08 Sep Standard Chartered is more optimistic about Ether than Bitcoin, with a $ 35,000 price prediction
bitcoin ethereum price prediction :- A $35,000 price prediction for Ether is more bullish than bitcoin, according to Standard and Poor’s (S&P).BTC (Bitcoin) and ETH (Ethereum) are considered bullish by the British bank, but the latter is considered more optimistic.
According to Standard Chartered’s global research team led by Geoffrey Kendrick, Ethereum is more like a “financial market” in which transactions such as lending, insurance, and exchanges can operate. A “currency,” on the other hand, is more like Bitcoin, according to the researchers. Standard Chartered believes that Ethereum’s total market capitalization will eventually catch up to Bitcoin’s due to the fact that Ethereum has a broader range of applications than Bitcoin.
The bank values bitcoin at $50,000-$175,000 over the long term, and ether at $26,000-$35,000 over the same period. Ether would need to trade at $175,000 before it could reach that level, according to the team.
Coinmarketcap.com reports that bitcoin is currently trading around $51,250, while ether is trading around $3.750. Bitcoin is therefore expected to increase by three times its current value, while ether is expected to increase three times.
Currency and financial market comparisons
The Standard Chartered global research team led by Geoffrey Kendrick believes Ethereum is more like a “financial market” where transactions like lending, insurance, and exchanges can take place, rather than a cryptocurrency. In contrast, Bitcoin resembles a “currency,” according to the researchers. Hence, Standard Chartered believes that Ethereum’s total market capitalization will catch up to Bitcoin’s over time, due to its broader use cases.
Over the long term, the bank values bitcoin at $50,000-$175,000 and ether at $26,000-$35,000, respectively. Bitcoin, however, must first trade at $175,000 in order for ether to reach that level, according to the team.
According to The Block’s Data Dashboard, bitcoin is currently trading at about $51,250 and ether is trading at about $3,750. Accordingly, Standard Chartered expects bitcoin to increase by three times its current value and ether to increase by ten times its current value in the near future.
In order to arrive at the valuation, Standard Chartered looked at credit card market capitalization and potential transactions in the unbanked sector. The value of ether was determined by comparing the value of global banks to the value of global credit-card companies.
Bitcoin ethereum price prediction
Even though Ether’s price prediction may seem high in comparison to its current price, the bank believes that “the current price reflects both the relative complexity of ETH (compared to BTC) and the uncertainty surrounding ETH’s development.”
While ETH’s potential returns may be higher than BTC’s, the bank warns that the risks are also higher.
A proof-of-stake model is being implemented in Ethereum 2.0. As soon as the transition is complete, Standard Chartered says, its functionality and scalability will increase even more.
All of this information is being released in advance of the official start-up of Standard Chartered Crypto Trading, which will target institutional and corporate clients throughout Europe. It was announced that the bank hoped to launch the system in the fourth quarter of 2018.
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