Cathie Wood expects Ethereum to skyrocket far beyond $5,000 per coin -- but how long will it take?
Once upon a time, what historians call November 2021, Ethereum (ETH -0.06%) was worth more than $4,890 per digital coin. Then a bitter crypto winter set in, driving Ethereum prices all the way down to $896 last summer.
Today, the roller-coaster ride stands at the $1,633 station. Can the largest and oldest blockchain platform for smart contracts reach new all-time highs of $5,000 or more in 2023?
The short answer is, "maybe." The most honest answer I can give you is, "probably not; ask again next year."
To see the long answer, and my recommendations for Ethereum investors, keep reading.
The final destination
I expect cryptocurrencies and smart contracts to disrupt economic systems around the world. The next generation of banking, money transfers, insurance, and asset management will look radically different. Go-betweens are dropping out of the equation, transactions will be faster and more automated, fees are going lower, and I'm just scratching the surface of what a decentralized financial system will look like.
Ethereum is one of the oldest and most respected cryptocurrencies on the market, with a larger group of app developers and projects than its younger rivals. It is also under active development, as seen in last summer's Merge and an ambitious long-term road map. So as the crypto market evolves, Ethereum should stay in the vanguard.
Given this potentially spectacular future, Ethereum should gain a lot of value over time. And $5,000 should be an early stop on a long ride up. Growth investing superstar Cathie Wood of Ark Invest fame expected Ethereum to reach "triple-digit" prices before 2030. That prediction may sound outdated since she published it nearly one year ago, but Wood has also doubled down on her long-term faith in Ethereum more recently.
Speed bumps in the road ahead
However, those promising targets are pointing a few years into the future. Ethereum looks like a robust long-term investment, but I can't guarantee that it will make you a fortune in 2023.
Decentralized finance is in its infancy, with as many stumbles as success stories. The Ethereum 2.0 development is incomplete after The Merge, leaving many crucial technology improvements for future platform upgrades. In addition, investors and consumers need time to rebuild their general trust in cryptocurrencies after multiple cash-burning scandals in 2022. And we are still waiting for sectorwide catalysts such as a firm regulatory system for crypto trading and ownership or large-scale involvement by banks and institutional investors.
The $5,000 price target is more than triple Ethereum's current price. Meeting it this year is a tall order, requiring many uncertain events to work out in Ethereum's favor -- and quickly.
So Ethereum may very well double in price this year, and maybe even triple. Crypto winters melting into a new spring can have that effect. At the same time, the gains can also take years to develop and Ethereum's price might dip again along the way.
How to invest in Ethereum this year
In other words, it's not a good idea to bet the literal farm on Ethereum right now. Building your holdings more patiently makes far more sense, allowing you to take advantage of the current price dip, as well as the potential potholes of the future.
Investing in Ethereum and other cryptocurrencies is really not different from buying stocks. Get-rich-quick schemes rarely work out in your favor, while patiently building your portfolio for the long haul is the real secret to lasting wealth.
Therefore, I recommend picking up some Ethereum coins (or fractions of coins) in several buys across 2023. If it reaches that tantalizing $5,000 level, you'll celebrate getting in early enough to triple some of your first investments. And if the price chart dips again, your celebration will be just as heartfelt when Ethereum zooms past $5,000 to Cathie Wood's triple-digit targets in a few years.
It's just a matter of time and patience. Life in Wall Street's fast lane can be slow sometimes.
Anders Bylund has positions in Ethereum. The Motley Fool has positions in and recommends Ethereum. The Motley Fool has a disclosure policy.
FAQs
Can the largest and oldest blockchain platform for smart contracts reach new all-time highs of $5,000 or more in 2023? The short answer is, "maybe." The most honest answer I can give you is, "probably not; ask again next year."
How high can Ethereum go in 2023? ›
But ETH made it back above $1,500 by January 2023. It continued gaining ground throughout the year, finishing 2023 in the $2,200 range. The crypto rally picked up in early 2024 following the launch of the first spot bitcoin ETFs. The SEC approval sent ethereum's price above $4,000 for the first time over two years.
Will Ethereum hit $5000? ›
Up more than 50% through the first half of 2024, Ethereum (CRYPTO: ETH) now appears to be on track to regain its all-time high of $4,891 from the previous crypto bull market rally.
