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According to a poll conducted by the popular comparison site Finder and published in the South China Morning Post (SCMP), various blockchain industry participants expect that the price of two major cryptocurrency, Bitcoin and Ethereum, triple more than expected by the end of the year.
In the survey, nine participants from the block chain industry were asked about the potential price trajectory of the world's 12 major cryptocurrencies. The study interestingly revealed that participants were more optimistic about Ethereum than about Bitcoin, as they expected Ethereum's market capitalization to increase by 212%. The market capitalization of Bitcoin is expected to increase by 194%, while Bitcoin Cash is expected to grow by 123%.
The survey, according to the SCMP, was based on the price levels observed on February 27th. At the time, Bitcoin was above $ 10.00 and Ethereum at $ 870. This means that, according to the respondents, at the end of the year, the price of Ethereum would be $ 2,550. Bitcoin would reach $ 29,533 and Bitcoin Cash $ 2,721
Projections from the survey would mean that Bitcoin and Ethereum would see their value more than triple in nine months, as recent price trends dropped Bitcoin to $ 8,800 at the time of publication. Ethereum is currently trading at $ 670
The expected growth of Ethereum's market capitalization would be due to the applicability of its network and to the growth of initial coin offerings As did Hacked, fundraising ICO reached $ 1.2 billion in February. at $ 2.7 billion.
According to the SCMP, the fall in Ethereum prices is to see investors buy more, so that they can then participate in more ICO. If Oh, vice president at Octagon, a cryptocurrency broker based in Hong Kong, revealed that his company has found an interest in Ethereum, although he revealed that his interest in Bitcoin was still widespread.
He said:
"Bitcoin still represents a disproportionate share of our flows [today]." To put it in perspective, Bitcoin's average daily business figure is still more than three times that of Ethereum. "
Kevin Loo, co-founder and chief strategy officer at CryptAM, a Hong Kong-based digital asset management company, also told the newspaper that he was expecting that Ethereum has a bright future. Loo pointed out that cryptocurrency, just like Bitcoin, is facing scaling problems, although he thinks that these are properly supported.
To prove his point of view, he pointed to the craze of CryptoKitties that temporarily congested the network. He declared:
"For example, in November 2017, the ethereum network experienced a new craze for CryptoKitties, a virtual kitten game that allows players to buy and multiply" crypto This slows down the network and highlights one of the challenges facing old block strings – a lack of scalability. "
Image from Shutterstock to photo
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