Months after announcing Ethereum 2.0, the team behind the second-largest crypto finally released the first stage of the biggest upgrade to the network since Ethereum was initially created and launched. The first step towards transitioning to Proof of Stake protocol, dubbed Beacon, was released recently, which appears to be affecting the price of ETH in the market in a positive way alongside being affected by Bitcoin’s positive momentum and the latest bull run.
What to expect from Ethereum price in 2020 and 2021? What are analysts predicting when it comes to short-term and long-term gains for Ethereum?
Ethereum Price Prediction for 2020
- ETH is trading at the current price of 580$ after the latest price correction
- The weekly chart is recording losses by -3.6%
- The yearly chart is recording 301% of gains
Ethereum is trading close to the price of 600$, which makes the next price target for the second-best crypto by market capitalization. Expectations for ETH in the future are high since the Ethereum network should become faster and more competitive with the announcement of upgrades and improvements. For now, analysts are expecting to see ETH close to the price of 700$ by the end of the year, while the crypto could reach higher prices in case of a bull run in the last days of the year 2020. For now, ETH is struggling to get past the value of 600$ where it could form a strong support for future gains and rises.
Ethereum Price Prediction for 2021
The first stage of the biggest upgrade for Ethereum by far was released in 2020, while the second stage – the introduction of “Shards” is scheduled to take place in 2021. The third and final step will be released to the public somewhere in 2022, and a new era for Ethereum should commence. Faster transactions, shorter processing times, improved scalability, and cost-efficient protocol, should all make sure that ETH gets to the well-deserved value in the following years. During 2021 and towards 2020, ETH could potentially head for its previous all-time high in case the conditions are favorable.
Image credits: Cover photo taken from Nick Chong on Unsplash