Crypto analyst Lark Davis recently predicted that Ethereum (ETH) could surge past the $15,000 mark by 2024. He expressed his view while responding to a fan’s question in a YouTube video published on Wednesday.
The fan asked the crypto enthusiast what he thought of the long-term price of Ethereum and Davis provided his optimistic outlook. He mentioned Ethereum’s strong growth and potential catalysts like ETH 2.0, the rise of decentralized finance (DeFi) and institutional adoption as some of the key growth drivers.
He further highlighted that the Ethereum network is well-positioned to become a major infrastructure in the smart contracts and DeFi space with its network effects.
Davis opined, “If these things come together, I would be extremely bullish on Ethereum. If Ethereum 2.0 really takes off and the scaling situation and the fees and all those things start to become really good, I would be looking at Ethereum long-term being anywhere in the range of like $10,000, $15,000 Ethereum, nothing crazy.”
From the current price at around $2,600, this represents a whopping 500% increase in a 3-4 year period. Davis further pointed out that his prediction wasn’t crazy and that the asset could do even better if the catalysts mentioned before take off and are able to prove their potential.
It should be noted that Davis is a long-time Ethereum believer and had predicted the asset’s recent rally back in 2020 when it was trading at around $400. Nonetheless, it is possible that a host of other factors may come into play by 2024 that could drive ETH’s price in the opposite direction or none at all.