Ethereum Bullish Prediction Is Out: ETH To Hit $9,000 In 2022 | CryptoGazette
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There are all kinds of bullish predictions these days, and the latest ones involve Ethereum. The market has been seeing some corrections, but this is definitely not stopping the optimistic forecast from dropping into the crypto space.
At the moment of writing this article, ETH is trading in the green, and the coin is priced at $3,287.
Bloomberg just predicted that ETH would hit $9k this year.
UToday noted that according to Bloomberg Intelligence and the cash-flow model, Ethereum is valued at $6,128, or 180% of the current price.
It’s been also revealed that the upcoming major update of the network, which changes the “outdated” PoW standard to PoS makes Ether an equity-like instrument, per MarketWatch.
“As experts suggest, Ethereum will generate even more fees in 2022, aiming at around $12 billion by the end of the year, which is 30% more than generated in 2021,” the online publication concluded.
Ethereum is undervalued
It’s been revealed that the commodity analysts from Bloomberg say that Ethereum (ETH) is significantly undervalued and that three of its biggest competitors are all showing solid potential.
In the latest Crypto Outlook report, Bloomberg strategist Mike McGlone explained the fact that based on a discounted cash flow model, which is estimating the value of an investment based on projections of future cash flows, Ethereum is undervalued a lot.
The analysts at Bloomberg said that the commodity strategists also say that trend signals are bullish for Ethereum competitors Solana (SOL), Terra (LUNA), and Avalanche (AVAX).
Crypto adoption explains amidst war
The mass adoption of digital assets has been one of the most important goals that the crypto industry has set. There are more moves that have been made in this direction, and they continue.
Crypto hedge fund veteran Su Zhu thinks widespread adoption of cryptos is inevitable. This is happening as the macro events accelerate use-case scenarios for blockchain technologies.
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