Ethereum price expected to hit $7,609 in 2022: report

Ethereum’s price is expected to reach US$7,609 this year, although it is expected to end the year at around US$6,500, according to Australian fintech Finder’s panel of 33 crypto specialists.

In the long term, the panel predicted that Ethereum’s price will reach US$10,810 by the end of 2025, and US$26,338 by the end of 2030 — 30% and 48% lower than the prediction in October last year.

79% of the panelists believe that Ethereum’s migration to a proof-of-stake model (PoS) would lead to an increase in price, but 11% believe it could drop Ethereum prices due to persisting high gas fees and scalability issues.

Ether is the second-largest cryptocurrency by market capitalization and is the most popular blockchain for decentralized applications (dApps).

Network congestion and scalability issues on Ethereum have allowed competitors such as Solana and Terra to provide alternative options for developers to build on.

52% of the panelists said it is time to buy Ethereum and 30% advised holding, but 19% said it’s time to liquidate. $Bitcoin (BTC.CC)$ $Ethereum (ETH.CC)$