Ethereum (ETH) Price Forecasted to Reach $50,000 by Analyst Update

Ethereum (ETH) advocate and artificial intelligence enthusiast Adriano Feria has put forth an exceedingly positive Ether price projection. In response to criticism from skeptics, he revised the target, doubling it. His perspective resonates with that of prominent institutional entities, recent information indicates.

According to Feria, Ethereum (ETH) could potentially hit $50,000 within the current cryptocurrency market cycle. Additionally, a “bullish scenario” could propel the value of the second-largest cryptocurrency to six-digit figures, as stated by Web3 and AI educator Adriano Feria on X.

In a tweet shared with his 14,000 followers, Feria emphasized his confidence in Ethereum’s (ETH) bright future despite facing significant backlash on Crypto X. The researcher acknowledged that doubters would regret their skepticism, highlighting the following:

“If you are holding $ETH today, then you are truly the world’s elite because $ETH’s bull case should get us to $100k. You think this is a joke, but there are real world financial institutions that have come up with bull targets that are close to this. And no, this is not a joke.”

Recently, Feria adjusted the forecast of $28,000 per ETH proposed by Eric Conner, an Ethereum (ETH) ecosystem veteran and EIP 1559 coauthor.

These highly optimistic assertions emerge amidst mounting doubt triggered by Ethereum’s lackluster performance in the short term. Despite the launch of a spot Ether ETF in the United States, the second-largest cryptocurrency failed to surge. Currently, Ethereum (ETH) is trading at $3,311, marking a nearly 6% decline from the local peak following the ETF launch on July 23.

Insane price predictions for both Bitcoin (BTC) and Ethereum (ETH) are being circulated daily. In February, Feria indicated the rapid growth in ETH staking popularity based on on-chain data.

Various analysts are now sharing incredibly high forecasts for Bitcoin (BTC) and Ethereum (ETH), the top two cryptocurrencies. For instance, U.S. asset management giant VanEck presented two scenarios for Bitcoin’s price in 2050. The most bullish scenario envisions BTC exceeding $52 million per coin, while the $2.9 million mark is considered a “base” projection by VanEck.