Ether’s price could rise more than sevenfold to $ 10,500 after hitting a new high this week. This opinion was expressed by the strategist of Fundstrat Global Advisors LLC David Greider.
He bases his prediction on the popularity of decentralized finance applications, most of which operate on the Ethereum blockchain. He also notes the progress in the transition of Ethereum to a new version of the protocol, which will allow him to approach the bandwidth of Visa and Mastercard.
According to Greider, ether has the best risk/reward ratio in the entire cryptocurrency industry at the moment, and blockchain computing has the potential to become the future of cloud services. At the same time, he highlights the risks of possible difficulties with updating the network or the transition of the cryptocurrency market to a bearish phase.
ETH today has pulled back 10% and, according to some opinions, pulled Bitcoin with it. At the same time, analysts admit that it is able to resume the rise after the completion of the primary profit-taking phase near the previous all-time high above $ 1,400.
Earlier, investor Spencer Noon pointed out 11 metrics that can support the growth of the ETH rate in the long term.
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