Before you invest in cryptocurrencies and read tons of predictions, keep in mind that predictions can never be 100% accurate especially for cryptocurrencies. Here are some predictions for people who already use Ethereum and this is what they believe can happen with it in the near future.
Breaking the $2000 Benchmark
According to one user, the price of ethereum is expected to reach more than $2000 mark by the end of this year. This is based solely on the success that ethereum had these past two years. It went from $10 in January to around $700 this year. In order for Ethereum to reach the $2000 mark, it needs to reach a market cap of 200 billion. Some of the factors that can make this possible are the current supply of Ethers which is 100 million coins, Ether applications and its smart contracts, the growth in demand and many more.
The price of Ether can surpass that of Bitcoin in the following months. This means that with every single penny invested in Ether, Ether will make bigger returns than Bitcoin. This is because most of the investors that invest in Bitcoin are short-term investors but also this movement is possible because of the growth of Ethereum last year. CEO of Polychain Capital, Olaf Carlson believes that the entire market cap of Ethereum will exceed the one of bitcoin.
It’s Not All Rainbows And Butterflies
Despite its success, ethereum still has a lot of major issues to solve before it makes a huge impact on the market. Ethereum mainly has a big problem with the scalability. The biggest concern is that if more users join, it will slow down the transaction time even further. So before this problem is solved we can’t expect for bitcoin to skyrocket.
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