There are many projections on the price of Bitcoin and Ethereum on the web. So many to the point that we no longer know who to listen to! However, when these price projections come from a bank like Standard Chartered, it is worth looking into.
The UK Bank Standard Chartered report
The English bank has just published a report on the two leading cryptocurrencies, Bitcoin and Ethereum. In reality, the report is more focused on Ethereum. Indeed, the report is entitled ” The Ethereum Investor’s Guide “. It is written by Geoff Kendrick, Christopher Graham and Melissa Chan.
In their report, the analysts return to the commonalities and differences between Bitcoin and Ethereum. As a reminder, Ethereum differs from Bitcoin by its involvement in DeFi and NFT and the use of smart contracts. Despite a broader palette, the editors consider Ethereum to be more risky than Bitcoin.
“While the potential returns may be higher for ETH than for BTC, the risks are also higher” Standard Chartered
Finally, what interests us most concerns the price projections contained in this report. According to researchers at Standard Chartered, the Bitcoin could thus soon reach 175 000 dollars. For’Ethereum, editors say they evaluate this crypto structurally between $ 26,000 and $ 35,000.
The Proof-Of-Stake Model Has “Clear Environmental Benefits”
The report also mentions the major event currently underway with the transition to Ethereum 2.0. Thus, Ethereum is in the process of abandoning its original model of Proof-Of-Work to turn to Proof-Of-Stake. This change should allow the Ethereum network to consume less energy.
“The transition (towards Proof-Of-Stake) has obvious environmental benefits since it eliminates the need to use very significant computing power for mining. »Standard Chartered
This goal was emphasized by researchers at Standard Chartered. In the report, they confirm all the good that version 2.0 could bring, starting with a reduced environmental impact. However, they warn against the difficulty of this “complete update within a platform already complex in itself”. The transition is expected to be complete during the first half of 2022.
Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.