Let’s take a look at the value that analysts are forecasting for Bitcoin and Ethereum in the medium and long term.
Summary
The key factors of more or less accurate forecasting: Bitcoin and Ethereum
Price analysis is a complex art, and there are certain technical indicators that cannot be overlooked; in fact, they are fundamental tools.
Among the must-have indicators for proper price analysis going forward are the Moving Average (MA), Exponential Moving Average (EMA), and Fibonacci Retracement.
The Moving Average indicates the direction in which price is turning net of sudden movements.
The EMA, similar to the Moving Average, gives a more accurate indication of the short term.
The Fibonacci retracement, allows forecasting a change in market direction and the possibility of it occurring (retest).
In addition to the indicators explained, tools such as Bollinger bands and Convergence Moving Average or Divergence Moving Average can be used.
Bitcoin and Ethereum price forecasting
Analyzing and forecasting Bitcoin and Ethereum, or other crypto assets in general, is a tough thing to do, but in this article we will try to give a medium to long term indication.
Ethereum (ETH)
Ethereum benefits greatly from the ecosystem it represents, it is the most important DeFi platform, and is itself the parent platform of other ecosystems.
Since three years ago (2020), the price of ETH has risen from about €300 to the current €1474 with peaks as high as €5000.
Last month was a good month for Ethereum, with a slightly down start that however saw a rise from the middle of the month onward.
At the end of the month, the currency then retraced towards €1650 while as far as the ETH/BTC trading pair is concerned, the picture is bullish for ETH.
According to leading analysts, Ethereum will outperform Bitcoin in terms of growth rates as the price has been more stable in a descending channel from October 29 to the present.
Corrective channels such as the one ETH has stumbled into usually lead to a change in direction, resulting in exponential growth.
Ethereum’s continued updates are reassuring news to analysts that make it clear that the focus on the currency is one of continued improvement.
On 28 February, there was a green light for ETH withdrawals in pre Merge staking.
Ethereum’s Tim Beiko said that the Shanghai + Capella fork upgrade was successfully completed.
Beyond Shanghai and Capella, Goerli testnet and Ethereum mainnet updates will follow.
The new upgrades will speed up and improve the Ethereum network thus giving added value to the ecosystem that should be considered in the predictions.
Three years from now, Ethereum’s value is given at twice its current value but there are also those who give the second largest currency by capitalization around €10,000 at the end of 2025.
No one can predict the future with certainty since price is often influenced by exogenous market variables but the currency’s target prices for future years find most analysts in agreement.
With unabated growth year by year and starting in 2023, the value of ETH is given at €3,965, €4,764 (2024), €5,982 (2025), €5,767 (2026), €5,888 (2027), €6,701 (2028), €7,503 (2029) and €8,300 (2030).
Bitcoin (BTC)
Excellent start of 2023 for Bitcoin, both January (mostly) and February proved positive giving momentum to the entire crypto market.
Inflation data and a calmer Fed contributed to digital gold’s positive period.
Whether the €16,000 touched after the FTX scandal was the bottom or not for Bitcoin is still a matter of debate but even though there are those who believe so, caution should be exercised.
Over time, it has been discovered how the macroeconomic framework greatly affects the price trend of BTC.
Much is affected by inflation, which being Bitcoin a deflationary asset is affected more positively than others.
No matter what, Bitcoin is a currency that is destined to remain over time, despite the long descent from the €60,000, volatility is to be considered normal for a currency such as this.
Perhaps the 60,000 is not around the corner but it is a matter of time since Bitcoin is destined to grow for thousands of reasons.
Institutional investors are beginning to give credit to BTC by opening to Bitcoin holdings in their portfolios with increasing liquidity.
Even at the level of states much has changed and much more will change, alongside the established case of El Salvador in fact, even the Central African Republic is adopting BTC as legal tender.
Any cryptocurrency is inevitably related to BTC and this too makes Satoshi’s currency the true market maker.
Born back in 2009, Bitcoin has a history from which to draw to understand its behavior and insights for possible market forecasting.
Bitcoin’s cyclical halving, essentially the halving of the reward paid to block validators, lowers its pace of expansion and contraction every 4 years or so.
If we look at the history at each phase of contraction and new expansion, the price is significantly higher in both percentage and absolute terms than the previous cycle.
BTC’s Halving history shows that the future that awaits the major currency is very bright.
In the long term, there is no doubt that Bitcoin is an asset to hold on to.
The levels and forecasts for which most analysts agree, give BTC much higher than the current market value.
Those buying Bitcoin today are doing so at super attractive levels that could triple the value of the investment in a few years.
The forecast between now and the end of next year likely gives Bitcoin in the range of 45,000 euros to 100,000 euros according to analysts.
Massive adoption by institutional investors and continued whale purchases leave no doubt about the currency’s upcoming trend.
Some leading industry figures such as the CEO of the Kraken exchange even give BTC above €20,0000 within a few years.
Instead, four years from now it is likely that the €60,000 level will be the new bottom, which will see a peak of €100,000 in the next Halving and a descent back to this level.
