Ethereum is the second-largest digital currency in the world and has recently crossed a significant price mark of $4k. It is currently trading at $4,569 (at the time of writing), however, according to analysts at Goldman Sachs, it might surge higher by the end of the year.
The price of the most popular altcoin has been moving upwards for a few weeks now and despite seeing slight price corrections it is still looking strong.
Here is a graph by CoinMarketCap, showing the price of ETH over the last week.
Let’s find out more about the Ethereum price prediction by the analysts.
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What do the Analysts Have to Say?
Goldman Sachs is the leading investment banking company on a global scale. It is based in the USA and has a team of skilled analysts.
According to these analysts, Ethereum can rise as high as $8,000 by the end of the year. It has also been determined that one of the reasons for price surges seen for Bitcoin, Ethereum and other digital assets is inflation.
Bernhard Rzymelka, Global Market managing director at Goldman Sachs, recently stated that the local backdrop for Ethereum looks quite positive. This is because the digital currency has “tracked inflation markets particularly closely, likely reflecting the pro-cyclical nature as “network based” asset”.
Over the last few weeks, Ethereum noticeably surged higher than its previous all-time high and claimed a new one. Even though the analysts do anticipate a price drop for ETH, they still expect the altcoin to touch the $8k price mark by the end of 2021.
What Should ETH Investors and Traders Know?
The Ether token is the most prominent altcoin, while Ethereum is a technologically advanced ecosystem that aims to evolve and improve over time. There are a few upgrades planned for Ethereum that are also highly anticipated to drive up the price of the crypto asset.
One of the much-awaited upgrades is the London Hard Fork Upgrade, part of which has been launched. It has already positively impacted both the ecosystem and digital currency.
The price of Ethereum is expected to surge higher, thanks to these upgrades among other factors. If you also want to invest in ETH, make sure you choose the best crypto exchange to buy Ethereum.
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