Abra’s CEO predicted that the price of Ether could reach $40,000. He is more optimistic about Ethereum than about Bitcoin. “The use cases are off the charts,” the executive said.
Abra CEO Predicts Ethereum Price
The CEO of cryptocurrency trading platform Abra, Bill Barhydt, shared his thoughts on why he is more optimistic about Ethereum than Bitcoin in an interview with CNBC on Friday. He also predicts that the price of Ether (ETH) could reach $40,000, which is well above the current price of the cryptocurrency.
Barhydt explained: “The network effect of Ethereum is based on the idea that it can become the computers of the whole world. It is used for stablecoins, NFTs. [non-fungible tokens]defi [decentralized finance] … and games right now.”
The CEO expects that “as rates approach” there will be “a massive influx of people trying to hold on to Ethereum.” Comparing the network effects of Ethereum to Bitcoin, he opined:
The network effects for Ethereum in the short term are actually more optimistic for me due to the use cases that are just starting to play out.
He continued: “If gas fees and transaction fees go down, which is what proof of stake promises, be careful, because now all the hurdles associated with these network effects have been removed.”
However, the chief executive warned: “We may have a small news selling effect after the initial rush happens with an update in June or July – whenever that happens, an upgrade to proof of stake – so you could see some kind of pullback.” news”.
However, Barhydt said without naming a specific time frame:
I think you are talking about $30,000 to $40,000 worth of Ethereum.
He opined, “This is deflation. The use cases are off the charts. In my opinion, all the stars are now lining up for Ethereum.”
Meanwhile, Finder.com’s group of fintech experts is less optimistic than Abra’s CEO. The group previously predicted that ETH would hit $50,788 by 2030. This estimate has been reduced to $26,338. At the time of writing, ETH is trading at $2,518 based on data from Bitcoin.com Markets.
Tags in this story Abra, Abra CEO, Bullish Ethereum, ETH, Ethereum, Ethereum, Bullish Ethereum, Ethereum Price, Ethereum Price Prediction, Ethereum Price Prediction, Ethereum Upgrade, Proof-of-Stake
What do you think of Barhydt’s Ethereum Price Prediction? Let us know in the comments below.
Kevin Helms
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