According to a senior Blockchain entrepreneur and advisor, Ethereum is still set to attain a high price of 71,687 Euros, but only if it adopts the same mechanisms that were used by gold to intergrade as a market store.
The Expected Market Potential
According to Mr. Brian Schuster, a professional in this area, the price of Ethereum could easily rise due to the kind of market volatility that is currently witnessed. When the market potential of the virtual currency is pushed to around $10 trillion, a single coin of this second largest Cryptocurrency could be sold at a price of $100,000.
He arrived at this conclusion when he compared Ethereum to a typical store of value like Stablecoins or gold, but slightly placed it below a typical personal enterprise. He went ahead to state that Ethereum, which has seen a positive adoption over the past few weeks, couldn’t be compared to a single asset. According to Mr. Schuster, this digital coin is actually an asset that can be used to replace all the other currencies that are available today.
Zero Trust to Price Predictions
Speaking further on the matter, Mr. Brian Schuster stated that traders and consumers should not put all their trusts in the predictions of Cryptocurrency prices. He said this while making a reference to the usually hit-or-miss and unpredictable character that this financial market has had for quite some time.
Shuster explained that the reason why many traders and consumers have resolved to use social media platforms to seek certain answers in this market is the fact that the virtual currencies have become very unpredictable and desultory. This explains why even with the momentary increase of the prices of the virtual currencies, many traders and consumers have not been convinced that they can make huge returns from it.
He observed that many people treat these predictions like some gospel, but later make unworthy decisions and end up losing.
What is the Future of Ethereum?
One of the biggest stories that are currently being discussed in the Cryptocurrency circles is what the future has in store for Ethereum. Many are wondering if this fast-rising Cryptocurrency will be able to hit a record high of $100,000. Although Mr. Schuster does not think that will be possible, he says that the best way to have that answer is by studying and understanding the current market cap.
For those who might not be aware of the term, market capitalization is the entire value of the virtual currency and not just the value of one coin. The estimation for Ethereum supply at the moment is at 97 million tokens. But according to this expert, the market cap exceeds just the price and refers much to the digital coin’s total value. Calculating this figure is quite simple and easy: the supply of ETH at the moment is 97 million tokens, and that is what will be multiplied with the current price of each Ethereum token, which is at $950.
Just barely a week ago, the market cap of the entire ETH was estimated at around 65 billion Euros, which translates to around $92 billion.