Founder and CEO of DeVere Group, an independent financial consulting company, which provides investment and wealth management services, has predicted that the price of Ethereum (ETH) could hit $2,500 by the end of the year.
The financial consultancy firm said that the second largest cryptocurrency could see a significant rise, predicting its fourfold increase thanks to growing adoption of the digital currency as well as the use of smart contracts. Nigel Green, founder and CEO of DeVere Group, said,
“The price of Ethereum is predicted to increase significantly this year, and could hit $2,500 by the end of 2018 with a further increase by 2019 and 2020 […] This general upswing will be fueled by three mains drivers. First, more and more platforms are using Ethereum as a means of trading. Second, the increased use of smart contracts by Ethereum. And third, the decentralization of cloud computing.”
Green also said that the introduction of cryptocurrency market regulation is only a matter of time. According to Green, this will result in more confidence in the market and better investor protection.
Ethereum’s ether token is the second-largest cryptocurrency by market capitalization. Its current market value hovers at about $67 billion. While it lags behind bitcoin’s massive market cap of $157 billion, ETH is quietly growing.
Ether users say they prefer Ethereum transactions because they’re cheaper and much faster than bitcoin’s. Ethereum block times currently average about 14 seconds, compared to bitcoin’s 10 minutes.
Also Read: Ethereum founder Vitalik Buterin Lashes Out At Coindesk and Boycotts Consensus Crypto Summit
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