ethereum - Ethereum Could Reach $2,500 Dollars By The End Of The Year Says Consulting Firm

Ethereum Could Reach $2,500 Dollars By The End Of The Year Says Consulting Firm

Virtual Currencies have been growing in the last years and reached prices never seen before. Ethereum is the second most important cryptocurrency by market capitalization after Bitcoin. Its platform is used by many developers and other blockchain projects. According to the independent financial consulting company deVere Group, Ethereum (ETH) could reach $2,500 at the end of 2018.

Ethereum Could Reach New All Time High

Ethereum could be hitting a new all time high before 2019. This is what the consulting firm deVere Group believes.

Nigel Green, founder and CEO of deVere Group explained:

“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.”

According to the analyst, there are three main reasons for this price increase. More platforms will be using Ethereum for ICOs and Smart contracts, and at the same time, companies will be moving towards decentralization of cloud computing.

“This general upswing will be fueled by three main drivers,” says Mr Green. “First, more and more platforms are using Ethereum as a means of trading. Second, the increased use of smart contracts by Ethereum. And third, the decentralization of cloud computing.”

The increasing price of Ethereum seems to be related with the increase of the price of other virtual currencies as well. Different crypto experts believe that Bitcoin, the most important cryptocurrency in the market, could reach new records this year.

For example, The CEO of Pantera Capital, Dan Morehead, said that Bitcoin (BTC), could reach $25,000 dollars at the end of the year. Pantera Capital Logo 300x102 - Ethereum Could Reach $2,500 Dollars By The End Of The Year Says Consulting Firm

Another important figure in the crypto sphere, John McAfee said that he believes that Bitcoin will reach $1 million dollars by the end of 2020. Whether that’s going to be in this way, is yet to be seen.

What is clear is that virtual currencies are expected to keep growing in the next months and years. If the two most important virtual currencies, Bitcoin and Ethereum have so good predictions, then, it is for sure that the rest market will follow.