Is It Too Late To Buy Ethereum?

The crypto market has been on the bearish run since the previous year. This trend had a great impact on Ethereum’s performance. Nevertheless, it still remains one of the most popular investments among digital coins, and more and more people are willing to learn how to trade Ethereum efficiently.

In this guide, we will examine the price history of this coin and will also take a look at the forecasts of its future performance provided by the best crypto analysts. Once we study these factors, we’ll be able to find out whether it’s too late to buy Ethereum.

How ETH Performed in the Past

Digital assets react to various events differently. That is the reason why we cannot understand if ETH is still a buy without taking a look at its reaction to events in the past. A proper understanding of the Ethereum price history will help us realize which triggers push the price up or down.

To begin with, the ETH launch took place in 2015. At that time, it was valued below the point of $1. However, in 2015 Ethereum was a revolutionary project in the blockchain industry since it aimed to introduce the technology of smart contracts, which would enable the development of decentralized applications.

It took 2 years for Ethereum to get to its first significant surge in price. By the middle of 2017, the ETH coin reached the mark of $388.04.

The price of $388.04 had been an all-time high till the beginning of 2018 the coin reached $1,361.53. However, this growth was a temporary trend. It then falled to the level between $120-220. The cryptocurrency managed to snap the recovery barrier in November 2020, which was the beginning of its most successful bullish rally in the history. The coin price increased by 220% over the next three months.

In May 2021, the coin broke another resistance level and got to the mark of $4,166. At that time, it was an all-time high of the cryptocurrency so bears entered the market, after which the ETH coin lost more than 50% of its value over the next two months.

In late 2021, bulls re-entered the competition and Ether started a steep growth, reaching $4,732.48 on 10 November 2021. Over the course of a year, ETH lost a significant share of its value and now it’s traded at the level of $1,200. Considering the previous performances of the cryptocurrency, investors are wondering if it’s a good time to buy it now. Let’s take a look at price predictions for the next several years.

How much will ETH cost?

It’s obvious that the Ethereum network hasn’t stop growing despite the recent severe decline in the price. Its previous spiked were caused by the transition to the Proof-of-Stake consensus model, which made transaction fees cheaper and reduced energy consumption levels. This made the coin highly adaptable and increased the number of its utility uses, which made ETH one of the best proof-of-stake cryptocurrencies.

So, in order to make a good prediction of its future price, we have to consider new events that can improve the utility of ETH. In the nearest future, the launch of the Ethereum 2.0 network is expected to become the game-changing event. Let’s see how analysts expect this factor to affect the performance of this cryptocurrency.

• 2022 was the year when the cryptocurrency suffered a severe decline. Its recovery is expected to start in 2023, meaning price predictions are rather positive. Analysts predict that throughout 2023 ETH can reach the mark of $2,900. This is expected to be caused by the immediate support range held by buyers.
• In 2024, the bullish pressure of ETH is expected to grow going beyond the long-term resistance level. In such conditions, intense buying pressure can push the ETH price closer to its all-time high of around $3,600-$4,000. Experts say that if the price manages to break above this range, the ETH price discovery phase will start.
• In 2025, Ethereum might suffer the lack of demand because of the growth of competitors, which are often referred to as Ethereum killers. The biggest challenge will be to ensure that the demand for the ETH native coin will not fall throughout 2025. If the network succeeds in this challenge, the ETH price is likely to get into the range between $5,000-$7,000.
• 2030 will be the year when we will know about the effect of a transition to the Ethereum 2.0 platform. If this transition will be smooth, Ethereum will cause one more revolutionary change in crypto transaction processing. It’s also expected to increase the security level and many other aspects essential for the blockchain network. All these factors can push the ETH price to the peak, which can be above $15,000.

Final Verdict

So, is it too late to buy Ethereum? If you consider the coin as the long-term investment, the answer is No. The adaption of Ethereum 2.0 and the increase of the coin’s utility will happen between 2023-2024. That’s why we suggest that today isn’t too late to buy Ethereum.