Impartial monetary consulting firm deVere Group, which gives funding and wealth administration providers, has predicted that the value of Ethereum (ETH) might hit $2,500 by the top of the yr, MarketWatch reported April 27.
The monetary consultancy agency stated that the second largest cryptocurrency might see a major rise, predicting its fourfold improve because of rising adoption of the digital foreign money in addition to the usage of smart contracts. Nigel Inexperienced, founder and CEO of deVere Group, informed MarketWatch:
“The value of Ethereum is predicted to extend considerably this yr, and will hit $2,500 by the top of 2018 with an extra improve by 2019 and 2020 […] This basic upswing can be fueled by three mains drivers. First, increasingly more platforms are utilizing Ethereum as a method of buying and selling. Second, the elevated use of sensible contracts by Ethereum. And third, the decentralization of cloud computing.”
Inexperienced additionally stated that the introduction of cryptocurrency market regulation is just a matter of time. In accordance with Inexperienced, it will lead to extra confidence available in the market and higher investor safety. At press time, Ethereum is buying and selling at $653.66, with a market cap of $64.7 bln.
Following the record-breaking rally of Bitcoin final December, Inexperienced predicted that, “We must always anticipate to see Bitcoin see-sawing in coming weeks. Sharp strikes are possible, adopted by subsequent corrections.”
Earlier this month, Fundstrat co-founder Tom Lee, recognized for his optimistic Bitcoin predictions, repeated his bullish forecasts for the main cryptocurrency value, telling CNBC that it might attain $25,000 by the top of the yr.