Ethereum has dropped below $1200 from a peak that was closer to $5k, so can Ethereum reach $10000?
Can Ethereum reach $10000? Let’s do the math
|Price as of July 5||US$ 1,137|
|How many times will the price have to go up to become 10,000?||9th|
|Market capitalization in the5th year||$138 Billion|
|How much do 9 times $138 B cost?||$1242 Billion|
|If ETH were to increase by 20% per year, how many years would it take to reach 10,000?||12 years|
Can Ethereum reach $10000? Ethereum Performance
The negative momentum of the last two months of 2021 has also extended to 2022. To date, Ethereum has almost lost more than 70% of its value. Shiba has lost about 70% of its value since January 2022. Dogecoin on the other hand is down about 61% since January 2022.
Can Ethereum reach $10000? The things that currently don’t work for ETH are:
- YTD Performance: The cryptocurrency market is declining and almost all cryptocurrencies are lower and this is the case since January 2022. But what’s more worrying is that ETH is one of the worst performing cryptocurrencies this year. ETH has almost declined by 71% this year.
- Crowd buzz: Crowd buzz is marginally negative and social mentions are almost 5% low
Can Ethereum reach $10000? The autumn of the last year and the factors responsible
- November – ETH was severely hit due to the rise in inflation data that exceeded 6% due to which the Federal Reserve also raised rates, thereby decreasing liquidity in the market.
- May’s moon crash resulted in a major reduction in altcoin trading, many of which use the ERC-20 token. This caused a drop in demand for ETH. The drop in degrees Celsius, as well as problems with 3AC, have damaged emotions and affected the price of Ethereum.
- The delay in the merger, which would have increased Ethereum’s competitiveness, was a factor in the drop in Ethereum prices.
- In addition, the price of crude oil and constant inflation could be the main reasons.
Can Ethereum reach $10000? Data of ETH holders
- According to data from IntoTheBlock, 35% of ETH holders are within a time period of 1-12 months, while 4% of ETH holders are less than 1 month old. There are 61% of ETH holders over the age of 1 year at the moment according to the data.
- According to data from IntoTheBlock, 49% of holders are making money at the current price and 48% are losing.
Can Ethereum reach $10000? Why should ETH be part of your long-term investment?
Yes, ETH can be part of your long-term investment for the following reasons:
- Most altcoins don’t have their own blockchains. Instead, they use the Ethereum network to create ERC-20 tokens. For using the Ethereum Blockchain, Ethereum charges a gas price in the form of an Ether (Eth) coin.
- Almost all Metaverse platforms are based on the Ethereum Blockchain.
- Ethereum is the main player in this field, with most of the tokens and apps, created on it.
- The current fall in the price of ETH is due to the lack of liquidity. Liquidity has historically improved at some point in time, so you can expect ETH to recover once liquidity returns to the market.
- Seeing the YTD-ETH we can see that ETH is good at recovering, and this is not the first crash. So eventually this phase of decline will end soon.
Can Ethereum reach 10000? Conclusion
Currently, ETH is at a very important level and could see a major upward or downward movement in 2022. In addition, it should be borne in mind that ETH has one of the highest market capitals and ETH itself has great value and is a unique blockchain token based on proof of work. So maybe this can be a time to buy at a minimum and expect a significant increase in the near future. But for all practical purposes, investors should not be disillusioned with the fact that eTH will touch 10,000.