The Ethereum rate is waiting for a rally up to $ 10,000. What could drive future growth?
One of the leading cryptocurrencies may soon gain a lot in value.
An analyst who runs a YouTube channel called Coin Bureau Clips believes that 2023 may be a real breakthrough for the further history of Ethereum. He argues that in the next bull market, the price of ETH may exceed $ 10,000, but for this to happen, the market must appear competitive to the existing cryptocurrencies CBDC (central bank digital currency), as well as applications driving further adoption of ETH.
Ehtereum will compete with CBDC
Investors in the cryptocurrency market are waiting for the first signs of a change in the trend, while analyst Guy Turner of the Coin Bureau Clips channel is convinced that the next bull market will be fueled by investor reluctance to CBDC, as well as the mass adoption of blockchain and cryptocurrency-based applications.
– I think that the catalyst for the upcoming bull market may be something much more mundane than we all currently believe. It could be an aversion to CBDC or some kind of “killer app” that will go viral in no time,” Turner said during his video.
Although the analyst did not indicate any specific date when the mentioned catalysts are to affect Ethereum prices, he noted that many governments are already working on their own CBDCs, which are to form the foundations of the economy of the future.
In the opinion of a popular youtuber, these will be imperfect solutions that will attract investors back to cryptocurrencies, which are the only real measure of value in the decentralized world of the future.
Ethereum applications are still in the early stages of development
During the discussion, Turner announced the creation of the so-called “killer app”, which will change the rules of the game in the cryptocurrency market and can be a truly decisive factor, starting the ETH rally towards $ 10,000 per coin.
– I think that with the development of Bitcoin and Ethereum, something like a killer app will most likely be created soon. People often ask me what this "killer app" will be, and I always say that if I had known, I would have built it a long time ago. So I have no idea, but I think its advantage will be high utility and extreme popularity. Everyone will want to use it, although I do not yet know in which specific sector of the cryptocurrency market it will appear. I would bet it could be, for example, GameFi or the metaverse – he added.
Although the metaverse hit a serious low in 2022, both large banks and commercial sellers of products and services are preparing for the digital revolution, knowing that the expenses spent on building a brand in the metaverse are less than the potential loss of an advantage over more conscious competition .