Can Ethereum reach $10000?
Ethereum’s all-time high was $4,891.70 which ETH touched on November 16th, 2021. However, the price of Ethereum has declined since then. With the current momentum, ETH may not be able to reach $10,000 this year but ETH has the potential to reach $10,000 in the coming future.
Can Ethereum reach $10000? Let us do the Math
|Price as of July 5th||$1,137|
|How many times will the price have to rise to become 10,000?||9|
|Market Cap as of July 5th||$138 B|
|How much are 9 times $138 B?||$1242 B|
|If ETH were to rise 20% a year, how many years will it take to reach 10,000?||12 years|
Can Ethereum reach $10000? Ethereum Performance
The negative momentum of the final two months of 2021 has extended to 2022 as well. To date, Ethereum has almost lost over 70% of its value. Shiba has lost around 70% of its value since January 2022. Dogecoin on the other hand is down around 61% since January 2022.
Can Ethereum reach $10000? Things that are not working for ETH currently are:
- YTD Performance: Crypto market is down and almost all the cryptos are lower and this has been the case since January 2022. But what is more concerning is that ETH is one of the worst-performing crypto this year. ETH is almost down by 71% this year.
- Crowd’s Buzz: The crowd’s buzz is marginally negative and Social Mentions are low by almost 5%
Can Ethereum reach $10000? Last One Year Fall and the Responsible Factors
- November – ETH was badly affected due to rising inflation figures which exceeded the 6% due to which federal reserve also increased their rates hence decreasing liquidity in the market.
- The LUNA crash in May resulted in a large reduction in the trade of altcoins, many of which use the ERC-20 Token. This caused a drop in ETH demand. The fall in Celsius, as well as troubles with 3AC, harmed emotions and impacted Ethereum’s price.
- The delay in the Merge, which would have increased Ethereum’s competitiveness, was a factor in Ethereum’s price decline.
- Also, the price of crude oil and constant inflation could be prime reasons.
Can Ethereum reach $10000? ETH Holders Data
- As per the data by IntoTheBlock 35% of ETH holders are within a 1-12 months time frame while 4% of the ETH holders are less than 1 month old. There are 61% of ETH holders older than 1 year as of now as per the data.
- As per the data by IntoTheBlock 49% of holders are making money at the current price and 48% are losing.
Can Ethereum reach $10000? Why ETH Should be Part of Your Long-Term Investment?
Yes ETH can be a part of your long-term investment due to the following reasons:
- The majority of altcoins do not have their own blockchains. Instead, they use the Ethereum network to create ERC-20 Tokens. For utilizing the Ethereum Blockchain, Ethereum charges a gas price in the form of an Ether (Eth) coin.
- Almost every Metaverse platform is based on the Ethereum Blockchain.
- Ethereum is the main player in this field, with the majority of Tokens and Apps, are created on it.
- The current drop in ETH price is due to a lack of liquidity. Liquidity has historically improved at some point in time, thus one may predict that ETH will recover once liquidity returns to the market.
- Seeing the YTD-ETH we can see that ETH is good at recovering, and this is not the first crash. So eventually this declining phase is going to end soon.
Can Ethereum Reach 10000? Conclusion
Currently, ETH is at a very important level and it could see a major upward or downward movement in 2022. Also, it should be kept in mind that ETH has one of the highest market capital and ETH itself has a great value and is a unique blockchain token based on proof of work. So maybe this can be a time to buy at the lowest and expect a significant rise in the near future. But for all practical purposes, investors should not be disillusioned that ETH will touch 10,000.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.