Ethereum's value has taken a few hits in recent months, as the coin has since taken significant losses in price after the digital asset reached its all-time high in May. The price of ethereum peaked at $4.300 but since then the price has dropped by over 50% and is now below $2.000 at the time of writing.
Nevertheless, cryptography analyst and trader Kaleo predicts that the price of ETH will grow immensely over the next 12 months. The crypto analyst analyzes ethereum's movements in 2017 and predicts that, based on that, the digital asset is about to experience a parabolic rise in its price.
Kaleo's long-term price forecast puts the price of the digital asset at over $10k after a major altcoin season. The analyst's forecast puts the ethereum price well above an 860% increase in the second half of 2021.
In this article, we will discuss:
2021 Ethereum and Bitcoin Price Forecasts
Leading to Twitter, which remains his main method of communication, Kaleo gave some predictions about the prices of the two main digital assets in the market.
According to the crypto trader, the price of bitcoin would show another increase that would put the digital asset in a six-digit discovery range. Joining the ranks of cryptography analysts who have estimated the price of the number 1 crypto coin at $100.000 before the year ends.
In line with that, Kaleo put the price of ethereum at a whopping $10.000, heedless of the current bearish sentiments that continue to rock markets as digital assets continually lose value amid investor sell-offs.
The tweet started predicting more adoption by institutions and governments. At the same time, warning that there will be ongoing FUDs from institutions and governments around cryptocurrencies.
My predictions for the second half of 2021:
- $ BTC enters 6 figure price discovery
- $ ETH breaks above $10K
– We see one more major alt season
– More institutional / government adoption
– More institutional / government FUD
– Cryptunez gets a girlfriend
– Bears remain bearish— KALEO (@CryptoKaleo) June 17, 2021
Long-term forecasts for 2022 to 2023
Kaleo, who uses the @CryptoKaleo identifier on Twitter, posted a follow-up tweet containing even longer-term predictions for major cryptographic currencies. The tweet included price forecasts for bitcoin and ethereum, and forecasts for the following key regulations. But, unlike the first forecasts for the second half of 2021, these forecasts were much more pessimistic, explaining that prices would fall during this period.
My predictions for 2022/2023:
- $ BTC back down to ~$50K
- $ ETH back down below $1K
– Alts die again
– Bears who were bearish the whole way up from here to the top call for infinite clout
– Major regulation comes against crypto. People call Bitcoin dead again (it isn't)— KALEO (@CryptoKaleo) June 17, 2021
Kaleo sees the price of ethereum drop more than 90% after hitting the $10.000 forecast in the second half of 2021. Call the price drop to less than $1.000 when that happens. Altcoins were also predicted to fail at this point, putting the overall market at this point in a bear stretch.