Cryptocurrency analyst and trader Benjamin Cowen has announced Ethereum’s price prediction for 2022. Cowen told 663,000 YouTube subscribers that Ethereum will be in a consolidation phase for most of 2021.

Suspect at the Ethereum price in 2022

The analyst pointed to previous consolidation periods in 2016 and 2017, both of which preceded both major upward breakouts, to give an idea of ​​what might happen next. Cowen claims that a combination of these two phases will be seen.

“I think maybe there won’t be both. It could be a combination of both. I don’t know for sure, but while I predict Ethereum will hit an all-time high in 2022 and possibly continue through 2023, it is pretty speculative to rely on now. “

Cowen says Ethereum’s current phase of consolidation is similar to 2016. ETH hovered between $ 8 and $ 16 in 2016, while it hovered between $ 2,000 and $ 4,000 for most of the year.

The popular analyst says that Ethereum consolidation could last until mid-2022, but eventually we will see a breakout.

“The trick is, this can’t go on forever, but it eventually falls into a bear market. So I can imagine that we are starting a kind of upward movement. I don’t know how high it will go. I assume $ 10,000 is a reasonable goal. We can even get as high as $ 20,000. It’s hard to say … I can imagine the sideways trend will continue for a while, especially since Bitcoin looks a bit weak right now. ”

Other Ethereum price predictions in 2022

In early November, Mr. Rahul Rai, a cryptocurrency millionaire and manager at BlockTower Capital investment fund, said Ethereum will outperform Bitcoin in terms of market capitalization in the first half of 2022.

Rahul Rai is a manager at BlockTower Capital, a former Morgan Stanley analyst and founder of the crypto mutual fund Gamma Point Capital (later acquired by BlockTower Capital for $ 35 million). Cryptocurrency.

“I am confident that Ether has a good chance of overtaking Bitcoin. If that happens, I wouldn’t be surprised. I don’t know when this will happen, but I think it could happen anytime between the end of this year and mid-2022. “Rahui told Business Insider.

EToro analyst Simon Peters for the cryptocurrency exchange also said ETH could get a higher price in 2022. This is due to a combination of increased demand but decreasing supply. In other words, demand from both institutions and retail investors looking for other coins to diversify their investments could result in a potentially bullish price for ETH.

In addition, he believes, as predicted by Bernardo Schucman, senior vice president of digital currencies at bitcoin mining company CleanSpark, that DeFi’s growth and general trend towards more crypto will push the asset to new highs in 2022 are heading towards $ 20,000 due to the numerous DeFi and Metaverse projects that have been and are expected to be deployed in the Ethereum ecosystem.

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