In the next few years, the Ethereum price will probably continue to grow as global economies recover from the recent downturn. However, the upcoming inflation is likely to impact the value of the currency. There are some exciting developments in the blockchain world, and even if Ethereum doesn’t reach new all-time highs this year, its potential is huge in the future.
Ethereum’s price is likely to rise above $2,500 by 2022. The digital currency may even reach $10,000 by that time. However, there has been some speculation that the price will drop below $7,000 in the next year or two. This may not happen, and it all depends on a variety of factors, including the health of the overall crypto market, and the fundamentals of the Ethereum network. For instance, the launch of ETH2 could have a significant impact on Ethereum’s price.
The first major event that happened on the Ethereum network was the hacking of the DAO, one of the first major projects on the network. Hackers stole 46 million dollars worth of ether. The cryptocurrency lost almost 30 percent of its value in 2014. From there, the price of ether began to rise, albeit slowly, before spiking in November. In March, Ethereum was trading above EUR 40. In December, the price hit a high of $1,350.
The next major upgrade in the Ethereum network will change the way transactions are processed. It will switch from the Proof-of-Work mechanism to the Proof-of-Stake system. This upgrade is expected to increase the speed of transactions to 100,000 per second. This change could be the catalyst for a massive increase in the Ethereum price.