Home Ethereum Ethereum to take over from bitcoin according to expert | City &...

Ethereum to take over from bitcoin according to expert | City & Business | Finance


Greg Adams, proprietor and managing director at blokt.com, which is a news website that purely covers cryptocurrencies believes Ethereum is the way forward for cryptocurrencyies. 

Mr Adams said: “For the time being, I don’t believe that bitcoin is dead. I do believe, however, that we’ll begin to see a more significant shift in market dominance from bitcoin to other cryptocurrencies throughout 2018.

“As people become more educated on the specifics of each currency, they’ll move their money to projects with the better tech. I can see projects like Ethereum, EOS and ICON picking up steam this year, at the expense of Bitcoin.

“Bitcoin has become a bit of a dinosaur in recent years, and its fate could be similar to that of the Sony Walkman.”

The expert predicts Ethereum will be trading between $2,000 and $3,000 by mid-2018 and between $5,000 and $7,000 by the end of this year. 

Mr Adams said he would be shocked if Ethereum does not take the top spot of cryptocurrencies by the end of 2018. 

One way in which Mr Adams believes Ethereum will become more attractive is through sharding. A shard is a horizontal partition of data in a database or search engine.

Each individual partition is referred to as a shard or database shard. Each shard is held on a separate database server instance, to spread load.

At present, according to CoinMarketCap, bitcoin is valued at $8,595 and Ethereum at $843. 

In order for this prediction to come true, Ethereum must rise as well as bitcoin falling. 

Also it is worth remembering that at the beginning of this year Ripple overtook Ethereum as second most valuable cryptocurrency. 

However, Olga Feldmeier, CEO of Smartvalor, a staunch defender of bitcoin, believes the dominant cryptocurrency could rise to $100,000 this year. 

She said bitcoin is currently experiencing a blimp but the cryptocurrency will bounce back. 

As Ms Feldmeier said: “In short: BTC is going to stay a highly volatile and speculative asset for the next several years.

“Overall trend will be price increase with huge swings and volatility break outs in between.”

Source link