Ethereum price is likely to hit $ 5,000 in the next seven days as the cryptocurrency hits new highs, predicts the CEO of one of the world’s largest financial advisory and fintech organizations.
The optimistic forecast from Nigel Green, CEO and founder of the deVere Group, is: Ether, the token processed on the Ethereum blockchain, and the second largest cryptocurrency in the world, after Bitcoin cracked over $ 3,000 for the first time on Monday.
Mr. Green says, “Ether has risen more than 300% over the year to date, which is far more than the 95% jump in headline-grabbing Bitcoin.
“Ether is one of the main beneficiaries of the bigger explosion in the cryptocurrency market. The boom of the past few months has been fueled by the rising interest of large institutional investors and the growing realization that limitless digital currencies are the future of money.
“This momentum is likely to accelerate further in the near future, and I believe Ether will hit $ 5,000 in seven days.”
The CEO of deVere is not only benefiting from the increasing acceptance of cryptocurrencies, but according to Ether is currently “excellently positioned” to drastically increase his market share.
He explains: “We will see that the global shift towards DeFi or decentralized finance goes up several aisles. DeFi refers to transactions outside of traditional systems for which the Ethereum blockchain is an integral part.
“In addition, there is a growing trend for NFTs (non-fungible tokens), especially digital art, which are usually bought and sold in ether.”
Last month, Christie’s auction house sold Everyday – The First 5000 Days, a JPEG digital artwork by an artist named Beeple, for $ 69.3 million – the third most expensive work of art ever sold by a living artist.
Says Mr. Green, “Ether is expected to significantly affect Bitcoin’s dominance in the next year and beyond.
“Compared to its larger competitor, Ethereum is more scalable, has more applications and solutions, such as smart contracts that are already in use in many sectors, and is equipped with superior blockchain technology.”
He sums up: “Ethereum is years ahead of Bitcoin in all respects except price and fame. It can really be felt that 2021 is the year for Ether. It’s time. “
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