Forecasting Ethereum’s price for 2023

Finder often engages in forecasting on the future value of cryptocurrencies: this time it is the turn of Ethereum price. 

Finder’s forecasting actually refers to averages of predictions made by a large panel of industry and finance experts.

In this specific case, Finder conducted a survey during July by which it asked 29 people to express their opinions on how ETH will perform until 2030.

Forecasting on Ethereum price

Finder’s prediction, calculated in this way, is that Ethereum’s price is expected to peak above $2,700 during 2023 and then close the year around $2,400. 

These are the numbers that emerged as an average of the predictions of the 29 specialists surveyed on the matter by Finder. 

It is worth noting that this is a decidedly bullish forecast, because so far during 2023 the price of Ethereum has not yet exceeded $2,150. 

A close at $2,400 would mean a doubling in value in one year, which is +100%. Right now the price of Ethereum is at +55% since the beginning of the year, so in theory it could be in line for such a trend. 

However, if we compare the low of the last bear-market, i.e., $880 in June 2022, with Finder’s predicted high for 2023, i.e., $2,700, the gain would be more than three times, +200%. 

$2,700 has never been touched since the Terra/Luna ecosystem implosion in May 2022, so it would for all intents and purposes be a full recovery of all losses accumulated since that time. 

That would still be a far cry from the all-time high of nearly $4,900 touched in November 2021. However, it should be remembered that the pre-bubble price was below $700. 

Forecasting the price of Ethereum for the next few years

The specialists surveyed by Finder did not limit themselves to indicating their forecasts only regarding 2023, but also expressed their views on possible developments in the coming years. 

The average calculated by Finder is that the forecasting for 2025 is more than $5,800, and for 2030 even more than $16,000. 

So on average, the 29 specialists surveyed by Finder believe that during the next cycle the price of Ethereum may make new highs, although not resoundingly higher than previous highs. 

It is worth noting that the high of the previous cycle was the around $1,500 made in January 2018, while the current one is precisely around $4,900. Therefore, between the highs of the last two cycles there was an increase of 220%, while instead this forecast assumes an increase of only 18%. 

It is therefore an optimistic forecast but not at all sensational. On the other hand, it is not so unlikely that sooner or later the price of ETH will return to the current highs, so a further increase of 18% is not at all fanciful. 

However, the argument changes regarding the next two cycles, because $16,000 would be a 175% increase from the hypothetical high of $5,800 in 2025. 

The comments

Of course, not all 29 specialists agree with these figures, which are nothing more than the average of their predictions. 

For example, Ben Ritchie, CEO of Digital Capital Management, predicts that by the end of the year the price of ETH could return as high as $3,200, which is a price not seen since March 2022. 

Ritchie is not the only specialist to be bullish, so much so that, for instance, Wirex’s head of trading, Yves Renno, predicts ETH at $6,000 by the end of 2025. 

Even more bullish is Nansen CEO Alex Svanevik, who says it could reach as high as $3,400 by the end of the year.

However, not everyone is bullish: with Desmond Marshall, for example, expecting ETH to end the year around $1,950. 

It is worth noting, however, that since the average is bullish, it means that most of the 29 specialists are optimistic about Ethereum’s price trend between now and the end of the year. Indeed, 48% of the respondents believe that the current price is underestimated. 

The reliability of forecasting about Ethereum

Predictions about future prices, especially long-term ones, are certainly always wrong. But the really important thing is something else, which is how close they come. 

This is because a forecast that is wrong by only 5% or 10% is actually to be considered very good, whereas only if it is very wrong it can be considered bad. 

However, it is worth bearing in mind that all of them are made on the basis of the information available now, so without considering any contingencies. 

For instance, at the end of 2019 no one expected a pandemic to start, and that unexpected event caused all markets to crash in March 2020, making virtually all forecasts wrong. 

Even many of the forecasts that were made at the time, after the crash, turned out to be wrong, because the rebound was almost immediate, and within less than two years the markets had made their all-time highs. 

What is worth doing is not to take forecasting at face value, but to use them to understand what is the most popular sentiment among specialists, because generally the market moves as a result of such forecasts.