While it is difficult to predict the future of ETH, the direction is undeniably up
Ethereum is currently prominent in the altcoin pack, the report reveals. This comes as cryptocurrency prices expect a boom in the next four years.
In mid-2020, Ethereum broke above the $280 level, crushing out of its post-bear market trading bracket. In the next few years, it is likely to be on even much higher levels.
The process of the long bottoming of ETH that lasted until mid-2020 started in late 2018. The current rise of over $300 in ETH signifies the presence of a new bull is in the market. ETH prices may rise to levels hard to fathom, given the easy government and central bank spending programs.
The phase shift in the crypto market can be attributed to the institution’s enactment of the stand-alone investment. For the longest time, Bitcoin has been the favorite cryptocurrency among investors. However, large investors from well-established markets do not carry similar convictions on decentralization.
These investors, on the contrary, are likely to prefer a growth model not forgetting rewarding platforms that offer innovative models. ETH hence offers the best platform for such investors.
Over the next four years, it will be difficult to find a situation where ETH prices rise between $1,000- $10,000. The central bank policy remains one of the biggest grey areas as it has been difficult to predict in the past decade.
As established investors prefer ETH as a cash-like reserve asset, money that would have been circulated into debt or investments may now be used in long-term ETH Holdings. ETH is still gaining value, with total capitalization now below $100 billion.
Although a $6,000 price means a $650 billion capitalization, it is still low in comparison to a single company such as Alphabet or Apple. ETH’s blockchain potential uses, however, are wider than the two companies’ services or products.
With ETH’s small capitalization, an explosive price rise can be expected at any time.
We’ve reported that Kenya is among the top Bitcoin traders globally.