BitMine Isn’t Joking When It Predicts Ethereum Price Will Rise to $60,000
The cryptocurrency mining company BitMine Immersion Technologies seriously expects the Ethereum rate to rise to $60,000.
Several research firms believe that the price of ETH will reach $60,000. The coin is currently worth $3,800, Bitmain employees wrote.
If this outrageous forecast turns out to be correct, then buying Ethereum at the current price of $3,793 will allow you to multiply your capital by almost 16 times.
BitMine’s post doesn’t specify how long it will take for ETH to reach $60,000. However, in a video titled «5% Alchemy,» CEO Tom Lee explained why. kriptovalyuta is considered incredibly promising. According to him, the increase in the price of ETH will be due to:
- The growth in the number of stablecoins and tokenized assets issued on the Ethereum network;
- Increased popularity DeFi and programmable financial instruments;
- Gradually reducing the amount of ETH in circulation.
Tom Lee
Ethereum will be able to make a giant leap forward because, as Tom believes, it is “digital oil,” acting as fuel for the engine of progress in the blockchain industry. In this regard, ETH does not compete with Bitcoin, which is considered “digital gold” and is used as a store of value.
Given the high potential of Ethereum, Bitmain management has developed a strategy for investing in cryptocurrency and plans to accumulate 5% of coins in circulation. That is, the company wants to buy 6 million ETH worth $22,9 billion at the current price. Currently, the organization has Ethereums worth $2,7 billion on its balance sheet.
