Independent financial consulting company deVere Group, which provides investment and wealth management services, has predicted that the price of Ethereum (ETH) could hit $2,500 by the end of the year, MarketWatch reported April 27.
The financial consultancy firm said that the second largest cryptocurrency could see a significant rise, predicting its fourfold increase thanks to growing adoption of the digital currency as well as the use of smart contracts. Nigel Green, founder and CEO of deVere Group, told MarketWatch:
“The price of Ethereum is predicted to increase significantly this year, and could hit $2,500 by the end of 2018 with a further increase by 2019 and 2020 […] This general upswing will be fueled by three mains drivers. First, more and more platforms are using Ethereum as a means of trading. Second, the increased use of smart contracts by Ethereum. And third, the decentralization of cloud computing.”