What is the Motley Fool's prediction for Ethereum? ›
Although there are a lot of naysayers out there, convinced that Ethereum still has further to fall before reaching market equilibrium, my prediction is that the next big move for this crypto will be a return to the $4,000 level.
Will Ethereum reach $3,000 again? ›
ETH Price Predictions: In September 2024, Ethereum is expected to face resistance around $3,000, with potential to rise between $3,200 and $3,700 if this level is surpassed. The price is anticipated to show bullish momentum as the market stabilizes and technical indicators improve.
Can Ethereum reach 50k? ›
Can Ethereum reach 50K? The short answer is, Yes. Ethereum is the leader of Decentralized Finance (DeFi). As more protocols attach to its platform soon, which has a great user base reflected in massive trade volume numbers, the crypto asset price will increase tremendously in the process.
How much will 1 Ethereum be worth in 2023? ›
What will Ethereum be worth in 2023? Ethereum is expected to trade between $2000 – $2500 mark in 2023.
How high can Ethereum realistically go? ›
ETH Price Prediction 2030
The highest price point that Ethereum (ETH) can reach on or before 2030 is the area $10,000 to $12,000. An absolute market top might be set when this happens. Arguably, it will happen in the period 2027-2029. ETH may briefly touch a price point in or above this range.
Will ETH hit $4,500? ›
According to Cryptonewz, by the end of 2024, ETH will touch $5,000. By 2025, Ethereum is expected to reach a maximum level of $6,500, with a minimum of $4,500 and an average of $5,500. By 2030, it is expected that it may reach a maximum of $20,500.
Can ETH reach $7,000? ›
Ether (ETH) price predictions for 2024, 2025 and 2030
The panellists also predict ETH will hit $7,359 by 2025 and $23,549 by 2030. Both predictions are slightly more bearish than our panelists' average predictions from our April 2024 survey, when they projected ETH to reach $7,996 by 2024 and $29,380 by 2030.
Ethereum (ETH) Price Prediction Table
| Year | Average Price* | Percent Increase |
|---|
| 2024 | $2,703.03 | -% |
| 2025 | $4,130.87 | 100.00% |
| 2026 | $5,298.45 | 25.00% |
| 2027 | $6,984.88 | 20.00% |
8 more rowsOur most recent Ethereum price forecast indicates that its value will increase by 3.96% and reach $2,372.08 by September 11, 2024.
What coin will be the next Ethereum? ›
Which is the next Ethereum? Some crypto analysts believe that Cardano, Solana, and Avalanche each make a great case as the next Ethereum. However, these smart contract platforms already have a multi-billion dollar market cap. As such, the newly founded project, Wall Street Memes, could be a better alternative.
Can Ethereum reach $100,000? ›
While Ethereum can hit $100,000 after 2030, it is not realistic to expect ETH to reach 100k before 2030. It's nearly impossible. There is no path for Ethereum to hit 100k before 2030, it's impossible. ETH can realistically hit $10,000 in the coming years, either in 2025 or in 2026.
Can ETH go to 10k? ›
The prospect of Ethereum (ETH) hitting the $10,000 mark has sent ripples of excitement across the crypto community. The convergence of these factors suggests a promising future for Ethereum (ETH), reinforcing its position as a leading cryptocurrency with significant growth potential.
Can Ethereum Classic reach $10,000? ›
Can Ethereum Classic Reach $10,000? Just like any other type of security, it's difficult to predict what will happen to cryptocurrency prices. ETC could reach $10,000, but it's just as likely it will collapse and be worthless.
How high will ETH go in 2024? ›
How high will Ethereum go in 2025? ›
Ethereum (ETH) Price Prediction Table
| Year | Average Price* | Percent Increase |
|---|
| 2024 | $2,703.03 | -% |
| 2025 | $4,130.87 | 100.00% |
| 2026 | $5,298.45 | 25.00% |
| 2027 | $6,984.88 | 20.00% |
8 more rowsEthereum (ETH) Price Prediction 2030
| Year | Price |
|---|
| 2025 | $ 2,543.06 |
| 2026 | $ 2,670.21 |
| 2027 | $ 2,803.72 |
| 2030 | $ 3,245.66 |
1 more row