Does Ethereum have what it takes to overtake Bitcoin in the near future? Over the last months, Bitcoin has risen to near $20k mark while Ethereum, on the other hand, was able to hit $1200. Consider Ethereum as a different type of cryptocurrency thanks to the ability of users to develop apps because of its smart contracts.
Davos economic forum discussed the significance of Ethereum as a digital currency. A good number of crypto enthusiasts and investors are now trying to figure out whether or not the economic forum can be able to increase the price of Ethereum given the versatility of this digital currency and the variety of applications that it could potentially offer.
Impact of Davos on Ethereum
Davos is gathering people with financial ability to make big things happen for Ethereum. Davos is actually gathering some wealthy folks and discussions could lead towards more companies that are looking to invest in Ethereum. And because of this, there is a chance that the value of Ethereum is going to continue to rise.
However, the views aren’t exactly all positive. If you will ask the CEO of the International Monetary Fund, Christine Lagarde, for instance, mentioned that the lack of transparency and lack of anonymity that make cryptocurrency usage in the mainstream economy not advisable.
But of course, there are private meetings that were made pertaining to Ethereum. With the wealthiest people involved, you can expect a few companies that might become interested in investing in Ethereum, something that investors should look forward to.
Should investors look forward to this? Is it really the perfect time that they invest on Ethereum knowing the direction that it is going?
Rating Agency Says Ethereum Is Better than Bitcoin
Florida-based Weiss Ratings have released a report that ranked a number of cryptocurrencies on a number of metrics from risk to tech innovation and other important factors. And to everyone’s surprise, none of the digital currencies had been rated “A”. In addition to this, Ethereum received a higher grade than Ripple and even Bitcoin.
When asked how trustworthy are Weiss ratings, David Drake, a crypto asset expert, mentioned that it is “very trustworthy”. In addition to this, he also said that “It is the first step for more ratings to come out on cryptocurrencies”.
Could this rating system affect the attitude of investors? Also, does it really mean that Ethereum is on its way up while Bitcoin is most likely not holding on to the market leadership position soon?
Al Zdenek, the president of Taust Sollus Wealth Management, mentioned that “Weiss had been around for a while and appears to be respected”. He also said that “from their past history, they appear to tend to come out with new rankings or ratings in different areas of the markets first. The current ranking of cryptocurrencies seems to be the latest one”.
There are some areas which Ethereum is actually better than Bitcoin. And because of this, it seems that businesses are taking a closer look. But could we be seeing the rise of Ethereum to the top of the crypto market for 2018?