deVere CEO give Ethereum prediction
A leading market consultancy firm has provided an extremely positive Ethereum prediction for this year.
As optimism returns to the cryptosphere, analysts are predicting big things for the leading digital assets.
The latest bullish Ethereum prediction is by consultancy firm deVere Group.
The founder and CEO of the global financial advice company, Nigel Green, has given his analysis for Ether.
Speaking to MarketWatch, he reveals his price predictions for the second largest cryptocurrency, saying:
“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.”
Mr. Green bases his Ethereum prediction on a number of factors, on which he elaborates.
A key factor is that more platforms will start using the Ethereum network to facilitate trading.
Other considerations include the increasing numbers of projects using smart contracts and the decentralization of cloud computing.
Green adds that he also welcomes the “inevitable” forthcoming regulation.
He says it will “lead to greater investor protection and long-term confidence in the market.”
Exciting Ethereum projects
Many exciting projects are being created on top of Ethereum from innovative developers all around the world.
One project is Basis, a stable coin that’s attracting venture capital interest due to its variable supply that guarantees price.
Amazon Web Services (AWS) is also creating templates to make blockchain development on the Ethereum public network more manageable.
Clearly, such support from the tech industry’s most prominent players is exciting for the Ethereum project.
These templates should help a flurry of new projects emerge on top of the Ethereum network.
Last week, Amazon stated in a blog post:
“AWS Blockchain Templates provide a fast and easy way to create and deploy secure blockchain networks using open source framework.”
The optimistic outlook from the deVere Group comes despite the Ethereum founder saying he’s unsure of the project’s future.
Last week, Vitalik Buterin said he has no multi-year plan for the platform.
In a statement, Buterin explained that he has “no idea where I’d like to be years from now.”
The deVere Group is just one of many who are bullish on digital currencies though.
Last week, we reported on the highly optimistic call to buy Bitcoin from the CEO of Pantera Fund.
Dan Morehead describes Bitcoin as “a screaming buy” at current prices.
He also predicts that, within a decade, the combined cryptocurrency market cap could rise to $40 trillion, saying:
“Obviously, we’re very bullish on the space. We think we’re way below, maybe an order of magnitude — or two — below the real fundamental fair value of blockchain, the industry as a whole is $400 billion.
“It easily could go to $4 trillion, and $40 trillion is definitely possible.”