Based upon market capitalization, Ethereum is the second most popular cryptocurrency on the planet, next to Bitcoin. The unfortunate reality is that no one has been blessed with a crystal ball with regards to a definitive price for the crypto. In this article, 9 experts weigh in on Ethereum price predictions for 2020, providing valuable insight.
Ethereum Expected to Spike in 2020
“Ethereum is expected to start 2020 at ~$700 and end the year at ~$1400. As the second leading cryptocurrency worldwide, there is no shortage of holders. Taking into account the growing interest in cryptocurrencies in nations with unstable economies, Ethereum and other major cryptos will continue to rise at a steady pace. BTC has doubled since January 2019.”
Ian Cogswell, Consultant, Pelicoin
The Ethereum Price Will Be At $1500
“By mid-2020, I expect the Ethereum price to be at $1500.00.
Although cryptocurrency is still in its infancy, the technology behind it is rapidly growing, and so will the value of the currency. Here are some of the things that will cause the Ethereum price increase:
-Mobile wallet usage will increase as smartphone purchases continue to rise, opening the potential for a fully compatible crypto and credit card mobile wallet to be introduced by the end of 2019.
Cryptocurrency payment technology continues to advance, with merchants from a wide variety of industries now offering crypto payments in both online and retail settings.
Blockchain is also becoming more commonly used for everyday transactions, including home and car titles, legal contracts, government contracts, retail inventory and more.”
Eric Brown, Founder and CEO of Aliant Payments
Ethereum in 2020 is $660
“As projects like Brave (Basic Attention Token), Aragon, Golem, and other ERC20 based tokens continue to grow and bring in more mainstream adoption to the Ethereum protocol, the demand for computing power (gas) will go up. The supply may or may not be able to keep pace depending on how quickly the Ethereum team can move to a Proof-of-Stake consensus system. Given current projections and lack of supply, our target price for ETH in 2020 is $660.”
David Kemmerer, Co-Founder and CEO, CryptoTrader.Tax
A Huge Resistance At $800
“I believe we have seen the bottom for Ethereum (Dec 18) at $83 and a new bullish cycle has begun. It is likely we will see some ranging around the $200 area to pave the way for accumulation. $300, $520 are the 2 major resistances before a huge resistance at $800. After accumulation is finished it is possible that $520 will be broken before reaching $800.”
Chris Skordis, Market Analyst, Inside Bitcoins
Conservatively Ethereum Will Be At $3,500
“I have been investing and following the cryptocurrency space for around 3 years now. Recently, as of May 21st, 2019, Bitcoin has been showing strength after a roughly 85% drop in price. The 6000 dollar mark was supposed to be fierce resistance, but it was broken, and we are holding above 7000. There is strength in the cryptocurrency market, but it is still dormant. The reality is that this market is still a baby, and the technology behind it is in its infancy. In 2018 we saw a bull rally due to media, unsubstantiated by sound products, technological value, and adoption. In short, it was fluff, and now we build. The next rally will be due to adoption and real use cases, at that point I don’t see 50,000 – 100,000 being unreasonable for bitcoin. If we take the ratio of the 2018 rally into account, conservatively this puts Ethereum at $3,500. There is a huge upside to taking a long term approach to this market, and patience will be rewarded.”
Jose Bravo, Business Development Manager, Oscilloscopesource.com
In 2020 Ethereum Will Be Upwards Of $1,000
“I think that the fact that so many other blockchain projects use the Ethereum network for trading or for smart contracts means that it is one of the best-placed currencies just now. There is every chance that it takes over from Bitcoin as the number one digital currency in the future, as it is arguably inherently more “useful” than Bitcoin and Litecoin.
It is notoriously difficult to predict prices in this industry but don’t be surprised if ETH is a lot closer to BTC in 2020, at upwards of $1,000.”
Phillip Konchar, Head Tutor, My Trading Skills
Price Data Predicts A Rate Increase Of 5300%
“After the Ethereum Foundation’s May 21st announcement that they are allocating $30 million to the development of the Ethereum network, we have consolidated our research to predict the price of Etherum in 2020.
Trackable Ethereum price data predicts a rate increase of 5300%.
The price of Ethereum at the end of 2020 can be predicted by finding the date in the 2016 correction that correlates to December 31, 2020, and applying the same ratio.
Ethereum traded at $638 on February 3, 2018, having risen at a rate of 5300% from its measured low of $5.70 425 days previously.
Applying this same 5300% rate of increase to the $75.4 low, we expect prices to reach approximately $4,600 at the conclusion of 2020.
There are 3 primary catalysts in Ethereum’s growing significance:
1. A growing number of platforms are using Ethereum to trade.
2. Cloud computing’s decentralization will allow Ethereum to take a leading position.
3. The number of cryptocurrency’s smart contracts will continue to grow.”
Corrinn McCauley, Consultant, Pelicoin
Above The $600 Mark By Early 2020
“Ethereum has tasted the sweet and also faced the bad and the ugly that the crypto industry has to offer. From riding massive market speculation and hitting $1,377 before falling back to $84, unending bugs that allow for hacks, and even developing teams split. One may, therefore, conclude that it has seen it all and has finally stabilized.
Future price increases will most likely be informed by more of industry operations and less speculation. Key drivers of the ethereum price for the rest of the year and going into 2020 will include the creation of more Dapps on the Ether blockchain.
Pridecopin, a sentiment score analyzer algorithm shows that the general opinion on ethereum is shifting towards positivity, albeit slowly. Add this to the onboarding of more multinational companies like Microsoft and Intel to the thriving Ethereum Alliance and the upward streak the company has already adopted and we predict it may tear above the $600 mark by early 2020.”
Edith Muthoni, Chief Editor, Learnbonds.com
Ethereum Shall Boom Together With Bitcoin
“Since 2019, Ethereum’s price movement has been strongly correlated to Bitcoin with a (Pearson) correlation that is always above 0.8, according to coinmetrics.
As Bitcoin is entering a bull cycle, Ethereum’s price is expected to continue to go up. We believe that improved investor sentiment and attention from institutional investors shall continue to push Ethereum’s
price up from the second half of 2019 to the beginning of 2020. By May 2020, Ethereum shall boom together with Bitcoin, due to the halving of latter, an event which has lead to a surge of Bitcoin’s price in the past.”