Analyst Predicts Ethereum Price To Climb To $2,500 In 2018
Ethereum might rise to $2,500 and have a record-setting year this year according to a financial consulting firm.
Nigel Green, founder and CEO of deVere Group, stated thus in an email to MarketWatch: “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,”
Green attributed the general upswing to three drivers. The first being that more platforms are using Ethereum for trading. Secondly, Ethereum contracts are expanding. Thirdly, the decentralization of cloud computing bodes well for Ethereum.
Green further observed that regulation in the cryptocurrency sector is inevitable, which points to greater investor protection and long-term market confidence. Ethereum has emerged as the digital currency of choice for new token issuers due to its efficiency and flexibility. The average transaction processing time on Ethereum is about 14 seconds, compared to bitcoin, which can be as long as 10 minutes.
Ethereum’s market value was $67.4 billion at the time of this report.
Culled from CCN