Ethereum leverages blockchain technology for its decentralized, transparent system. The technology enables functionality beyond digital currency, such as decentralized applications and smart contracts. The developer community is one of the largest. The Ethereum platform processes transactions faster than Bitcoin.
Despite a recent pullback in the crypto market, both Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) continue to be two of the best-performing cryptos. Bitcoin is up about 80% for the year, while Ethereum is up about 60%. On the surface, it would appear that Bitcoin is clearly the superior investment in 2023.
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.
Ethereum is unlimited. The supply is continuous, although it will slow down as more coins are produced. Bitcoins are limited to 21 million. Over time, this finite supply will increase demand, pushing up the value of each coin.
“The main attribute that could allow a smart contract platform like Ethereum to overtake Bitcoin is programmability, which engenders more use cases outside of money or digital gold.”
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.
This price is expected to rise in the on-coming year (2022), with quite a few experts in finance and cryptocurrency believing that ether will overtake bitcoin. Here are a few reasons as to why people believe that Ethereum will overtake bitcoin in the coming future.
However, experts believe that due to its unique blockchain and several use cases, Ethereum has a stable future and might even perform better than Bitcoin in future but is unlikely to overtake the price of Bitcoin.
As a major milestone that has been forecasted by analysts and experts for Bitcoin (BTC) to reach in the long term, many traders and investors also want to know if Ethereum can hit $50,000 someday. YES! Ethereum could reach $50,000 by the end of 2029 as per the price forecast of experts at the Price Prediction.Net.
Assuming these numbers, to be a millionaire you will need: Worst case scenario: 39 ETH or $82,000 at current prices. Conservative Model: 29 ETH or $61,355 at current prices. Aggressive Model: 18 ETH or $38,243 at current prices.
A highly powerful network with a public blockchain as its base layer, Ethereum facilitates financial contracts, trustless asset exchange, and the creation and deployment of decentralized applications (dApps), particularly those that operate under the banner of decentralized finance (defi).
Ethereum Supply is at a current level of 120.21M, down from 120.21M yesterday and up from 119.38M one year ago. This is a change of -0.00% from yesterday and 0.69% from one year ago.
Whether Ethereum will experience similar returns again is uncertain. But since its price is two and a half times lower than its 2021 peak, investing in it at a bargain price is worth considering. Even if it doesn't see momentous returns, approaching its all-time high again could bring significant yield.
Ethereum could be a fantastic long-term investment, but there are never any guarantees when it comes to crypto. By assessing your tolerance for risk, it will be easier to decide whether it's the right investment for you.
One of the reasons to consider trading in Bitcoin for Ethereum is that Bitcoin could have reached stabilization. As of April 2021, the price of Bitcoin had sailed past $60,000 a couple of times but has then dipped back below that mark. This comes after years of increasing rapidly in volume.
Ethereum (ETH-USD)
Speaking of Ethereum, I believe it is the best crypto to buy for investors who prefer a combination of upside potential and safety. While not as secure as Bitcoin, and reliant on centralized partners, it remains relatively decentralized.
However, there are necessary conditions for Ethereum to reach a value of $10,000. One crucial factor would be the continued restoration of investors' trust in the crypto market, which needs to be widespread to establish a conducive atmosphere for Ethereum's substantial and sustained growth.
Ethereum could reach $20,000 by 2025 according to a Finder's panel. Ethereum has since been gaining momentum, starting out at $1,000 at the beginning of the year and reaching an all time high of $4,196.63, according to Coin Metrics.
It's important to note here that Ethereum losing the entirety of its value is highly unlikely, and the same goes for other popular coins like Bitcoin. We've seen many smaller coins drop to zero, especially those with a very short history in the market.
PricePrediction maintained a bullish long-term ethereum forecast that projected ETH could be worth around $2,851.56 in 2023, $4,224.26 in 2024 and $6,442.41 in 2025, based on its artificial intelligence-assisted technical analysis.
Transactions are faster on the Ethereum network than on Bitcoin's. Bitcoin is primarily a store of value and medium of exchange; Ethereum is seen as a general purpose blockchain. Bitcoin uses a proof-of-work (PoW) consensus algorithm, while Ethereum uses a proof-of-stake (PoS) consensus algorithm.
So which cryptos could might displace Bitcoin at the top of the crypto heap? Right now, the two best prospects are Ethereum (ETH -0.01%) and Solana (SOL -0.05%). Both cryptos offer more utility than Bitcoin, and both are innovation leaders in the blockchain industry, with promising growth prospects.