A lot of people, including investors and simple enthusiasts, make predictions regarding the future of Ethereum, but we must admit that this one is by far one of the most interesting we’ve heard so far.
According to The Independent, Roger Ver, also known as Bitcoin Jesus, thanks to the investments he made in the coin ever since 2011, believes that some cryptocurrencies, based on superior technology, have all the chances to register massive gains over the next few months or years.
The future is bright for Ethereum and Bitcoin Cash
Basically, Mr. Ver is suggesting that an eventual value surge will automatically attract more modest gains for Bitcoin. This will lead that what specialists are calling “The Flippening”. Specifically, it’s the point when Bitcoin will no longer be the cryptocurrency with the biggest market cap, being replaced by Ethereum.
“I see it happening, and I believe it’s imminent,” Bitcoin Jesus said. “Ethereum could overtake bitcoin by the end of the year and bitcoin cash could do the same before 2020.”
Apparently, Roger Ver claims that there are specific issues with Bitcoin’s core technology, like slow transaction times, as well as high fees, all of them appearing after the coin’s popularity has increased.
Ever since Bitcoin was launched, 1,500 additional cryptocurrencies have come into existence, a lot of them actually trying to overcome one or more of its flaws.
How much will it cost?
Over the past 12 months, the price of Bitcoin went through a real roller coaster, while Ethereum has also seen some serious gains, of almost 1,000 per cent, currently, trading at $677. Also, Bitcoin Jesus is optimistic about Bitcoin Cash as well, as it also went through a serious growth.
However, despite all these optimistic predictions, the price of Ethereum may still be a long way off Bitcoin, not to mention that there are five times more in circulation. Some simple math reveals that ETH’s market cap is just half under that of BTC.
On the other side, some people are not that optimistic, like former Skype COO, Michael Jackson, who now works for investment company Mangrove Capital Partners.
“I don’t see why bitcoin shouldn’t remain in the number one spot. It is still by far the best known and it is ultimately the reserve currency in the space,” he said.