- Analyst Crypto Patel predicts price appreciation Ethereum by the mid-2030s to $50,000.
- Most likely, he is misinterpreting the signals on the ETH price chart.
An analyst using the pseudonym Crypto Patel was “a realistic” prediction, as he put it, for the price of Ethereum until 2029.
The expert’s baseline forecast suggests an increase in the ETH price to $12,000 by the end of 2029. In this case, the asset’s new price peak would exceed the previous one by 2,4 times, and kriptovalyuta will approach the level of capitalization of the Meta* company, the share price of which estimated at $1,55 trillion
Crypto Patel has plotted a graph showing how Ethereum’s price will change over the next four years. His calculations suggest that the coin’s price will reach $50,000 by mid-2030. If he’s correct and the amount of assets in circulation remains unchanged, ETH’s market capitalization will rise to $6 trillion, a level unattainable even by Bitcoin.
Ethereum price fluctuations on a chart
The problem with the chart published by the analyst is the distorted ascending channel that the specialist refers to when predicting a strong rise in Ethereum’s price.
On a standard chart, the upper line of the figure, which runs along the cryptocurrency’s price peaks in 2021 and 2025, rises at an extremely shallow angle, and by the end of 2029, it will be around $5,076. Therefore, a truly pragmatic forecast is for the ETH price to reach $5,076 by the end of 2029.
The most likely change in the Ethereum price
* The Meta company is recognized as extremist in Russia and is banned.
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