Ethereum Going to $10,000 and Overtaking Bitcoin as the Leader in Cryptocurrency
The question on everyone's mind is "Where will Ethereum be in a year?" Well, according to the creator of Ethereum, Vitalik Buterin, it could go as high as $10k and overtake bitcoin as the leader in cryptocurrency.
Ethereum has seen some major success this past year with its price skyrocketing up over 2000% from just under $300 per token last year to now nearly having broken past $4,000 per token.
Of course, there are various factors that will affect the ability for Ethereum to continue increasing.
The first factor, oddly enough is determined actually by the value of bitcoin itself, since Ethereum's trading pairs are usually with bitcoin. However, as more traders and investors especially start to understand that ETH is stronger than BTC, the tide will change.
The second major factor to consider is that the ERC-20 technology that Ethereum uses for their tokens to have the proper infrastructure within the ecosystem is also much more centralized than bitcoin, where it's not based on a single protocol.
The third thing to consider with ETH going at this rate and potentially having a chance of taking over, is the massive environmental issues going on with BTC.
Ethereum and bitcoin both have their own pros and cons, but it's becoming more apparent with the Ethereum community that they want to be a bit greener.
Combine all three of these factors together in one package and you get an ETH token overtaking BTC as top dog within cryptocurrency markets for 2021/2022 latest!
Ethereum in 2021 could be a coin worth over $10,000 per token which would give the investor community the confidence that it'll continue growing.
The year 2021 has seen major cryptocurrencies like bitcoin and Ethereum skyrocket in value.
As always with crypto investing, only put money into it that you're willing to part ways with because unlike traditional investments there's no guarantee of getting those funds back if something bad happens-particularly when dealing with new technology.
Ethereum still has plenty of room for growth but will eventually hit its ceiling where its price would need to stabilize before moving up again at all or going down from here on out. On top of this, we recommend that it could very well be time for investors to start diversifying their portfolios by looking towards other altcoins such as OXT, NEO, and Stellar.
How To Buy Ethereum
If you want to buy Ethereum, you first have to have a place to store it. There are three options:
- Buying and storing Ethereum on an exchange like Coinbase
- Buying Ethereum on an exchange like Kraken
- Creating a digital wallet and buying Ethereum directly through the blockchain
If you're looking to buy right now, we recommend Coinbase.
Next Step: Managing Your Crypto Wallet
You want to ensure you have the right Crypto wallet. Storing your Ethereum offline with something called a hardware wallet which is basically just another type of software wallet that's more secure than other types because it stores the data on an external hard drive instead of online somewhere
- If you're looking to store your crypto long term, we recommend a hardware wallet such as the Ledger Nano S or Trezor
Of course, there are easier options as well like:
- Storing your Ethereum in a wallet you control, like MyEtherWallet or Mist( ETH Wallet)
There are two different types of crypto wallets. One is a hot wallet, which needs to be connected to the internet in order for you to send and receive funds. The other type of digital asset storage device is called cold storage, or an offline wallet.
- It's best not to store your cryptocurrency on exchanges because there have been cases where people lost their money!
How To Sell Ethereum
There are a few key points you want to keep in mind when you are about to sell your Ethereum:
- Make sure you are having a good day with the market. If not, it might be best to hold on for better times
- Consider your sell order size: There is no need to rush or put all of your Ethereum up at once, and if you can afford to HODL, go for it!
- Know how much you can afford to lose before buying back in because this will help
Conclusion
Ethereum will overtake Bitcoin as the most valuable currency on the market because Ethereum is made for more than just transferring money back and forth like bitcoin can be used from buying goods at stores online or even investing in ICOs which are initial coin offerings that people use to raise funds for their new crypto projects.
Furthermore, with NFTs and ERC-20 being the main technology used for all ICOs, Ethereum will be the most valuable currency to invest in.
Ethereum has a lot of potential for growth, so it's best to buy now before it skyrockets in price like bitcoin did last year.
It can also help you make money by investing in ICOs, which are initial coin offerings, that people use when they want to raise funds for their new crypto projects. Furthermore, with NFTs (non-fungible tokens) and ERC-20 being the main technology used for all ICOs, Ethereum will become the most important currency worth investing in because it's not just used for transferring money back and forth.
In conclusion, Ethereum going up will have a positive effect on all cryptocurrencies including bitcoin so investing now may seem scary but could turn out to be very profitable later down the line if you're patient enough.
