What are the Ethereum (ETH) Price Forecast and Predictions for 2021
Ethereum is the second most popular blockchain network in the cryptocurrency space and recently it’s utility has grown manifold owing to the DeFi boom.
Ether (ETH), Ethereum’s native cryptocurrency too has grown explosively in value. ETH has registered an almost 200 percent appreciation in price from the starting of the year to date.
ETH USDT Year-to-Date Returns for 2020, Source: TradingView
With an upwards price trajectory that is reminiscent of the famous 2017 rally, Ether stands to gain a lot on the price front. How high can it go this time? Will it surpass its previous all-time high of $1400? What will be ETH’s price by the end of this and most importantly next year?
Is it an investment worth holding onto until 2021? We will look at all predictions and ETH price forecasts. But first, let’s examine its current market scenario and the state of the Ethereum ecosystem.
The Current Ethereum Ecosystem Scenario
According to on-chain metrics and daily cryptocurrency market insights provider, Santiment, it’s a good time to buy ETH and the market looks bullish.
Although ETH caused some serious pain to investors who entered the market a month ago, Santiment thinks that the giant 30 percent drop in price, has reduced its risk quotient. But why? Price had ballooned to $485, and buying then would have led to investors placing precarious bets.
But now, due to the drop that risk is now out of the picture so buyers can hope to cash in some decent returns during the next ETH rally.
ETH USD MVRV (30 Day), Source: Santiment
Based on market cap, Santiment’s NVT (Network Value to Transactions) model shows that ETH circulation is healthy and well above it’s expected levels.
Overall the NVT model when mapped with ETH’s past market performance has projected accurate bullish predictions for its future activity. It is still the same. ETH market scenario is bullish.
ETH Price/NVT Comparison, Source: Santiment
Data from analytics firm Glassnode shows that internal transactions within the Ethereum ecosystem, have jumped 3 times in the 3-month timeframe from June – September.
In June, Ethereum was processing around 1 million internal transactions per day. That number shot up to 3 million by September. A 300 percent appreciation.
Now that we have touched upon Ether’s current market scenario, let’s move onto the predictions and forecasts for Ethereum’s cryptocurrency.
Ethereum (ETH) Price Predictions And Forecast For 2021
As it happens, we might see a $1000 ETH in 2021. According to Digitalcoinprice.com, the Ethereum coin will attain a $1022 price tag in April next year.
ETH could start 2021 on a fairly bullish note hitting the $825 price mark in January, climbing to $1022 in April, and then gradually declining to $691 in November 2021.
ETH USD Price Forecast for 2021, Source: Digitalcoinprice.com
Apart from the above, longforecast.com keeps it’s ETH price predictions for 2021 fairly leveled. According to the website, the world’s second most popular cryptocurrency will enter 2021 on a $414 note.
Prices will remain grounded, at the most touching the near $600 level in June 2021, slipping to the $318 level in December next year. Overall as per the website, ETH will undergo a $100 price deduction during the course of the next year.
ETH USD Price Forecast For 2021, Source: Longforecast.com
These were ETH price predictions made by websites. Few folks who have considerable influence over the investment sentiment of crypto investors have also been vocal about the supposed market direction of Ether next year.
Numerous other folks who have considerable influence over crypto investors have also been vocal about their own ETH price predictions, but none of them provide a specific figure for 2021.
How To Buy Ethereum (ETH) With INR?
Looking at ETH’s market performance and 2021 price predictions, it makes sense to plug some capital since the blockchain project has great potential as far as utility is concerned. Ethereum is still the top platform preferred by blockchain developers for producing dApps (decentralized applications).
But how to buy Ethereum’s ETH token with INR in India? Well, you can head to WazirX as it is the only cryptocurrency exchange that offers the best Ethereum(ETH) to INR rates in the country.
To buy ETH through WazirX, you need to register on the platform first, then finish a super quick KYC process and finally deposit funds for the purchase.