Could Ethereum reach $100,000?
Leading Blockchain advisor and entrepreneur, Brian Schuster, has predicted that Ethereum will hit $100,000 in value.
Schuster’s prediction states that Ether coins could reach dizzy highs if it develops as a market store, similar to gold.
Mr. Schuster says that the volatility of the market could see the cryptocurrency spike massively.
He predicts Ethereum has the potential to reach a total market cap in the region of $10trillion, which could see each Ether coin worth as much as $100,000 each.
Explaining his Ethereum price prediction, he said:
“What if you believe that Ethereum is less like one individual business and more like a store of value, like gold?
“This gives us a potential market capitalization of roughly $10trillion, leading us to believe that the price of Ethereum might rise as high as $100,000 per coin.
“We might even go one step further and say that Ethereum is not like one asset, but an asset to replace all currency that exists.
“In that case, the market capitalization would have the potential of reaching $100trillion (£71trillion), leading us to believe the price of Ethereum might rise as high as $1,000,000 (£716,870) per coin.”
“Given the sporadic and often unpredictable nature of cryptocurrency, many new traders turn to social media for answers.
“And it’s no wonder why: With the meteoric rise of cryptocurrency in the last two years, new investors are wondering if they can make massive returns and buy a castle in the San Francisco Bay Area.
“People tend to take price predictions as gospel and make poor decisions based on even the most tempered recommendations.
“A big topic of cryptocurrency speculation at present is the future of Ethereum (ETH).
“Will Ether ever reach $10,000 (£7,168.70)? My answer is simple: I don’t know, and I’m not going to tell you that it will. But what I will tell you is how to figure this out for yourself by understanding market capitalization.”
Ethereum price prediction
The fintech expert explained that market capitalization refers to the total value of a cryptocurrency, not just the price of a single coin.
He explained that the current supply of Ether is around 97million tokens, adding:
“Market capitalization goes a step beyond price to give more context to the total value of a cryptocurrency.
“You’ve likely heard that Ethereum is worth many billions of dollars depending on the day.
“The way to calculate this figure is by looking at the circulating supply of Ethereum as of this writing, roughly 97million tokens and multiplying it by the coin’s price around $950 (£681.03).
“In the last week, the market capitalization of all circulating Ethereum is around $92billion (£65billion).
“Even if cryptocurrencies seem unpredictable today, every asset must reach some value plateau.
“This normalization happens when the market has been saturated and every player has their say.
“Eventually, cryptocurrencies will reach this point.
“The reason market capitalization is useful is because it can allow us to make comparisons across different types of asset classes and to extrapolate future cryptocurrency prices.”
According to the Coin Thud live price charts, one Ether is currently worth $875.11 at the time of press.