There are all kinds of bullish predictions about the prices of digital assets these days, and despite the market volatility, they continue.
The latest one involves Ethereum and comes from an important name in the financial space.
The Block Crypto reported the news about this new prediction and said that the British banking giant Standard Chartered released its first reports on crypto the past day.
The firm highlighted a bullish view on both bitcoin (BTC) and ether (ETH) but a more optimistic stance on the latter.
Bitcoin and Ethereum new predictions are out
Ethereum is more like a “financial market” in which transactions like lending, insurance, and exchanges can operate, according to Standard Chartered’s global research team led by Geoffrey Kendrick.
The same online publication notes that Bitcoin, on the other hand, is more akin to a “currency,” according to the team.
On the other hand, it’s worth noting the fact that considering the broader uses cases for Ethereum compared to Bitcoin, Standard Chartered believes that ETH’s total market capitalization will catch up to the one of BTC over time.
“The bank values bitcoin in the price range of $50,000-$175,000 over a longer-term, and ether in a $26,000-$35,000 range. But for ether to get there, bitcoin would need to first trade at $175,000.”
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $45,955.44.
ETH is also trading in the red, just like the other important coins in the crypto market, and the digital asset is priced at $3,355.64.
As you probably know by now, the other day, just following extremely important bullish news involving El Salvador accepting Bitcoin as legal tender, the BTC price fell and dragged the other important digital assets down with it.
There are all kinds of assumptions as to why this happened, but most investors have been saying that it was the right time to buy the dip.