The CEO of Abra predicted that the price of ether could reach $40,000. He is more bullish on Ethereum than Bitcoin. “Use cases are through the roof,” the exec said.
Abra CEO predicts Ethereum price
The CEO of crypto trading platform Abra, Bill Barhydt, shared his thoughts on why he’s more optimistic about Ethereum than Bitcoin in an interview with CNBC on Friday. It also predicts that the price of ether (ETH) could reach $40,000, a significant increase from the current price of the cryptocurrency.
Barhydt explained, “The network effect of Ethereum is based on this idea that it could become the computers of the world. It is used for stablecoins, NFTs [non-fungible tokens]challenge [decentralized finance] …and games now.
The CEO expects that “with the upcoming staking” there will be “a massive influx of people trying to hold Ethereum.” Comparing the network effects of Ethereum to Bitcoin, he said:
The network effects for Ethereum in the short term are actually more optimistic to me due to the use cases that are just beginning to unfold.
He continued, “If gas fees and transaction fees go down, which is the Proof of Stake promise, pay attention, because now all the hurdles of those network effects are removed.”
However, the exec warned: “We might have a bit of a sell-off effect after the initial rush to join with the upgrade in June or July – whenever that happens, the upgrade to proof participation – so you may see some sort of pullback in the sale of the news.
Nonetheless, Barhydt said without mentioning a specific timeframe:
I think you are talking about potentially $30,000 to $40,000 Ethereum.
He said: “It’s deflationary. The use cases are through the roof. It’s just that all the stars are lining up for Ethereum in my opinion right now.
Meanwhile, a panel of fintech experts at Finder.com are less optimistic than Abra’s CEO. The panel had previously predicted that ETH would reach $50,788 by 2030. This estimate has been lowered to $26,338. At the time of writing, ETH is trading at $2,518 based on data from Bitcoin.com Markets.
What do you think of Barhydt’s ethereum price prediction? Let us know in the comments section below.
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