The price of the famous cryptocurrency Ethereum is to reach the $500 mark in the near future reaffirming the fact that cryptocurrency is the next big thing in the trade market. The cryptocurrency reached the mark of $483 for the first time in the history and it is expected to go up even further in the coming days.
Well-known Billionaire investor Mike Novogratz is expecting the price of Ether to go up all throughout 2017. It is to be noted that the Ethereum has got good market as it is known as the only public blockchain that can process more transactions than that of the digital currency Bitcoin. It actually processes more transactions than that of Bitcoin and in fact, it processes more than all of the cryptocurrencies like Ripple, Litecoin and Bitcoin Cash put together.
The Ethereum foundation has been working hard to provide for better transaction facilities to the users and has introduced several interesting solutions like plasma, sharding, casper and others. It is also working towards providing on-chain and off-chain scaling that also comes with second layer solutions.
The hard fork upgrade of Ethereum network called the Byzantium came up with increased transaction capacity like that of the SegWit and it is known to have increased 550,000 transactions per day which is considered to be twice as much of Bitcoin. The cryptocurrency value went down after the initial coin offering and the ban imposed by Chinese government to trade crptocurrency but again in mid November it went up to $400 and then reaching $483, an all time high.
Mike Novogratz, a legend in hedge funds, has come out with a statement in his twitter account. He wrote, “ETH looks poised for a move to new highs. Lots of good news on the horizon. #ether #consensys.”
It looks like cryptocurrency is moving up the ladder in a perfect pace.