This may not seem like a big deal, but it could have a massive impact on both BTC and ETH.
After all, Wall Street is getting interested in cryptocurrencies…and they have questions…
Who are they supposed to talk to about Bitcoin?
There are core developers, sure, but no one can say with 100% certainty what they intended by creating Bitcoin. There is no founder; no one with enough clout to shape the currency’s future.
That’s where ETH is different.
Vitalik Buterin wrote the original white paper for Ethereum.
He led the development team that built it from the ground up. He travels around the world, talking to heads of state and CEOs, educating them on the potential of Ethereum.
Just look at yesterday’s big Ethereum news. Buterin appeared on stage at Ethereum’s annual conference, where he laid out a multi-year roadmap for the currency.
In the speech, he gave ETH developers a guide on how to fix the technical issues in the blockchain. And…within hours…the ETH price shot up 3.57%.
Daily Ethereum Chart
The Ethereum to USD exchange rate is now around $295.89.
We can’t be sure if Buterin’s comments were the catalyst because cryptocurrency prices are extremely volatile right now. Animal spirits are in play…
But that won’t always be the case. Fortune 500 companies are starting to use the blockchain, which means the industry is about to get formal—it won’t be running on hype.
I personally believe this favors Ethereum prices. Companies can build apps on the Ethereum platform, create smart contracts, or raise funds through the ICO process. There’s just so much more you can do.
Plus, Bitcoin is struggling to meet demand. Its blockchain is so clogged up that one transaction takes more than 30 minutes. Ethereum could run into the same issues, but not if it follows Buterin’s roadmap.
I believe in founders. They plant the seed of an idea, will it into existence, and nourish its growth. They can navigate complexity and the unexpected. Why? Because it’s their idea. For these reasons and the ones we mentioned yesterday, we maintain our $1,000 Ethereum price forecast for 2018.