Why Ethereum Will Hit $40,000

Crypto with Lorenzo
8 min readJun 2, 2024

Not this cycle, but most likely during the next one, which will come sooner than expected.

Image by Net Vector at Shutterstock


This represents how much ETH’s price has risen since launching in 2015.

Today, I will cover three catalysts that, in addition to the positive sentiment returning to the space, will further propel ETH’s price in the coming months and years.

Before you get ahead of yourself, I doubt we’ll see this by the end of the (current) bull market. Rather, I believe it will eventually hit $50K. If I had to give an approximate timeframe, I would say by 2030–31.


— $7K in 2024, ~$13K at the cycle peak, IMO.

— $40K by the end of this decade.

— I’ll be keen to see how Solana co-exists with Ethereum moving forward and if it manages to reduce its dominance. This (and other L1s) would make me revise the abovementioned targets.

Most of my assumptions are based on the following:

past crypto market cycles

increasing retail and institutional adoption

— ongoing growth in the number of unique wallet addresses