Ethereum (ETH) is expected to peak at US$2.8k in 2023, before dropping to $2.3k by the end of the year.
One in five (21%) panelists think ETH is at risk of centralization following the Shapella upgrade.
Majority (53%) of panelists say now is the time to buy ETH.
The price of Ethereum (ETH) is set to rise in 2023, but will stay well below its all time high, according to Finder’s latest Ethereum Price Predictions Report.
Finder’s panel of 32 cryptocurrency and fintech specialists predict that ETH will peak at US$2,758 in 2023, before dropping to $2,342 by the end of the year.
University of Brighton senior lecturer Paul Levy, who thinks ETH will end the year at $2,200, says there’s bullish sentiment towards ETH in 2023 because it “is seen as a stable option offering more dependable continuity amidst the collapse of less rigorously tested platforms and coins.”
Meanwhile Dimitrios Salampasis, director of FinTech Capability at the Swinburne University of Technology, is less optimistic about ETH’s price and predicts it will end the year at just $1,800. Salampasis attributes his slightly bearish outlook to the recent Shapella upgrade.
“Ethereum still remains the go-to platform for DeFi but also other networks are picking up. The key issue is the fact that the network is becoming more and more centralized along with the regulatory uncertainty around staking,” Salampasis said.
In fact when asked what possible scenarios are in store for ETH following the Shapella upgrade, one in five (21%) panelists think that ETH runs the risk of centralization. 29% think the upgrade will eventually lead to a major sell off of ETH, while half (50%) think the update will put ETH under closer scrutiny by regulators.
CryptoConsultz CEO Nicole DeCicco thinks ETH will be put under closer scrutiny following the upgrade, but she still holds an optimistic view on the future of ETH.
“A successful upgrade is also likely to ease institutional investor hesitancy which might drive the price of ETH up in the long run. Less barriers to entry and increased participation in the platform should be the focus for those of us that believe in the ETH ecosystem and see its long term potential.”
Even with concerns on centralization and regulatory scrutiny, there’s still positive sentiment towards the Shapella upgrade.
About a third (32%) of the panelists believe that the upgrade improved ETH’s chances of overthrowing BTC as the number one crypto in terms of market capitalization.
StandardDAO CEO and co-founder Aaron Rafferty is part of the 32% despite also predicting a major sell off of ETH.
“Ethereum has had a number of upgrades to its network in the past couple years that may or may not be priced in.
“… If Ethereum is regulated as a commodity as the EU MiCA regulations would lead us to believe, then expect to see a significant jump given its current market dominance as the number one settlement layer for dAPPs.”
Majority (53%) of Finder’s panel say now is the time to buy ETH. Only 13% think it’s time to sell, while the remaining 33% say it’s time to hold.
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