Can Ehtereum reach $10K?

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Due to Ethereum’s great features, such as supporting NFTs and smart contracts, it is currently a heavily admired blockchain. Ethereum refers to itself as more than just crypto since it is a decentralized computing network built on blockchain technology.  Many investors believe that such good features being associated with it can even surpass Bitcoin. The developments being made to the blockchain are still vague, but still, people are wondering if the coin can go up to $10k.

What’s Ethereum’s story so far?

The cryptocurrency has been having astounding results since it was established in 2015. Vitalik Buterin, Ethereum’s co-founder, established that the motivation behind Ethereum was the fact that Ethereum did not support the ability to trade more than just crypto.

A few reasons might be an excellent motivation for you to invest in Ether. Gary DeWaal, chair of Katten’s Financial Market and Regulation group believes Ethereum has a lot of potential because it is soon migrating to a new protocol, Eth 2.0. He also claims that as more people use Ethereum distributed apps, the crypto’s demand will increase.

Ethereum has been designed in such a manner that people can host their applications on the blockchain. Developers love that feature a lot as they control their data with no central authority, such as the government trying to manage their activities. When it comes to smart contracts, they are coded on the Ethereum blockchain by two parties agreeing. Lawyers are therefore not necessary like things are done in conventional contracts.

Many industries have so far been established on the Ethereum blockchain. Enhancements such as scalability and ease of use have been discovered. This might be the only hold back in Ethereum as Bitcoin does not have any undeveloped systems or errors.

Up to now, Ethereum is still second in the crypto scene after Bitcoin. Its market dominance is relatively constant, but we are told to wait and see how much better it will get for investors after Eth 2.0.

Can Ethereum reach 10k?

Ethereum’s market cap is currently at $306 Billion and a current price of $2,636. For Ethereum to get to 10k, its market capitalization has to get to $1.1 Trillion. Only Bitcoin has been able to get to such a market cap. More companies are set to be drawn towards the Ethereum blockchain if its EIP goes according to plan, and the other blockchains with the smart-contract feature do not catch up to it.

Now what we are all wondering so far; when is Ethereum going to reach $10k? To make a prediction, we will have to look at how long Bitcoin took to reach the 10k market cap.

Bitcoin surpassed the $1 Trillion market cap in February. In November 2020, Bitcoin’s market cap had been $250 Billion (close to the current Ethereum’s market cap). So basically, it took the crypto four months to make such a huge jump. All of that is not to say that Ethereum will only take four months, but there is a possibility that the coin will follow the trend. Many variables play a contribution when it comes to Ethereum’s breakthrough, the biggest one being the developers’ community. EIP 1559 is upcoming and will have a significant role in determining the future of Ethereum.

Should you buy Ethereum?

The whole crypto market took a significant dip a few weeks ago. However, the bullish market seems to be taking its place back as Ethereum is already rising and is valued at over $2,600. Before the significant fall off the cliff, Ether was already over $4,000, which was the highest the coin had ever been valued. The Bitcoin Rush website predicts the price will steadily grow once more.

The current uptrend and how much you study the market should determine how much you want to invest into Ethereum. There are so many Ethereum enthusiasts who are currently in the FUD state. This is because of the many developments going on in the Ethereum community. There is more Ethereum adoption happening in companies all over the world.

Environmentally conscious investors will put their money in Ethereum as the changes being made to Ethereum aim to mine the coins in a more energy-efficient manner. This will be a significant advantage over Bitcoin and will heavily contribute to Ethereum price surging. Some Ether coins are also going to be destroyed as the network changes. Market experts say that a smaller supply of Ether will drive Ethereum’s price to go up, and it will gain more value.

The upcoming EIP1559, which is to happen this month, will bring about lower fees in the blockchain and thus predict higher investment volumes. Even with the crash that happened, Ethereum is still up more than 240% in the past few months. The market is predicted to rebound very soon, and so the possibility of Ethereum going up to $10,000 will not seem like such a big day.