I'm optimistic that Ethereum is going to do well in the near future. I was reading this article online about a price prediction on Ether hitting $10K, and TBH I believe it could and will. The person who made this prediction is called Ted Pillows. He claims it's a conservative target, which simply means thats a low-end estimate and the likelihood of it going higher than that is there. Although I must also confess that that's quite a jump from its previous ATH of over 4K, so to say 10k means more than double its ATH, plus ETH has been awfully quiet in terms of price action this year.
What Would Make It Make Such a Leap:
I have noticed, as I said in previous blogs, that banks and big institutions have taken notice of Ethereum. I mean why not since it's second to Bitcoin in the crypto world. Ethereum is seen as a solid and reliable network so it's a sign it's going places.
Treasury On Chain:
This is speculation at this point so it's not financial advice. The U.S. might consider bringing its Treasury on a blockchain for transparency and what chain is more secured for that? Yeah Ethereum, you got that right. If this happens as speculated then the 10K will happen in a heartbeat. More people will trust it, companies will jump in on it and that will give it that snowball growth effect.
The Numbers:
I read that Ethereum has got the highest Total Value Locked. A fancy term which simply means people are putting tons of money into it and holding. Plus, its inflation is lower than that of Bitcoin's. That is a big selling point although the gas fees offset that advantage. Anyway, simple economics says less inflation, more value and that's why some whales are investing. According to my research, only 6.38% of ETH is on exchanges at the point of writing now. This is the lowest ever in its history. The ETH investors are definitely thinking long term with their investment to make such a move. Maybe Bitcoin has taught them this, and they are not willing to lose this opportunity.
Sometimes I have doubts about ETH, because regardless, it's still crypto. What if it flops? But somehow I'm very optimistic. I feel, and this is just my conviction that it's on a path to success. I just wish I could get enough money to buy more while I have the chance now. Again, not financial advice, just my convictions.