Independent financial consulting company deVere Group, has made its prediction regarding the second largest cryptocurrency. The deVere Group, which provides investment and wealth management services, said that Ethereum could see a significant rise this year.
Due to increasing adoption of ETH and the growing use of smart contracts, the price could go as high as $2500 before the end of the year. The founder and CEO of deVere Group, Nigel Green, 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 […] This general upswing will be fueled by three mains drivers. 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.”
Also, the introduction of cryptocurrency market regulation is only a matter of time, according to Green. This will result in more confidence and better investor protection. It will also attract more institutionalised investors.
Not the first prediction
Green already predicted quite a ride for Bitcoin during the all-time-highs of last December. He said that “We should expect to see Bitcoin see-sawing in coming weeks. Sharp moves are likely, followed by subsequent corrections.”
Do you think ETH has a chance of reaching $2500 before the end of the year? Let us know in the comments below!