During the last bull run, when the price of Bitcoin surged and exceeded $100,000, the price of Ethereum was expected to follow the same trajectory as in the past. But that was not the case, and the second largest cryptocurrency by market capitalization barely managed to surpass its previous all-time high price, but only by around $100. This meant that the price of Ethereum remained below $5,000, disappointing investors. Given its poor performance so far, is it still possible that Ethereum price will eventually rise above $5,000?
It may take years for Ethereum price to reach $5,000
The CoinCodex website’s prediction algorithm takes into account a number of factors to determine where a digital asset’s price might end up. These predictions range from the very short term (a few days) to the very long term (decades), showing the possible path that cryptocurrency could take.
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For the price of Ethereum, the forecast remains mostly bullish, as it continues to receive great support from investors. However, when it comes to Ethereum price hitting new all-time highs, short-term predictions remain muted, and better rallies are expected to occur as the years go by.
Despite various crypto analyst predictions that the price of Ethereum would surpass $5,000 in 2026, the algorithm dashes these hopes. In fact, it sets the maximum price Ethereum will reach in 2026 at $4,445. So, a new all-time high above $5,000 is out of the question.
Instead, the algorithm suggests that it may take a few years for the cryptocurrency to reach the $5,000 mark. This is expected to happen in the third quarter of 2028, which means there are still about two years before the Ethereum price can surpass $5,000.
What about the $10,000 mark?
The 5-digit mark is expected to be even more elusive for Ethereum, given that the digital asset has already struggled to keep pace with Bitcoin. The algorithm predicts that this won’t happen until 2030, as many analysts have predicted. But instead, it would take about a decade for the Ethereum price to surpass $10,000. According to the prediction chart, the first mention of Ethereum at $10,000 first appears after 2040, meaning it would take well over 10 years for Ethereum to reach this milestone.
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Looking to the very short term, however, forecasts remain optimistic, with the algorithm predicting double-digit rises in the price of Ethereum over the next month. The price is also expected to double over the next three months, with a high forecast of $4,298 for the second quarter.
Featured image of Dall.E, chart by TradingView.com
