Bitcoin could be left in the dust by Ethereum in 2021

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Bitcoin and cryptocurrency prices have seen a remarkable rally over the past week, invigorating a tired crypto market.

The price of bitcoin has risen nearly 30% over the past week, and ethereum has climbed over 20% (subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and learn about crypto blockbusters ready to win 1 000%).

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Now, a panel of crypto experts has predicted that the price of Ethereum could double to $ 4,600 by the end of 2021, an increase that would eclipse the panel’s bitcoin price prediction.

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“Ethereum’s price largely follows bitcoin’s halving cycles, although this relationship may start to decouple over time, and as Ethereum continues to develop use cases that bitcoin does. can’t achieve, ”said Daniel Polotsky, panel member, founder of crypto ATM operator CoinFlip. “Its price may increase at a faster rate than that of bitcoin.”

Many panelists pointed to the long-awaited Ethereum upgrades, designed to improve Ethereum’s scalability and efficiency, which began in late 2020 as the reason for their bullish outlook.

Earlier this year, Ethereum co-founder Vitalik Buterin said upgrades that destroy (or “burn”) ether tokens could mean Ethereum becomes “louder” than bitcoin.

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Ethereum’s move to proof-of-stake later this year or early 2022 will deflate Ethereum’s supply and amount to several bitcoin halves [cuts to bitcoin’s supply of new tokens] in terms of restricting supply, ”said Forrest Przybysz, senior cryptocurrency analyst at Token Metrics, who believes Ethereum will be worth $ 8,000 by the end of the year.

“This will make it a better store of value than bitcoin on top of all the usefulness it provides that bitcoin does not have.”

The panel average of 42 senior cryptocurrency scholars and scholars, assembled by personal finance comparison site Finder, predicted that Ethereum could be worth $ 4,596 by the end of 2021. Longer term, the panel predicted that Ethereum could reach $ 17,810 by the end of 2025 and $ 71,763. by the end of 2030, when 68% of the panel say Ethereum will eventually overtake bitcoin.

Earlier this month, the Finder panel predicted that bitcoin will overtake the US dollar as the dominant form of global finance by 2050, bringing the price of bitcoin to just over $ 66,000 by then. end of 2021.

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MORE FROM FORBESCrypto Price Prediction: Bitcoin ‘To Surpass’ The Dollar By 2050 And Soar To $ 66,000 By End Of 2021 By Billy Bambrough

The price of ethereum has climbed over 600% in the past 12 months, soaring with bitcoin … [+] and other major cryptocurrencies in late 2020 before peaking around April and May.

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Some panelists were even more optimistic about Ethereum’s prospects with both the chief executive of crypto brokerage firm Morpher, Martin Frhler, and the head of blockchain for the fantasy football market RealFevr, Pedro Febrero, predicting that ‘Ethereum will surpass $ 10,000 by December 2021.

“Ethereum has the potential to power the future global financial infrastructure,” Frhler said.

However, not all panelists are optimistic about Ethereum’s prospects. John Hawkins, a senior lecturer at the University of Canberra, estimates the price of Ethereum at $ 1,200 by the end of 2021, less than half of its current $ 2,200.

“I think Ethereum is a speculative bubble and it will be driven by bitcoin,” Hawkins said.

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