Ethereum To Reach $1,700 But By The End Of 2022, According To This Survey

Reynaldo Marquez

Last Updated: July 19, 2022 8:23 pm

3 mins read

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Ethereum continues to trend to the upside and seems poised to break above $1,600, in the short term. This would place the second crypto by market cap on track to push north of $1,700 and reclaims its early 2022 levels.

ETH ETHUSDT Ethereum — ETH’s price records important gains on the 4-hour chart. Source: ETHUSDT Tradingview

However, a recent survey published by Finder claims ETH’s price is far from hitting that price target. According to 54 industry experts interviewed for the survey, the second crypto by market cap will target $1,700 by the end of 2022.

This would suggest ETH’s price current price action is a “fakeout”, an uptrend to trap bullish investors into taking long positions before re-testing lower levels. The survey claims ETH’s price could bottom after experiencing another massive crash.

The cryptocurrency recorded a yearly low at around $950, but Finder’s experts expect ETH to reach another low at $674. As seen below, a large portion of Finder’s panel expects ETH to drop to around $500 to $800 with a minority predicting a re-test of the 2020 lows below $499.

In that sense, Joseph Raczynski, a technologist, and futurist for Thomson Reuters

ETH is still positioned as the best for success. The Merge is not priced into it. The platform it created still supports hundreds of billions of dollars in transactions and value, with thousands of tokens. At this stage, Ethereum is still the blue blood of the crypto world.

Ethereum Price Prediction For The Long Term

In the long run, Finder’s experts believe ETH’s price could see as much as $20,000 with a majority expecting the cryptocurrency to break above $10,000 in the next two years. The successful implementation of “The Merge” on the Ethereum mainnet will be crucial in its future price development.

Managing director of Digital Capital Management Ben Ritchie believes ETH’s price would continue to trade in tandem with the current macro-economic factors. These could operate as mid-term obstacles for Ethereum to reclaim previously lost territory. Ritchie said:

Since Ethereum’s correlation to Bitcoin is still high, we can speculate that if Merge happens before the year-end, its price may decouple. However, the outside economic factor is vital, bringing hurdles to the short-term price action. We also estimate that the Ethereum price will reach as high as $15,000 in 2030 due to the upcoming upgrades to the ETH’s tokenomics, such as deflationary emissions and scalability.

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

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