Fundstrat Global Advisors announced that the Ethereum (ETH) price could rise up to $ 10,500. An eightfold increase in Ether price is required for this prediction to be correct.
Ethereum price surpassed $ 1,420, refreshing the price record. David Grider of the Fundstrat Global Advisors team doesn’t think it reflects the potential of ethereum. Anticipating an increase of 700 percent, Grider explains this forecast with the decentralized application (DeFi) sector.
‘Risk earning ratio is the best cryptocurrency’
Fundstrat analysts prepared a new report on Tuesday. According to the Bloomberg report, ether was introduced as “the best cryptocurrency with risk / earnings ratio” in this report. Its technology is thought to be what makes Ether superior to other cryptocurrencies.
Stating that the future of cloud technology “may lie in blockchain”, the expert team is of the opinion that ethereum can adapt to this trend. Ethereum provides the groundwork for the $ 23 billion DeFi world. It is thought that these projects, which decentralize traditional financial institutions and processes, can contribute to ether.
The price can go up to $ 10,500
The Fundstrat team’s forecast for the future is that the price of ether could rise eight times to $ 10,500. It was stated that the thing that could raise the price of Ether will be technological updates as well as DeFi.
The expert team is waiting to fix the current problems in the ethereum network with the updates to be made on the network. It is thought that this is how the Ethereum network can adapt to increasingly complex and growing demands. It was emphasized that the inadequacy of these updates may adversely affect the ether price.