According to many investors, investing in cryptocurrencies is one of the best ways to make a profit these days. As most of us already know, the most popular trading option is Bitcoin, which is a leader in this market and the most valuable asset, with a price of $48,000.
One of the reasons for such popularity is related to the high fluctuation of the prices on this market. Also, traders can be more flexible because there are some other great options available as well, some of whom have an excellent potential to continue growing. The biggest follower of BTC is Ethereum. The current price of this cryptocurrency is around $3,000.
However, if you want to be a successful investor in this market, it is crucial to learn more about the factors that can influence price changes. Therefore, you should keep track of different changes, supply and demand, current regulations, and much more. Also, you should research the predictions, but you should keep in mind that only those predictions shared by experts can be trustworthy. If you want to read more about the Ethereum prediction price, click here.
The main point of these predictions is to use various factors and explain the real potential of some cryptocurrencies and what can we expect from them in the future. Besides the current popularity, some technical features and security are the most important factors. When we are looking at all those different aspects, it seems like Ethereum represents the cryptocurrency that has an excellent potential to continue growing and even surpassing Bitcoin at some moment.
Main Features of ETH
It is also a decentralized blockchain like BTC. Therefore, it can be used for saving information. The main advantage of this unit and what makes it unique is related to smart contracts, which opens many new possibilities for companies and further digitalization processes.
Individuals and businesses can use this feature to sign online agreements that are completely legit and stored in the system, and there is no way that someone could edit those data. When compared to Bitcoin, it provides much more possibilities since you can use it to run systems, activates, and set smart contracts, along with other types of transactions.
Moreover, like BTC, there is also a large community of investors who are already part of this system. In that matter, it has a functional background. Also, besides the current technical features, it allows further improvements and innovations. Besides that, it provides businesses and individuals with the ability to create contracts without the need for any third party to confirm that.
As we already mentioned, the unique technical features are what make this cryptocurrency so popular. Like the most other options available on the market today, it is still bonded with value to Bitcoin and follows its changes on the market. However, it has the potential to form a separate value at some moment, and become much more influential as well. We can notice that it offered a huge chance for profit during 2023 by increasing its value over 5 times during the same year.
The situation continues in 2023, and, according to many experts in this field, it will continue to rise in the next years as well. Some of them are claiming that the value can reach the price of over $10,000 in the next couple of years. Even though it offers some great functional features, there is still a lot of room for improvements as well. That is the main reason why developers are working on an updated system called Ethereum 2.0.
This new system will make this cryptocurrency unique when compared to other options because miners won’t be necessary anymore. Also, it will improve some deficiencies that are currently an issue. The biggest change is related to the new way of confirming transactions. There will be no need anymore to mine new tokens as a way to validate transactions. One of the biggest advantages is that this new system is more sustainable and safer.
Moreover, the processing will be much faster with changes related to the system where resources will be used differently so the whole system can help in faster processing. That will lead to faster transactions, but it will make the transfers more affordable as well. Furthermore, we can notice that many companies are already interested in the integration of this system. Also, it seems like many countries will accept it as well. That will surely have a huge effect on the whole market. In terms of legality and functionality, ETH has much more to offer than BTC.
There is also a comparison of these two systems and their popularity over the years. The interesting fact is that the numbers go in favor of Ethereum in many aspects. Bitcoin is a leader in this market as the first blockchain-based currency. It has established a name and most people will think of it when they hear about crypto. However, ETH is developing even faster. Investing in Ether has increased by almost 15 times in the next few years, which is much higher than BTC’s trading volume.
The Bottom Line
The main problem with predictions is that many of them are shared by large investors with intentions to influence the market. However, there are some clear advantages that Ether is offering, like the solutions that will help businesses to operate effectively in a digital environment. Even though the value is much lower when compared to BTC, investing in it is an excellent option when we look at previous trends since it has an even bigger rise over a short period.
We expect that it will become much more stable and independent after the planned update and introduction of ETH 2.0. This is system is sustainable and we think that both businesses and official institutions will accept it and use it rather than BTC and many other options. Some optimistic predictions say how the value of this cryptocurrency can reach Bitcoin in less than 5 years.