Get Ready, Cuan! Ethereum Price Will Penetrate Up To IDR 72 Million
JAKARTA - The price of Ethereum (ETH) has continued to increase quite high in the last few days. This positive trend is predicted to continue its increase in the foreseeable future.
On Tuesday, May 4 yesterday, ETH was trading at 3,457 US dollars per coin. Ethereum has increased by 360 percent from the previous year. Even though Ethereum's progress is still behind Bitcoin (BTC), the crypto currency developed by Vitalik Buterin is predicted to continue to catch up with BTC's value.
This cryptocurrency with the second largest market cap has skyrocketing popularity among crypto enthusiasts, in addition to BTC, XRP, and DOGE.
The increase in the price of Ether is due to the European Investment Bank (EIB) which plans to issue digital bonds using the Ethereum blockchain protocol. Ether is not a currency like Bitcoin. ETH is a decentralized network for application development.
“When people compare Bitcoin to Ethereum, it's like comparing gold to electricity. Both are valuable but have very different uses, ”said Alex Adelmen, quoted from USNews, Wednesday, May 5.
“Ethereum is infrastructure. This is a blockchain that existed in the early days but has the potential to revolutionize finance and technology, "he added.
Based on a report from Bloomberg, the EIB bonds to be issued are worth 100 billion Euros with selling agents, namely, Goldman Sachs, Societe Generale, and Banco Santander.
According to Nigel Green, CEO and founder of deVere Group, a financial advisory company, predicts that now is the time for Ethereum to thrive. The market reach is predicted to increase in size.
Green predicts that the price of Ethereum will continue to increase to surpass US $ 5,000, around IDR 72 million per ETH in the coming days.
“The surge in prices in recent months has been triggered by the growing interest of institutional investors as well as the growing acceptance that cryptocurrencies are the money of the future. "This momentum will continue in the near future, I believe Ether will reach 5,000 US dollars per ETH in seven days," Green forecast was quoted by Fortune, Tuesday, May 4.