The price of Ether could grow to USD 40,000 but the cryptocurrency will need to break some psychological barriers. Bitcoin and Ether will be among the five cryptocurrencies that will reach widespread popularity within ten years.
The price of Ether could hit USD 40,000 in the long term, according to twin brothers Tyler and Cameron Winklevoss. The co-founders of the Gemini exchange forecast a price between USD 5,000 and USD 10,000 by the end of this year.
There is no reliable way to predict the price of Ether beyond the immediate future. However, the Winklevoss have speculated that Ether could have a specific value in the long term.
The Winklevoss Twins Believe that Ether Is Heading for USD 40,000
During the start of this year’s bullish run, the Winklevoss twins believed that Ether was undervalued at USD 1,400. That price was close to the all-time high that the crypto asset had reached in 2017.
After that, the price of Ether hit a new all-time high above USD 4,300 before plummeting to USD 2,000. At the time of writing this article, Ether is trading at around USD 2,670, according to CoinGecko.
According to Tyler and Cameron Winklevoss, a price between USD 5,000 and USD 10,000 would be reasonable for the end of the year. However, they believe that it could grow much more in the long term to reach USD 40,000. They also note that there are psychological barriers that Ether will need to break to reach their prediction.
The Winklevoss brothers spoke about what the biggest threats against Ether are. They argued that people would only change it for another project that was ten times better. Furthermore, they said that Ether has the “great advantage of being the first [crypto asset] to move.”
“There is so much building taking place on Ethereum that everyone wants to go there and eyeballs are there. What needs to happen is scalability and performance, that is, its ability to process many transactions cheaply,” the two executives said.
Tyler and Cameron Winklevoss Also Give Opinions about Ethereum 2.0
The Winklevoss added that Ethereum 2.0 could solve ETH’s scalability problems with the help of current enthusiasm in the market.
They warned that “Ethereum can fall victim to the weight of its own success if transaction fees become too high.”
By buying ETH, investors also acquire part of the projects and protocols built on the network, according to the executives.
The Future of the Price of Bitcoin, Ether, and Other Cryptocurrencies
In the end, the twins reiterated their prediction that the price of Bitcoin (BTC) was targeting USD 500,000. In this regard, the Bitcoin community hopes that they are right.
“The question on our mind is not so much if it reaches USD 500,000 but how fast,” they stated.
“[A price of] USD 500,000 per Bitcoin is really quite conservative even though the game has not even started,” they added.
Many experts predict that three to five cryptocurrencies will reach widespread popularity within ten years. They assure that both Bitcoin and Ether will be among the options for investors.
According to Tyler Winklevoss, “Ethereum will be the backbone of a new type of Internet just as oil is the backbone of today’s society.” These two brother entrepreneurs anticipate that Bitcoin and Ether will reach new all-time highs, thus demonstrating the community’s trust in those crypto assets.
By Alexander Salazar