Today, Ethereum Price has reached close to touching the $750 value in the wake of Reddit co-founder’s more bullish sentiment towards Ethereum than Bitcoin as he believes it would reach $15,000 price level by the end of this year. In the meantime, Ethereum is awaiting US regulator’s decision on whether it should be regulated as a security or not.
Alexis Ohanian predicts Ethereum to hit the $15k price level
Ethereum didn’t start last month on the best foot for sure, what with its price dropping down to $370 level. However, the second largest cryptocurrency is back in the game as it is just a touch away from closing on to $750. With the market cap of over $73 billion, ETH is registering solid gains.
At the beginning of April, ETH was riding at $395 which has jumped about 88 percent and reached $743 today. Looks like after a bearish start, Ethereum is gaining the bullish momentum, though if this trend will continue is yet to be seen.
However, $1,200 has been the highest peak of ETH prices which is still a long way to go. Though with the pace Ethereum is going, this value can be expected in the near future.
One individual, however, does seem to believe in Ethereum’s capability and predicts its price to rise to $15,000 level by the end of this year. Alexis Ohanian, the Reddit co-founder just recently said that Ethereum has far more potential than any other cryptocurrencies as it provides the flexibility to build blockchain applications. This in turn, in his opinion means it would rise faster than the most popular and valued cryptocurrency Bitcoin.
“I still hold a little bit of Bitcoin, and I think it has such mindshare that it will continue to be a store of value. I’m most bullish about Ethereum simply because people are actually building on it. At the end of the year, Bitcoin will be at $20,000. And Ethereum will be at $15,000. Great, now people can call me out if I’m wrong.”
Meanwhile, SEC and CFTC’s decides if ETH should be regulated or not
Ethereum price took a rise amidst the US regulator’s SEC and CFTC scrutiny that is currently discussing if Ether is a security or not. Moreover, the regulators also believe that the initial sale of Ether in 2014 was an illegal security sale and now working out if the tokens should be registered with the agency.
Though the co-founder of Ethereum Joseph Lubin doesn’t seem much concerned about it all as he states Ether is not a security and doesn’t need to be regulated.
Ethereum has certainly a lot going for it as the Chief Technology Officer at Reddit, Chris Slowe mentioned the possibility of accepting Ethereum payments:
“We have been looking at other cryptocurrencies. As a matter of fact, that was part of the issue with the high fees on the bitcoin network. We are looking at Ethereum and Litecoin that are both provided by Coinbase.”
Ethereum has certainly crossed the barrier of $700 which is a positive thing for ETH as it didn’t find the support above this level at the beginning of this year. Also, it doesn’t look like ETH is slowing down despite undergoing regulator’s scrutiny.
Do you think Ethereum price will hit the $15,000 price level? Share your thoughts with us!
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A computer science engineer, I have been adamantly following the blockchain and cryptocurrency industry for the past 2 years. A crypto enthusiast and hardcore blockchain follower. Reach out to him at [email protected]