The Ethereum price fluctuates wildly, but the long-term outlook for the cryptocurrency is bullish, according to experts. Bloomberg intelligence analyst Mike McGlone recently predicted that Ethereum could hit $4,000 by the end of 2012. But the price of Ether is highly unpredictable and can change significantly from day to day and even hour to hour.
Ethereum is a decentralized computing platform and its native token, ether, is a currency used to pay transaction fees. It’s also used to run decentralized applications and to issue new crypto assets. It’s the second biggest cryptocurrency after Bitcoin in terms of market cap. It has the potential to power a whole universe of decentralized financial apps. In addition to being a digital asset, it can also be used for transactions, such as buying or selling goods or services.
Although the Ethereum price has had a rough start to the year, the price remains above its previous highs. This means that many investors are still confident in its future growth. However, the future of cryptocurrency will be characterized by more volatility. If you are planning to invest in cryptocurrencies for the long term, you should invest only what you can afford to lose.
Considering the recent price trends, Ethereum could potentially reach $6,000 per ETH. The price would then retrace from that high, and it could fall as low as $1,400. In the past, Ethereum reached its all-time high of $6,000 in December 2018. It went on to lose 94% of its value by March 2022. And it will have to wait several years before it reaches this price again.