Business analyst and influential tech expert believe that the art world will help push prices of Ethereum. The cryptocurrency could reach $500 by the end of this year.
Ethereum (ETH) Price Today – ETH / USD
The comments from Thomas Crown Art, Ian Mcleod, the world’s leading art-tech agency that was established with Stephen Howes, a renowned art dealer, comes as the second largest digital currency could not break the $208 and $210 resistance levels against the USD.
“Ethereum’s price has been in bear territory for a few weeks, with prices declining dramatically.
“But it can be expected there will be a trend reversal between now and the end of the year. Once back in bull territory, there will be a dramatic upswing with considerable gains.
“It would be reasonable to believe that Ethereum will hit $500 by the end of 2018 and go on an overall upward trajectory throughout 2019.”
He also says that a lot of the expected price rises will be pushed by an increasing number of industries including antiques, real estate, finance, using the superior Blockchain technology of Ethereum and the currency itself.
The Potential in the art world
Mcleod spoke about the potential in the art world when it comes to crypto. He said,
“The art world is likely to be one of the biggest adopters as blockchain can authenticate artwork. It’s an ideal use-case for distributed ledger technology as it offers the ability to store a permanent, immutable record of artwork at the point of creation which can be used to authenticate registered works by any party.”
He says that Ethereum is not only a fundamentally strong digital asset, but its Blockchain offers a workable and tangible solution for so many industries. It solves various problems while enhancing the existing systems.
A month ago, Mcleod told the mainstream media that we could expect BTC to lose close to fifty percent of its digital market share to Eth, the closest rival within the next five years.
“Ethereum is already light years ahead of Bitcoin in everything but price – and this gap will become increasingly apparent as more and more investors jump into crypto.”