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Here are some key takeaways from the forecasts.
Price predictions for Bitcoin:
- According to Finder, Bitcoin would culminate at $107,484 in 2021, before capping off at $94,967. The Finder panel expects Bitcoin to jump to an average of $3, 60,179 by 2025.
- The Standard Chartered research team’s prediction is that Bitcoin’s price would increase to thrice the current value, taking it to the range of $50, 000 – $1,75,000 per BTC.
- About 49 percent of Finder’s panel think it’s the right time to buy BTC, while 39 percent plan to hold off, and 12 percent want to sell them.
Price predictions of Ethereum:
- Finder panellists forecasted that the Ethereum price would peak at $4, 512 by the year end.
- The panel expects Ethereum to reach $19,842 on average by 2025.
- Panelists including Joseph Raczynski, technologist at Thomson Reuters and Joel Kruger of LMAX group, believe that the ongoing upgrades in Ethereum and its intrinsic potential will inevitably boost its valuation and innovations hosted on it’s network. Standard Chartered also believed that the ongoing upgrade would improve Ethereum’s functionality and efficiency.
- 59 percent of the panel said it was the right time to buy Ethereum, while 28 percent advised investors to hold off their investments.
- Standard Chartered prophesied that Ethereum will shoot up 10 times in a price range of $26, 000- $35,000 per ether.
- The Standard Chartered team even expects Ether to outdo Bitcoin and its returns to overgrow Bitcoin with increased risks.
Further, 51 percent of the Finder research panel predicted that Ethereum would be the most transacted cryptocurrency in 2022, and 49 percent believed Bitcoin would lead. Moreover, 70 percent of panelists believed that Ethereum’s usage will grow owing to a spurt in the sale of DeFi and NFTs.
Though the analysts believe that Ethereum can outshine Bitcoin, they pointed out two major threats to Ethereum.
- A majority of the Finder panel, 55 percent to be precise, think that the ownership of the 70 percent ethers by whale investors is a moderate risk to the cryptocurrency, while 24 percent consider it a huge risk.
- The emerging and growing smart contract blockchains are believed to be a risk to Ethereum according to 62 percent Finder panelists, while 32 percent consider those blockchains to succeed independently or growing as Ethereum’s complementary.
Top cryptocurrencies in long term and short term:
- Long term -The top lucrative altcoins projected by the panellists were Polkadot (DOT); 7 percent said Bitcoin cash is a preferred choice for long-term purchase.
- Short term – The most popular altcoins were Binance Coin (BNB), Cardano (ADA) and Polkadot (DOT). The least popular ones were Bitcoin Cash (BCH) and Klaytn (KLAY).
Commenting on the different capabilities of Ethereum, Geoffery Kendrick, Head crypto research at Standard Chartered, said that Ethereum works like a financial market that facilitates lending, insurance and exchanges, while Bitcoin is almost like a currency. Raczynski said that Ethereum is an ecosystem that has transforming perspectives for all the industries, whereas Bitcoin is now a household name.
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