Here's What Needs to Happen for Ethereum to Hit $5,000 This Year
With investors fixated on Ethereum's (CRYPTO: ETH) price near $2,100 and irritable about its prolonged period of underperformance relative to other major cryptocurrencies, it's no wonder that there are questions about what would need to happen for its price to grow by more than double, as many were expecting it to this year.There are actually a few concrete things (and a couple of squishier ones) that would almost certainly be enough to drive the coin's price above the $5,000 mark, even if it might take significantly longer than what investors are hoping for. Here are a few things that would need to happen.The Ethereum of today has a lot going for it. With a rich ecosystem of tokens hosted on its chain, it's the second-largest cryptocurrency by market cap for a reason at $250 billion. Still, its price is roughly 10% lower than it was three years ago, which suggests that surpassing $5,000 per token is not a guaranteed outcome, even for patient investors.Continue reading
With investors fixated on Ethereum's (CRYPTO: ETH) price near $2,100 and irritable about its prolonged period of underperformance relative to other major cryptocurrencies, it's no wonder that there are questions about what would need to happen for its price to grow by more than double, as many were expecting it to this year.
There are actually a few concrete things (and a couple of squishier ones) that would almost certainly be enough to drive the coin's price above the $5,000 mark, even if it might take significantly longer than what investors are hoping for. Here are a few things that would need to happen.
The Ethereum of today has a lot going for it. With a rich ecosystem of tokens hosted on its chain, it's the second-largest cryptocurrency by market cap for a reason at $250 billion. Still, its price is roughly 10% lower than it was three years ago, which suggests that surpassing $5,000 per token is not a guaranteed outcome, even for patient investors.
