I’m back with another part of the popular ‘How Many X Do You Need to Be a Millionaire??’ series. As you may know by now, I tend to pick rather popular projects. Projects that people are eager to buy, under any market condition.
Today’s pick is a big one. It’s a popular project that recently received some massive news. It’s the second project that the SEC approved for a spot ETF. Yeah, that’s right, my pick for today is ETH. As a result of the spot ETF approval, it went over the $4k price again. It looked like it was on its way to a new ATH.
However, the current market conditions are not that great, so the price dropped a bit again. Nonetheless, Ethereum should pump once the ETFs start trading. So, how high can $ETH go during the next leg? And how many $ETH do you need to become a millionaire?
$ETH Historical Performance
So, how much $ETH do you need to become a millionaire? Well, before I can tell you that, we first need to look back at its past. Once we figure that out, it can tell us where it might be going next.
Ethereum launched on 30th July 2015. That was almost 9 years ago. Talking about a crypto OG! Back in those days, we still had ICOs. That’s an Initial Coin Offering. This started 22nd June and lasted until 2nd September 2014. That’s right, well before the mainnet went live.
During this ICO, 1 $ETH went for $0.31. Yeah, you heard that right. If you bought for a $100 $ETH back then and managed to hold on to them, you’d be a millionaire right now. So, where’s that time machine when you need it?
Source: Cryptorank
We see that $ETH first peaked in January 2018. It went from $10 to $1,448. So, well done if you held on to it in those days. However, it also crashed again, back to $135. It took another 3 years for it to peak again. In 2021, it saw two peaks. The first was in May at $4,182. Next up was November with its current ATH of $4,878.
More About Ethereum’s Price
The current price is $3,391. So, Ethereum has come a long way. From $0.31 to $3.5k. $ETH also ranks as the second coin ranked by market cap, after Bitcoin. There’s an unlimited supply of $ETH. However, there are also burning mechanics in place.
In 2022 Ethereum switched from a PoW chain to a PoS chain. That was ‘The Merge’ upgrade. As a result, it even became deflationary for a short while. The current total and circulating supply is around 122 million $ETH coins.
Source: X
So, we have a first-mover advantage with smart contracts, a massive ecosystem, L2s, and spot ETFs. Just to name a few. The future for Ethereum looks good. New ATHs are looming on the horizon. What do you think, can $ETH hit a new ATH? If so, how high do you think it can go? Let us know in the comments.
What Do the $ETH Charts Say
Our Technical Analysis also did a TA on $ETH. Here’s what they came up with. With thanks to Randy. The current chart situation is a classic cup and handle pattern. To put this in perspective, there have been 1000+ of these patterns. So, while no pattern is 100%, a cup and handle is an accumulation pattern.
The break of the $4090 level would be a potential breakout. That’s where the asset moves quickly through this level, ideally on very heavy volume. This is the key to knowing if this next cycle is beginning for Ethereum. Let’s look at this chart to see this trend.
Let’s look at the breakout in October/November 2020. The volume was much heavier through the point of resistance. This small cup and handle breakout is not nearly as large as the one we have now. But the result could be similar. VanEck sees $ETH at $22,000 by 2030. Here is the chart about this prediction:
How does our TA team see this? $ETH will hit 20k. The hard part is when. If you just use a simple method such as a top trendline you get December 2025 as a date, it could get there. If this Trendline breaks to the upside, then 40-50k is possible due to momentum and frenzy. So, our TA team is quite optimistic. However, if many people want to cash out their profits, we could see a much lower $ETH price. Now we’re looking at around $13k.
How Much $ETH = $1 Million?
The prospects for Ethereum are looking good. Once the spot ETFs start trading, we should see an upside to their price. So, that brings me to the question, how much $ETH do you need to become a millionaire?
In December 2025 we could see a $20k price. At this price, you will need 50 $ ETH. If it goes above that, in a frenzy, let’s say $40k or 2-3 years later, you will need 25 $ ETH to become a millionaire. At current-day prices of $3,500, you will need 286 $ ETH to hit the millionaire mark.
So, 50 $ ETH at today’s prices would set you back $175,000. In other words, you can get in for $175k $ ETH today, you’re a millionaire once $ETH hits the $20k mark. That could already be at the end of next year.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
The post ETH: How Much for Crypto Millionaire by 2025 appeared first on Altcoin Buzz.
