With the market recovering, experts have started to make predictions about what will happen with the Ethereum price. The Altcoin market leader is predicted to reach $1,711 by the end of this year and for 2025, forecasts are for $5739.
However, not everyone is on the same page. Given the fact that Ethereum has risen by 50% over the past week, short liquidations are well under control for now. A few risky long bets continue being placed. One person just bought the equivalent of $1.7 billion worth of Ethereum futures contracts in a span of about 2 hours.
Ben Ritchie, Managing Director of Digital Capital Management said that just like Bitcoin will feel the impact of the macroeconomic environment, Ethereum will too. However post the Merge, when token dynamics change he sees Ethereum doing well and outperforming other coins.
Tim Beiko of the Ethereum Foundation projected this week that the Merge, ”Ethereum’s long-anticipated transition to a new design” might take place the week of Sept. 19th.
Ethereum will soon be switching to a more efficient consensus algorithm. The proof-of-stake (PoS) system is expected to help Ethereum overcome the energy efficiency challenges that are slowing blockchain development. Switching from Proof-of-Work to Proof-of-Stake is one of the key changes being proposed for blockchains. Not only will it improve security, but it will also help us save on electricity.