As Ethereum passed the $3,000 USD mark to reach its new all-time high, many are theorizing about the future outlook of the quickly rising cryptocurrency. Nigel Green, CEO and founder of deVere Group, is even noting that Ethereum is set to increase its market share and could hit $5,000 USD this week.
“Ether is one of the main beneficiaries in the wider explosion in the cryptocurrency market,” said Green. “The boom over recent months has been fueled by soaring interest from major institutional investors and growing recognition that borderless digital currencies are the future of money. This momentum is likely to build further in the near-term and I believe Ether will hit $5,000 within seven days.
Green’s confidence behind what is currently the second-largest cryptocurrency behind Bitcoin is his belief that it is a more scalable digital currency and built around more advanced blockchain technology. Increasing 321 percent in the last year, Ethereum has been steadily edging towards the level of business and mainstream acceptance Bitcoin has already seen.
Nigel Green adds, “Ethereum is already years ahead of Bitcoin in everything but price and fame. There’s a real sense that 2021 is the year for Ether. Its time has come.”
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