Standard Chartered, a British multinational bank, has made a bullish prediction for the Ethereum price, stating that it could surpass $8,000 and potentially reach as high as $35,000 in the coming years. Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, highlighted the numerous use cases for Ethereum and the potential for more use cases to emerge in the future. He also believes that Ethereum will experience more growth than Bitcoin, with Ethereum expected to rise 5 times from its current levels.
Kendrick emphasized the increasing dominance of Ethereum, especially with the emergence of Layer 2 blockchains like Arbitrum, which enhance the network. He believes this will lead to a higher Ethereum profit-earnings ratio (P/E ratio).
According to Kendrick, the rise in Ethereum’s price to $8,000 would be a stepping stone towards its long-term valuation estimate of $26,000-$35,000. He expects these factors driving value growth to occur between 2025-2026, during the next bull market.
This optimistic prediction for Ethereum follows Kendrick’s previous forecast that Bitcoin could reach $120,000, indicating his even greater bullishness on ETH.
FAQs About the Ethereum Price Prediction
What is Standard Chartered’s prediction for the Ethereum price?
Standard Chartered predicts that the Ethereum price could surpass $8,000 and potentially reach between $26,000-$35,000 in the coming years.
What are the factors driving the rise in Ethereum’s price, according to Standard Chartered?
Standard Chartered points to the numerous use cases for Ethereum that have emerged over the years and expects more use cases to continue emerging. Additionally, the bank believes that Ethereum will experience more growth than Bitcoin.
When does Standard Chartered expect the Ethereum price to reach $8,000 and potentially higher?
Standard Chartered expects the factors driving the rise in Ethereum’s price to occur between 2025-2026, during the next bull market. They believe $8,000 would be a stepping stone towards their long-term valuation estimate of $26,000-$35,000.
Is everyone bullish on Ethereum?
No, not everyone is bullish on Ethereum. Some analysts have provided bearish forecasts, with one suggesting that the price of Ethereum could fall as low as $900.