From its all-time high of almost $ 1,500 Ethereum has fallen by almost 85 percent. For comparison, Bitcoin has fallen from its peak of 20,000 dollars by only about 50 percent.
ETH is far from “dead” – however, the relatively dark course development has raised in the last few months, the question of whether the Cryptocurrency will ever be recorded again similar gains as of 2017 and 2018.
According to Chris Burniske of Placeholder Capital that is definitely possible.
Ethereum could reach in the coming years, a $7,500
The co-author of the industry primer “Crypto-asset” believes that If Bitcoin exceeds in the “next cycle” $ 50,000, and ETH to all-time high returns, “is expected to ETH over 7,500 $”.
An increase to $ 7,500 would equate to a profit of more than 3,000 percent compared to the current price of 235 dollars.
Twitter Tweets unlock always
For Burniske, however, this is more than a hypothetical scenario.
He writes in the Twitter Thread, that it is almost inevitable that Bitcoin breaks $ 50,000, and ETH, a new all-time high.
The knowledge of the main streams that Ethereum is the next big thing, the “New Kid on the Block”, will also lead to a “Investitionswut,” explains Burniske. Presumably, the Investor says that each of the “Why” and “What” of Bitcoin, but the same applies to Ethereum.
A perfect example of the following table about the worldwide search interest in Google users had in the last five years the terms “Bitcoin” and “Ethereum” is. There are about one order of magnitude more searches for “Bitcoin” than “Ethereum”, as shown in the graph – and this suggests that the influence of ETH is still minimal.
Burniskes optimism with regard to the two leading crypto-currencies due to the ongoing pandemic and its possible impact on the functioning of the world.
The venture capitalists believe that “new technologies upgrade, when the old systems collapse, and often it takes a crisis to the shortcomings of the old system completely uncover”.
He is referring, probably, to the growing sentiment that, to the extent that COVID-19 devastated the world economy, individual people start to lose trust in traditional institutions and systems – as money is printed, companies are collapsing, and governments in a manner that does not satisfy all.
DeFi supports the ETH-cops-case enormously
The feeling that Ethereum needs to reach a new all-time high, supported by decentralised Finance.
Ryan Selkis, for example, the chief of the crypto-researcher and data suppliers Messari, is of the view that the introduction of decentralised Finance ETH in the long term, a greater potential to get as 2017/2018.