Financial consulting firm anticipated that Ethereum, the second largest cryptocurrency, can see 4-fold increase thanks to the increase in the use of smart contracts in addition to the digital contracts. DeVere Group CEO, Nigel Green told MarketWatch:
“It is estimated that the price of Ethereum will increase significantly this year. It is predicted that this increase will increase to 2,500 dollars by the end of 2018 and this increase will continue between 2018 and 2020. This overall increase will be fuelled by 3 main reasons. First, more platforms use Ethereum as a trading tool. Secondly, the increasing use of smart contract and third one is decentralization of cloud system.
Green also notes that it is only a matter of time to introduce cryptocurrency market arrangements. According to Nigel Green, the cryptocurrency market will provide greater confidence and result in more reliable investor protection and increased security. At the time of this report, Ethereum was trading at $64.7 billion market value at the level of $653.66.
For Bitcoin, which broke the record in December, Green predicted that: “We can see the sharp movements of Bitcoin in the coming weeks and then, the ups and downs after the coming improvements.”
Tom Lee, known for Bitcoin estimates earlier this month, co-founder of Fonstrat, said in his statement in CNBC that the price of Bitcoin could reach $ 25,000 by the end of the year and the value of the cryptocurrency would increase as he said in his earlier estimates.