Analyst Predicts Ethereum Price at $80,000
Efirium is approaching a new all-time high. The leading altcoin is currently hovering around $4730, just 3% below its all-time high of $4891 set on November 16, 2021.
Second in terms of capitalization over the past year kriptovalyuta has grown by more than 80% thanks to investor confidence and the growing number of use cases in the blockchain space.
That’s probably why BitMine Chairman Tom Lee recently raised his Ethereum price target from $10,000 to $16,000, and Etherealize CEO Vivek Raman went even further. He believes that ETH could become a key part of the world’s financial and non-financial infrastructure, the “digital oil” that powers global transactions. He believes that the asset’s market cap could reach $10 trillion, which would mean it would rise to $80,000.
According to Raman, the market often underestimates Ethereum’s potential due to past failures, including the collapse of the FTX exchange (what’s the connection). However, he argues that the role of altcoins for new digital economies will only grow.
Interestingly, some Bitcoin mining companies are already shifting their focus to Ethereum. This shows their confidence that in the future Altcoyin will dominate on par with Bitcoin or even surpass it.
