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Ethereum To Reach $1,700 But By The End Of 2022, According To This Survey

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Ethereum continues to rise and appears to be poised to top $1,600 in the short term. This will allow the second cryptocurrency by market cap to rise north of $1,700 and regain its early 2022 levels.

ETHETHUSDT Ethereum
The price of ETH is recording a significant rise on the 4-hour chart. Source: ETHUSDT TradingView
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However, a recent poll published Finder claims that the price of ETH is far from reaching this target. According to 54 industry experts interviewed for the survey, by the end of 2022, the second largest cryptocurrency by market capitalization will be worth $1,700.

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This suggests that the current ETH price action is a “hoax”, an uptrend that traps bullish investors into going long before retesting lower levels. The survey claims that the price of ETH may fall after another major crash.

The cryptocurrency has recorded a yearly low at around $950, but Finder experts expect ETH to hit another low at $674. As seen below, most of the Finder panel expects ETH to drop to around $500-$800, with a minority predicting a retest of 2020 lows below $499.

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Some survey participants believe that the Merger will be the main bullish catalyst for ETH price. This event will complete Ethereum’s transition to a Proof-of-Stake (PoS) consensus protocol and purportedly open the door to network improvements and greater scalability.

In this sense, Joseph Rachinsky, technologist and futurist Thomson Reuters

ETH is still positioned as the best for success. The merger is not included in the price. The platform he created still supports hundreds of billions of dollars of transactions and value with thousands of tokens. At this stage, Ethereum is still the blue blood of the crypto world.

Ethereum price prediction for the long term

In the long term, Finder experts believe that the price of ETH could rise to $20,000, with most expecting the cryptocurrency to top $10,000 in the next two years. The successful implementation of the “Merger” on the Ethereum mainnet will be critical to its future price development.

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Digital Capital Management Managing Director Ben Ritchie believes that the price of ETH will continue to trade in tandem with current macroeconomic factors. This may become an intermediate obstacle for Ethereum in regaining previously lost territory. Richie said:

Since the correlation of Ethereum with Bitcoin is still high, we can assume that if the merger occurs before the end of the year, its price could separate. However, the external economic factor is vital, creating barriers to short-term price movement. We also estimate that the price of Ethereum will reach $15,000 in 2030 due to upcoming updates to ETH tokenomics such as deflationary emissions and scalability.



Credit : www.newsbtc.com

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