At the same time, the long-term outlook for the industry is solid thanks to the fact that mass adoption is likely to continue in 2023. More people will get comfortable with crypto next year, despite bad news such as the FTX collapse, leading to solid outlooks in the future.
Crypto's Future Growth in 2023
Additionally, it is anticipated that new cryptocurrencies and blockchain-based platforms will continue to develop in 2023. These new advancements are anticipated to improve the use and utility of cryptocurrencies, increasing their appeal to both businesses and investors.
Recent allegations of fraud and crackdowns by regulators on crypto exchanges have dimmed the prospect that cryptocurrencies will bring about a revolution in finance. The industry is looking for a new purpose.
Investments in cryptocurrency can generate profits. The market has extended immensely over the past decade. There is a limited history of the price activity of the cryptocurrency markets, so far they appear unrelated to other markets like stocks or bonds.
A lot of financial experts say it's an excellent long-term investment. Your financial situation and risk tolerance will determine whether you buy bitcoin in January 2023. If you're looking for a long-term investment, consider buying Bitcoin at the start of 2023.
Cryptocurrency is known for its volatile price swings, which makes investing in cryptocurrency futures risky. You can trade cryptocurrency futures at brokerages approved for futures and options trading.
Conclusion: Yes, Ethereum Can Reach $100K
The main reasons behind this are the increasing use of Ethereum in the world of digital bonds, real estate, and government and central bank usage of the blockchain network on a state level.
In 2040, we can expect an average price of Ethereum (ETH) around $23,000 – $25,000, depending on market trends. More positive forecasts predict Ether's coin to be around $40,000.
Overall, to reach $1,000, Solana's market cap would be $404 billion, which is feasible in the crypto market. Therefore, some believe that it is not impossible for Solana to reach $1,000 in the future under the right conditions. Of course, anything can happen in the crypto market, so this is by no means a guarantee.
As we've learned in the article above, there seems to be a consensus that cryptocurrencies are here to stay – that said, their total market capitalisation could diminish. And, of course, individual coins crash and burn at any time.
After a prolonged bear market in 2020, analysts and investors are optimistic that the crypto markets will rally in 2023. This positive outlook has been bolstered by the fact that the industry has managed to weather the storm and show signs of recovery even in difficult times.
A top Internal Revenue Service (IRS) official says, “Cryptocurrency is here to stay,” and “it's becoming more legitimate.” The official added that the U.S. tax authority is looking to partner with crypto companies, noting: “I don't see how we can operate in this space without it.”
Having seen a destructive passage of play for cryptocurrency in late 2022, its outlook is poised to make an astonishing shift in 2023 through to the end of the decade. An expert report has indicated that cryptocurrency is expected to be worth $12.10 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 11.9%.
So in conclusion, it is very unlikely that cryptocurrency will replace banks in the near future. Banks may replace certain currencies with cryptocurrencies in the future, for example, the proposed idea of 'Britcoin', but the value of banks is still too great for them to be made completely redundant.
With the bull market expected to start in 2024, our 2025 Ethereum price prediction estimates a price of $7,630. While long-term price predictions are more difficult to make, we believe Ethereum could break the 10K mark in 2030, with the average price for our 2030 Ethereum forecast at $9,800.
Ethereum, however, has an infinite supply. In January 2021, there were 113.5 million tokens in circulation. As of April 2022, there are roughly 120 million. There are some predictions that after shifting the Ethereum process from PoW to PoS, the supply of Ethereum may be reduced.
According to expert Bitcoin price prediction, the value of the popular digital currency could reach a minimum of $609,000 by 2050 and a maximum of $646,000. With continued adoption and development of blockchain technology in the near future, this could increase even further over time.
According to a projection by VanEck, the Ethereum (ETH) price could skyrocket to $51,000 by 2030 if there's another crypto bull market. The prediction is based on Ethereum (ETH) becoming accepted across various industry sectors, such as finance, healthcare, and insurance.
Bitcoin is the more established and mainstream of the two, which makes ETH just a touch riskier. As with most investments, it's possible Ethereum's higher risk brings with it potential for higher rewards.
So if you believe blockchain-based technology will explode in the future, investing in crypto for the long term can be a great option. However, it's crucial to keep in mind that investing in cryptocurrencies exposes your investment to volatility and numerous risks, such as wallet hacking.
The truth is that cryptocurrency is an extremely volatile asset. Investors need to understand that owning crypto involves taking on a great deal of risk in their portfolios. But for investors who understand how to manage risk, crypto could present great opportunities.
It often takes long-term planning and a disciplined approach. Despite being a relatively new asset class, cryptocurrency may already be a viable long-term investment worth your consideration.