ETH - Just How Realistic Is an Ethereum Price Target of $10000?
2023-04-13 06:45:00 ET
Ethereum (CRYPTO: ETH) is up 60% for the year, and all eyes are now on the blockchain's pending Shanghai upgrade. This is the first major upgrade to Ethereum since The Merge, and has been highly anticipated for months.
The Ethereum bulls, of course, think that Shanghai will be a huge win for Ethereum, and are getting ready for a huge rally. Some are even predicting a $10,000 price for Ethereum by 2025. But just how realistic is that target? After all, the record high for Ethereum ($4,891.70) is less than half that level.
Both bulls and bears agree that the Shanghai upgrade is pivotal to what happens next with Ethereum. The upgrade is directly related to Ethereum's transformation from a proof-of-work blockchain into a proof-of-stake blockchain last year. As soon as that change took place, Ethereum had to consider the implications for staking , which is the process of locking up crypto on the blockchain in exchange for rewards.
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Just How Realistic Is an Ethereum Price Target of $10,000?