Analyst Predicts Ethereum Will Hit A Record Price Of $2,500 In 2018

According to Nigel Green who is the founder and CEO of deVere Group, 2018 is definitely a year for Ethereum. As he stated in an email to MarketWatch, he believes that the Ethereum price could rise to $2,500 and set new records this year.

His full statement was the following:

“The price of Ethereum is predicted to increase significantly this year, and could hit $2,500 by the end of 2018 with a further increase by 2019 and 2020,”

Meanwhile, Green’s company specializes in financial consulting. As he pointed, there are three factors at work for the potential upswing of the Ethereum price. The first one is the fact that more and more ETH platforms are used for trading. Second is the fact that Ethereum contracts are expanding. Last but not the least, according to him, is the decentralization of cloud computing bodies well for Ethereum.

As Green observed, regulation in the cryptocurrency sector is inevitable. This points to greater investor protection and long-term market confidence. In times when Ethereum is among the leading digital currencies of choice for new token issuers, it has a massive potential.

According to him, 20% of all financial firms are now considering trading digital currencies in the 12 months. He pointed out that the results were taken from a new Thomson Reuters survey which was covered on DC Forecasts last week.

Currently, the Ethereum price is $688.92 with a market cap of $68.30 billion. Even though the cryptocurrency measured a 9% decline last week, it is slowly coming back to feet and contributing to the rise of the market cap of $430 billion.

Green also pointed to another key reason for an upcoming rally. As he said, “there is a growing awareness of the need and demand for digital, global currencies in a digitalized and globalized world”.