Ethereum: Cryptocurrency price figures spike overnight
Make the most of your money by signing up to our newsletter for FREE now
We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
A recent report by Finder.com, which consisted of 42 senior cryptocurrency specialists, gave their thoughts and price forecasts for Ethereum. CEO of Morpher, Martin Fröhler, suggested that Ethereum will top $10,000 by December 2021. Mr Fröhler added: “Ethereum has the potential to power the future global financial infrastructure.”
This is a view that was backed in the report been by CoinFlip founder Daniel Polotsky who said: "Ethereum's price largely follows Bitcoin's halving cycles, although that relationship may begin to decouple as time goes on, and as Ethereum continues to develop use cases that Bitcoin cannot achieve.
"Then, its price may grow at a faster rate than Bitcoin's."
The second-largest cryptocurrency by market capitalisation has risen 4 percent in value today to hit a high of $3,304.17.
Another cryptocurrency expert who runs the @GeorgeTrader Twitter site also was bullish about the Ethereum price movement.
Ethereum could soar to $10K by 2021 (Image: GETTY)
Yesterday he tweeted: "Ethereum is still going to $10k."
This price forecast was backed by most of the 42 cryptocurrency experts in the report.
The report also included more conservative price predictions for Ethereum, with one expert stating that it will be worth $4,596 by the end of 2021.
However, the expert then said that it could then soar above $10,000 later in 2022.
READ MORE: NSI explains ‘where your money will go’ as Green Bonds launch nears
The Ethereum price could rise to $10k by the end of 2021 (Image: GETTY)
The forecast goes on to suggest that Ethereum could reach $17,810 by the end of 2025 and $71,763 by the end of 2030.
Cryptocurrency trading news site CoinPriceForecast had a more conservative estimate of Ethereum's long-term trajectory.
The site predicted that Ethereum will hit $4,758 by the end of 2021 and $10,198 by the middle of 2025.
Also, WalletInvestor has a five-year forecast for Ethereum of $13,961.80.
Cryptocurrency ATMs in different parts of the world (Image: Express)
Ethereum is working to make decentralised finance a reality, and global financial institutions are taking a keen interest in its development.
Developers using Ethereum can also build decentralised finance applications and run smart contracts on Ethereum.
It has risen in price steadily since the London hard fork in early August that will make it less energy-intensive and lower its transaction fees.
Ethereum began 2020 at a price of $125.63 and by the end of the year, it grew 500 percent to $729.65.
Express.co.uk does not give financial advice. The journalists who worked on this article do not own cryptocurrency.