Why crypto strategists predict Ethereum to cross the $5000 mark before 2022

A new survey by Finder.com found several financial strategists peg a price target of $5,000 for Ethereum, more than 100% of its current value.

According to the forecast, fintech panelists have opined that the prices of Ethereum will continue to soar as 80% of applications are built on the Ethereum blockchain.

The panelists have also stated that Ethereum has carved its independent niche amongst other cheaper, faster blockchain networks like Avalanche and Solana, and are anticipating that the said crypto will maintain its usual pace by the end of this year.

Three panelists—Julian Hosp, CEO of Cake DeFi, Joshua Fraser, head of the blockchain at Realfevr Pedro Febrero, and co-founder of Origin Protocol are of the view that Ethereum will remain bullish for the rest of the year, each anticipating its prices to close at a striking $10,000 mark.

“Ethereum at present is accommodating a large alternative financial system in DeFi which will continue to grow. It is set to become the main financial settlement layer of the world which will eventually reflect in its prices in the future,” said Fraser in a comment.

Out of five panelists, two of them have stated that Ethereum might have a bearish outlook towards the end of 2021. UWA Lee Smales has predicted the coin prices to dip below $2500. “ETH developers have shown slow progress in resolving transaction issues on Ethereum Blockchain,” he added.

As per Gavin Smith who is a General Partner at Panxora Crypto. Smith further explains that Ethereum costs have reached a point where smart contracts have become too expensive without any integration of level two solution while other smart contracts have shown better tech support and offer a large number of transaction processing at a lower cost.

Meanwhile, the Finder panel predicts Ethereum to cross the $15,000 mark by 2025, while Thomson Reuters Technologist and Futurist Joseph Raczynski have anticipated the crypto to climb up to $12,000 by 2025.

The panelists have expressed mixed remarks and have propagated both bearish and bullish prices for Ethereum.

While half of them are of the view that Ethereums dominant disposition over other smart contracts platforms is beneficial for its price elevation, others have propounded a tempered prediction stating that the currency will extend to $7000 in 2025, followed by a $15,000 mark in 2030.