Speaking to Yahoo Finance Live, Kaspar noted that the upcoming development to the ethereum network, specifically the shift towards the proof of stake model, will spur the new price rally. She added that the update would see ethereum join bitcoin in the $1 trillion market capitalization category. According to Kaspar:
Ethereum to potentially attract institutions after network update
Additionally, with the network update, ethereum is projected to use less energy, an aspect that Kaspar believes will drive institutional investors to adopt the digital asset. With more institutions potentially taking an interest in ethereum, Kasper added that the price might hit $100,000 in the coming years. In January, Magnetic co-founder claimed that investors were overlooking ethereum’s potential when trading at around $1,200. He predicted that the asset would spike to the mid-$3,000 level. On May 9, ethereum hit an all-time of $3,975. Furthermore, Megan views bitcoin’s ongoing momentum culminating into a high of about $200,000 by the end of the year. By press time, bitcoin was trading at $57,890, according to data provided by CoinMarketCap. [binance]
