Ethereum, often regarded as the “Bitcoin Killer” is the 2nd most precious cryptocurrency in the world in terms of market cap. This has led to many people, especially traders and investors guessing about the Ethereum price prediction in INR. The very reason for such a high market cap of Ethereum is its demand in the market which is mainly being driven by DeFi (decentralized finance) projects & the ongoing Ethereum 2.0 transition phase.
With so many institutional investors betting big on crypto, the Ethereum price prediction in INR has got many people excited about it. And that is why, in this article, we are listing down the top Ethereum price prediction INR by prominent investors around the world.
Ethereum Price Prediction by Smart Investors
When it comes to Ethereum, a lot of crypto traders are highly positive about it from a long-term investment point of view. Unlike the price predictions given by random YouTubers for many cryptocurrencies, Ethereum price predictions are backed by major technical analysis firms and investment companies. Some of them are Previsioni Bitcoin, (Italian crypto analysis website), James Todaro, managing partner at Blocktown Capital
According to Previsioni Bitcoin, an Italian crypto analysis website, Etherum is expected to hit its all-time high of ₹4,24,728 by the end of the year 2021. In fact, according to the website, Ethereum will at-least touch ₹2,16,987 by December 2021.
We also have James Todaro, managing partner at Blocktown Capital who believes Ethereum to strike the ~₹6,76,428 price mark eventually. He is very affirmative in his statement that Ethereum is all set to cross the ~₹73 Lakh Crores ($1 Trillion) market cap in the coming years due to mass adoption because of Decentralized Finance.
Brian Schuster, founder of Ark Capital LLC had earlier gone all the way to predict Ethereum price to be ₹75,00,000 by the end of 2025. He further claims that Ethereum could easily consume 50% of Bitcoin’s market share in the next 5 years.
Last but not least, the managing partner at Moonrock Capital & co-founder of Blockfyre, Simon Dedic believes that Ethereum will go all the way up to ₹6,76,428 in the coming few years.
History of Ethereum
Ethereum is a decentralized open-source blockchain-based system on which other crypto tokens can be built. It is also known as “ETH” and has its own cryptocurrency “Ether” which is used as a mode of payment and as a governance token. Ethereum has gained massive popularity amongst the blockchain community due to its safe and decentralized nature allowing developers to execute smart contracts.
It was a whitepaper written by Vitalik Buterin way back in 2013 when the word “Ethereum” made a public appearance. It was then in the year 2014 when Vitalik, along with other Ethereum co-founders went on to hold online public crowdfunding for the Ethereum project which later resulted in the launch of the Ethereum (ETH) blockchain on July 30, 2015.
Price History
The Ethereum ICO was conducted by Vitalik Buterin along with the other co-founders of Ethereum in the year 2014 at the Initial Coin Price (ICO price) of ₹19.08. But as soon as Ethereum was officially launched in 2015 and hit the exchanges, it opened at ₹39.23 and soon took off to the ₹95.12 price mark within 1 month. Ethereum’s price was closed at ₹66.32 in 2015.
It was then in the year 2016 when Ethereum showed a highly progressive jump in its price by gaining almost 724% from its year opening price of ₹68.71 to ₹1,325 and then closing the year at ₹570.50. Later, in the year 2017, Ethereum witnessed a huge surge in volume due to the ICO boom where it touched the magical ₹60,000 price mark. Ethereum price later took a dip in 2017 and closed the year at ₹49,570.13 with an insane ROI of 8,560.3%
With an amazing performance in 2017, Ethereum once again gained a massive increase in price by climbing all the way to ₹92,451 but just to take a huge crash all the way down to ₹9,657 with a negative ROI of 89% for the year 2018. The Ethereum market crash in India was attributed to major market correction in international exchanges along with RBI putting a crypto restriction in India.
In terms of price gains in 2019 and its last year’s market crash, Ethereum had a fairly good run. It opened at ₹9,782 and reached as high as ₹23,383 before taking a market correction and settling the year 2019 at ₹9,801 with just 0.1% ROI.
That being said, the year 2020 was a big year for the whole crypto industry as big financial institutions started to make their way into crypto. This led the Ethereum price surge from ₹9,730.02 to ₹57,577.95 with an impressive ROI of 477%. The surge in price was also led by the Supreme Court’s verdict of lifting ‘crypto restriction’ in India.
Ethereum, after a strong finish in the year 2020, opened the year 2021 ₹57,377.12 and soon broke its all-time-high of ₹92,451 and cruised all the way to ₹1,50,451 in late February 2021.
Current Status of Ethereum Price
At the time of writing this article (Dated: 03 March 2021), Ethereum is wobbling around the price point of ₹1,10,451 to ₹1,12,451 on the Cofinex Spot market.
Conclusion
With the DeFi hype not going anywhere soon and more & more decentralized applications being built on the Ethereum blockchain along with the on-going Ethereum 2.0 transition happening, many people are betting high on Ethereum gaining a massive increase in price in coming years. However, that being said, just like any other asset, occasional market corrections are inevitable. Hence, investment in Ethereum should be solely made after doing thorough research.
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This Ethereum price prediction article, in no way, gives you any buy or sell signal. The article is meant from a discussion point of view and not from a financial advice perspective.
