Present market activity in the blockchain world indicates towards considerable gush in price gains. However, investors are advised to be little cautious.
Nigel Green, founder, and CEO of the deVere Group whose enterprise launched the cryptocurrency exchange app says that many major digital currencies have shown big gains over the last few weeks. There are varied important motivators powering the latest rise in prices. These include the adoption of cryptocurrency by various banks and other financial institutions. Another key reason is there is an increasing awareness and demand of digital currencies.
Further, the deVere CEO said that despite Bitcoin making the headlines, Ethereum’s price has the potential to easily reach $2,500 by the end of 2018. It is interesting to note here that even with a remarkable 1-week jump of 11.3%; Bitcoin still becomes the worst performer amongst the other biggest cryptocurrencies.
On the other hand, Ethereum will be driven by 3 essential drivers as Green said. Firstly, more platforms are considering Ethereum as a means of trading. Secondly, the increased use of smart contracts by Ethereum and third, the decentralization of cloud computing.
Certainly, Ethereum can be anticipated to establish itself as the second most highly useful and valuable cryptocurrency token in the world. The consistency in Ethereum token is going to grow well into the future.
Ethereum boasts immense potential and for it to become the next most successful currency, it needs to address its flaws so that it can compete against Bitcoin and win it.