Abra’s CEO has predicted that the price of ether could reach $40,000. He’s more bullish on Ethereum than Bitcoin. “The use cases are through the roof,” said the executive.
Abra’s CEO Predicts Ethereum Price
In an interview on Friday with CNBC, Bill Barhydt (CEO of Abra), shared why he believes Ethereum is better than Bitcoin. He also predicts that the price of ether (ETH) could reach $40,000, a significant increase from the cryptocurrency’s current price.
Barhydt explained, “Ethereum’s network effect is based on this idea that it could become the world’s computers. It’s being used for stablecoins, NFTs [non-fungible tokens], defi [decentralized finance] … and gaming now.”
The CEO expects that “with staking coming,” there will be “a massive influx of people trying to hold ethereum.” Comparing the network effects of Ethereum to Bitcoin, he opined:
I find the current use cases for Ethereum to be more encouraging than the long-term network effects.
He continued: “If the gas fees and the transaction fees come down, which is the promise of the proof-of-stake, look out, because now all of the impediments of those network effects are taken out of the way.”
However, the executive warned: “We may have a bit of a sell-the-news effect after the initial rush to stake happens with the upgrade in June or July — whenever it happens, the upgrade to proof-of-stake — so you may see kind of sell-the-news pullback.”
Barhydt did not mention a time period.
I think you are talking potentially $30,000 – $40,000 ethereum.
He opined: “It’s deflationary. These are the most popular use cases. It’s just all the stars are lining up for ethereum in my opinion right now.”
Finder.com’s panel of experts in fintech is more cautious than Abra CEO. This panel had previously forecast that ETH will reach $50,788 before 2030. This estimate was now reduced to $26,338. According to data from Bitcoin.com Markets. ETH traded at $25,518 at the time this article was written.
What do you think about Barhydt’s ethereum price prediction? Comment below to let us know your thoughts.
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