DeVere Group Predicts Ethereum Could Hit 2,500 Dollars Before 2018 Ends
Ethereum will rise
DeVere Group, a firm that provides investment and wealth management services has predicted that the price of Ethereum will skyrocket before the end of the year. According to the group the price could hit the 2,500-dollar mark which will be its all-time high. The consultancy firm sees Ethereum which is the second largest digital currency having a massive growth this year. The attribute their facts to the growing adoption of the digital currency as well as the continued popularity of the smart contracts.
According to deVere Group CEO Nigel Green:
“Ethereum’s price will increase significantly this year and might even hit 2,500 dollars before the year’s ends and then continue its growth in 2019. The upward growth will be caused by the fact that more platforms are now using Ethereum as a means of trading, smart contracts are becoming more popular and lasts the decentralization of cloud computing.”
Green went on to say that the introduction of the market regulation was a matter of time and when it happens people will have more confidence in the market because there will be better investor protection. Currently, Ethereum is trading around 650 dollars with its market cap ranging at 64.5 billion dollars.
Green made a correct prediction about Bitcoin when it was rallying massively. Green had predicted that: “we are going to witness Bitcoin see-sawing in the coming weeks. The market will witness massive corrections which will be followed by sharp moves.”
There have been other predictions about Bitcoin. Tom Lee, the founder of Fundstrat, has said that he is optimistic that Bitcoin price will rise massively this year. In fact Lee sees the Bitcoin’s price hitting 25,000 before the end of the year.
All the digital currencies had a very difficult start of the year after the price drop towards the end of 2018. The prices have started recovering in April and the rate of volatility does not seem very high like last year.