According to Greg Adams who is the proprietor of blokt.com 2018 would be pretty good for cryptocurrencies. He, however, adds that he does not expect Bitcoin to outperform in 2018. He thinks that going forward, Ethereum might be able to provide the best return.
He further adds that he does not believe that Bitcoin would actually die down. Rather he believes that it would stagnate at the present levels.
According to him, there are many other projects which can easily gather steam this year. One of them being Ethereum.
He further added that Bitcoin is actually a pretty old cryptocurrency. There are many other cryptocurrencies which are technologically more advanced as compared to Bitcoin. He believes that the value of Ethereum would go to around $ 3000 by the middle of 2018 and it would go to around $ 7000 by the end of this year.
With the help of new technologies which are being developed on the Ethereum platform, the value of Ethereum would surely rise in the future.
Developing a platform:
Ethereum is much more than a cryptocurrency, unlike Bitcoin. Ethereum is actually a platform which is used by plenty of ICO’s as well as other companies. Moreover, many Fortune 500 companies are trying to use and develop applications related to the Ethereum blockchain.
The usage of smart contract mechanism is also boosting the value of Ethereum. This is one of the main reasons why the potential in Ethereum is pretty huge.
Currently, Ethereum is trading around $ 843 and Bitcoin is trading around $ 8600. The gap in marketcap is also pretty huge.
One thing however which needs to be understood pretty well is that Ethereum is not the pioneer when it comes to cryptocurrency. That is why many of the cryptocurrency enthusiasts think that Ethereum might not be able to eclipse Bitcoin. Also, the projections of Bitcoin are pretty rosy in 2018. Many of the enthusiasts think that Bitcoin would get around $ 50,000. If indeed that happens, the market cap of Bitcoin would still be higher than Ethereum.
One thing which is for sure is that most of the experts are predicting that the upcoming year would be pretty interesting for cryptocurrencies. They are also predicting that the return which most of the cryptocurrencies would give would be astronomical as well. It remains to be seen whether such returns are possible in 2018 or whether the cryptocurrency market remains subdued.
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