Ethereum (ETH) could hit $10,000 and above in the future!
Ethereum (ETH) had a pretty good run in 2017, pushing up from less than $10 to over $1000 in early January 2018. And even after the recent drop in crypto prices, ETH seems to be the only crypto that has held its value, falling by a lower margin than the rest. But for a new investor, It is a conundrum. That’s because many can’t tell whether it’s still a good investment, or whether the Ethereum boat sailed long ago. Well, the answer is simple, it’s still early days for ETH. In fact, a valuation of over $10,000 for Ethereum is not improbable in the long-run. Here’s is why.
- It’s more than just a cryptocurrency
Unlike bitcoin and other cryptos out there, Ethereum (ETH) has more than just speculative value. It is designed to allow developers create applications that can have a real-world use. Anyone who has some programming knowledge, and a good idea can create something of value on the Ethereum platform.
This aspect of ETH has played a key role in pushing up its value to over $1000. Now imagine what will happen once Ethereum gets true mass adoption. Its demand will be so high that even a valuation of $10,000 could be an understatement. Basically, Ethereum is still at the early adoption stages, which makes it a high growth investment, even for investors who come in, at current prices.
- It has a visionary team behind it
If you have ever invested in the stock markets, then you know that one of the secrets to success is investing in a company that has a visionary leadership team behind it. Apple under the leadership of Steve Jobs and his team is testament to this. However, this rule of thumb is not just restricted to the stock markets, it also applies to crypto currencies.
The developer team behind a crypto is a critical indicator of its long-term growth or failure. And on this front, Ethereum (ETH) is at the top! Ethereum founder Vitalik Buterin is described by those around him as a visionary who is ego free and open to any ideas that can make the Ethereum platform better. It is this approach that will help Ethereum handle its key challenges, especially that of scalability, by attracting and testing out different ideas.
This will serve to entrench Ethereum even further in society, and significantly push up its value. If under the leadership of Vitalik, it can manage to solve the issue of scalability, you can bet than it could easily hit $10,000 or even $20,000 in the future.
- It is transitioning to prove-of-stake mining system
The proof-of-work mining algorithm as used by bitcoin, Ethereum and other cryptos is so energy-intensive that’s it’s not tenable in the long-run. This is unlike the prove-of-stake system which is way cheaper, faster and more efficient. Once this is fully adopted by ETH, the increased efficiency will push up its demand, and its valuations will go up. This will be a turning point for Ethereum (ETH) and could easily see it hit $10,000 and above.