Bitcoin to Hit $107,484 in 2021, Ethereum to Reach $19,842 in 2025
The volatility of Bitcoin and Ethereum prices keeps investors on toes. To alleviate investor emotions and concern, research portal Finder and the worldwide research group of the UK-based international bank Standard Chartered undertook an initiative.
They have made major predictions regarding the Bitcoin and Ethereum market trends based on the currencies’ current potential and investing repute. The following are some major forecast conclusions.
Bitcoin price forecasts:
As per Finder, Bitcoin will peak around $107,484 in 2021 before falling to $94,967.
The Finder panel predicts that Bitcoin will reach an average price of $3,60,179 by 2025.
According to the Standard Chartered research team, Bitcoin’s price will rise to three times its present level, bringing it to a spectrum of $50,000 to $1,75,000 per BTC.
Approximately 49% of Finder’s panel believes now is the moment to purchase BTC, while 39% wish to wait, and 12% intend to sell.
Ethereum price forecasts:
The Ethereum price is expected to peak at $4,512 by the end of the year, according to Finder panelists.
Ethereum is expected to hit $19,842 on average by 2025, according to the panel.
Panelists such as Joseph Raczynski, a Thomson Reuters technologist, and Joel Kruger of the LMAX group think that Ethereum’s continuous improvements and inherent potential will ultimately increase its value and the inventions housed on its network.
Standard Chartered also felt that the current update will enhance the usefulness and performance of Ethereum.
59% of the panelists thought now was the time to purchase Ethereum, while 28% recommended investors to wait.
Standard Chartered predicted that Ethereum’s price will rise tenfold to $26,000-$35,000 per ether.
The Standard Chartered team even anticipates Ether to outperform Bitcoin in terms of returns, with more uncertainties.
Furthermore, 51% of the Finder research team anticipated that Ethereum will be the most traded cryptocurrency in 2022, while 49% thought Bitcoin would be first.
Furthermore, 70% of respondents predicted that Ethereum’s use will increase due to an increase in the selling of DeFi and NFTs.
Though experts think Ethereum has the potential to outperform Bitcoin, they have identified two significant risks to Ethereum.
The large percentage of the Finder panel, 55%, believe that whale investors owning 70% of the ethers poses a moderate danger to the cryptocurrency, while 24% believe it poses a big one. As per 62% of Finder panelists, new and expanding smart contract blockchains pose a danger to Ethereum, while 32% think such blockchains will thrive individually or expand as a supplement to Ethereum.
Long-term and short-term top cryptos:
Long term -Polkadot (DOT) was predicted to be the most profitable cryptocurrency by the panelists, with 7% saying Bitcoin cash is a better long-term investment.
Short time – Binance Coin (BNB), Cardano (ADA), and Polkadot were the most popular cryptocurrencies (DOT).
Bitcoin Cash (BCH) and Klaytn were the least popular (KLAY).
In terms of Ethereum’s various capabilities, Geoffery Kendrick, Head of Crypto Research at Standard Chartered, stated that Ethereum functions as a financial market that enables lending, insurance, and exchanges, while Bitcoin functions nearly like a money.
Raczynski stated that Ethereum is an infrastructure that is changing the landscape of all sectors, while Bitcoin is now a household brand.