The Winklevoss twins, co-founders of the Gemini digital asset exchange, have predicted that Ethereum price could hit $ 40,000 in the long run, with a target price of between $ 5,000 and $ 10,000 by the end of the year.

In one interview With SumZero, the Winklevoss twins found that at the start of this year’s bull run, they believed Ethereum was undervalued at $ 1,400, near its previous all-time high of 2015. 2017, while Bitcoin price is three times the previous all-time high .

In particular, the price of Ethereum subsequently rose to a new all-time high of over $ 4,300 before falling to $ 2,000 amid the broader downturn in the crypto market.

The Winklevoss twins agreed with the interviewer that an ETH price of $ 5,000-10,000 by the end of the year is a reasonable range, but noted that it could continue to grow in the long run, and even potentially increase tenfold, along with their BTC price prediction.

It should be noted that the interview took place in mid-May when Ethereum was trading above $ 4,000 and Bitcoin around $ 50,000. The twins have confirmed their previous BTC price prediction of $ 500,000.

However, in their words there are psychological hurdles that ETH will have to overcome in order to achieve its prediction.

During the interview, the two also discussed the biggest threats to Ethereum. They argued that other projects would have to be ten times better for people to change, as ETH has a “huge first mover advantage”.

“There is a lot of work on Ethereum that you would like to participate in. What has to happen is scalability and throughput: the ability to process many transactions cost-effectively. “

Ethereum 2.0, they added, promises to solve ETH’s scalability problems, but given the current excitement in the marketplace, “Ethereum could become a victim for its own success” if transaction fees get too high.

This can mean that some networks are accepted. Since there are multiple operating systems, other Layer 1 protocols can take advantage of the opportunity offered by Ethereum’s high transaction fees. The projects they cited include Solana (SOL) and Tezos (XTZ).

As the owners of the ETH, investors buy part of the projects and protocols based on it. It would be like buying land on which buildings have been built, which would effectively add value.

Annie

According to Cryptoglobe

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