According to the forecast by Nigel Green, CEO of deVere Group, the price of the Cryptocurrency Ether (ETH) could soon reach more than $ 5,000 in the market. In an interview with Forbes, The expert stated that the altcoin, also known as Ethereum, could face a major surge in appreciation and break another price record in the market.
Not only does Green provide an optimistic forecast for the short-term price of Ethereum, but he is also betting that Bitcoin’s dominance will lose space for ETH, which has already risen 1,500% in the past twelve months.
According to the forecast by financial market expert Nigel Green, altcoin ETH is preparing to hit $ 5,000 in the market for the first time via the ETH / USD pair.
With the growth of the Ethereum platform through the DeFi projects, the executive predicts that Ether will continue its appreciation movement, which has resulted in a cumulative appreciation of 1,500% in one year.
In addition to the use of the Ethereum network by DeFi projects The growth of institutional investors in ETH is cited by Green as another reason that can drive the price of the cryptocurrency up.
Ethereum price (source: CoinMarketCap)
Comparison with the internet
For Nigel Green The current moment in which the cryptocurrency market lives can be compared to the arrival of the internet, which was initially dominated by the Netscape browser.
“In 1997 we thought that Netscape Navigator was by far the most advanced and advanced browser and that there would never be anything to compete with it. And here Netscape has obviously disappeared. In 10 years I have no doubt that this blockchain technology is a very will be serious force in our life. “
When comparing blockchain technology and the creation of the internet Green recalls that Bitcoin can be an outdated cryptocurrency as the market evolves with new technologies and projects like Ethereum.
“I’m much, much less convinced or convinced that Bitcoin has been around for so long. There are other cryptocurrencies whose structure and fundamentals are probably much better. Ethereum, for example.”
Ethereum could gain ground on Bitcoin
Right after they hit $ 3,000 for the first time in the market, Ethereum can still cost up to $ 5,000. In his altcoin prediction, Executive Nigel Green also compares Bitcoin with ETH.
Since this is a development in the cryptocurrency market, Ethereum should reduce Bitcoin’s dominance, according to Green. It also explains how Ethereum can be better than Bitcoin.
“It is expected that Ethereum will significantly reduce the dominance of the Bitcoin market in the next year and beyond. Compared to (Bitcoin), Ethereum is more scalable, offers more applications and solutions such as contracts. Smartphones already used in many industries are and will be supported by superior blockchain technology. “