The price of Ethereum’s native token ETH could drop to a low of USD 675 – and rise to a high of USD 2,673 – before ending the year at USD 1,711, according to a panel of crypto industry professionals surveyed by comparison website Finder.com.
According to an average of the responses given by the panelists, ETH is facing five months of exceptional volatility, with both a 57% drop and 68% gain from the current price likely to happen, before the price ends the year at USD 1,711 – around 7% higher than the current price.
At the time of writing (14:25 UTC), ETH traded at USD 1,604. The token is up 4% in a day and nearly 54% in a week.
Many panelists pointed to the Merge – Ethereum’s transition from the proof-of-work (PoW) to the proof-of-stake (PoS) consensus mechanism – as critical for the asset’s price going forward.
Ben Ritchie, managing director of Digital Capital Management, said that,
“Since Ethereum’s correlation to bitcoin is still high, we can speculate that if Merge happens...
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