.
To Sum It Up
In an asset class as volatile as cryptocurrencies, price predictions are difficult to get right. Some are closer than others, but even then, short-term predictions might hold up better compared to long-range projections. Part of the challenge in making accurate predictions is the confluence of external factors that can affect the price.
We don’t trade in a bubble, so events outside the crypto world can (and do) sway price movements. That won’t stop the community from making price predictions, though. We’ll be back next year with a new set of ETH predictions to discuss.
Frequently Asked Questions
A number of online sources attempt to predict the price of ETH in the future using AI or expert panels. Changelly, for example, predicts ETH will trade as low as $6,200 and as high as $10,400 in 2027.
Future prices for crypto assets are notoriously difficult to predict with accuracy. One future-price thesis in our price-prediction roundup puts ETH as high as $85,000 in 2025.
Cathie Wood of ARK Invest expects Ethereum to reach a $20 trillion total market value by 2030. At today’s supply of about 120 million ETH, a $20 trillion market cap would put ETH’s price at over $166,000.
Future prices depend on many factors, including competition and economic concerns, but Joshua Fernando, a derivates trader who once bought Ethereum at $45, thinks ETH could reach $5,000 in 2024.
Future price predictions for Ethereum range from under $1,000, a fall from today’s prices, to more than $150,000, greater than a 100x increase.
