The founder and managing director of the deVere Group, one of the largest financial consultancies in the world, is convinced that the price development of Ether (ETH) can beat market leader Bitcoin for the rest of the year.
Accordingly, Nigel Green also thinks that the Ether price will be even higher than that of its big competitor in a few years’ time.
“Ethereum is currently performing better than Bitcoin, and I assume that this trend will continue for the rest of the year,” said Green in this context.
In fact, Ether has gained a strong 300% so far in the current year, whereas the market-leading crypto currency “only” has 55%. “Ethereum actually beat all comparable financial products in the first half of the year,” as the financial expert states, referring to City AM.
The financial advisor sees two main reasons that serve as the mainspring for Ether’s strong performance. First, if the smart contract platform would have a much more real added value that would make it not only “an interesting network for developers, but also a global financial system”.
Second, Green sees the imminent switch to Ethereum 2.0 as a true “game changer” that not only brings Ether a massive step forward, but also blockchain technology as a whole.
“Ultimately, this will cause it to outperform Bitcoin at some point, probably five years from now.”
However, the DeVere managing director does not want his praise for the (still) runner-up to be understood as a swan song for Bitcoin (BTC), because he is forecasting another record high for the market leader in 2021, which will further improve the 65,000 US dollars from April.
“The rise of Ethereum to number one seems unstoppable.”
At the beginning of June, deVere launched a bond on the Chicago Mercantile Exchange (CME) that tracks futures for Bitcoin and Ether.