Ethereum is poised to attain a new all-time high as Billionaire Investor Novogratz suggests
Mike Novogratz asserts that Innovative developments that leading startup have made will poise Ether to an all-time high. The former Fortress executive and hedge investor are certain that Ethereum’s native currency will record an impressive short-term performance.
The South Korea Take over
In October, there was a brief decline in Ethereum demand in South Korea when the South Korean government decided to impose a ban on any initial coin offerings. But since then, over the recent weeks, ether has continued to record a significant increase in the daily trading volume.
After recovering, the South Korean exchange has overtaken the US to become the foremost ethereum market taking nearly 33% of the global ethereum exchange market.
Ether to spur high
Ether struggled to surpass the $300 price mark as Byzantium hard fork successful execution didn’t create a price rise as many highly respected cryptocurrency analysts had predicted.
Since ether has recently shown an encouraging price trend, the market and investors have become enthusiastic towards various projects and scaling solutions within the ethereum network.
After Byzantium hard fork, the market has demonstrated network stability through some progress on scaling solutions, both off-chain and on-chain, like Casper, sharding, and plasma, being made. According to ethereum’s co-founder, Vitalik Buterin, many investors have queried whether there are intentions to engage in ICOs in such scaling solution projects.
In weeks to come, ether is set to benefit as institutional investors intend to move money billions of dollars from the traditional finance market to bitcoin.