Gemini founders Cameron and Tyler Winklevoss projected the price of Ethereum, the second-largest Cryptocurrency, in a recent podcast and exclusive conversation with SUMZERO CEO Divya Narendra. While referring to ETHEREUM as “digital oil.“
Where will ETH Price go by the end of the year?
They claimed that the price of Ethereum was $1400 just 3 to 4 years ago, when they believed it was undervalued because it was an all-time high at the time, while bitcoin had already rallied by 3x from its previous all-time high in 2017. In terms of the current state of affairs, he considers bitcoin to be BORING and Ethereum to be UNDERVALUED.
The Winklelovss twins seem to agree with Divya Narendra’s $5k to $10k range target for Ethereum Price in July, saying that the price target of $5k to $10k appears nice and realistic for Ethereum towards the end of the year.
While bitcoin and Ethereum are both fantastic products, they believe ETHER is particularly hot right now, with much of the attention focused on it. He recalls how, during the first half of the pandemic, when there was inflation, a huge number of individuals were focused on bitcoin. They believe it will return, but this time ether will be in the spotlight as well, stating that both coins have a bright future ahead of them.
The Winklevoss twins also identified Ethereum’s major dangers throughout the conversation. They claimed that for people to switch to another project, it would have to be ten times better than ETH. They went on to say that Ethereum 2.0 promises to tackle ETH’s scalability issues, but that given the present market fervor, “Ethereum could succumb to the weight of its own success” if transaction fees get too high. Solana (SOL) and Tezos are two of the projects they mentioned (XTZ) which could take advantage of ETHs high gas fees.
While most of the cryptocurrencies were trading mixed Ethereum was trading at $2,814.45.