‘Its Time Has Come’ — Ethereum Bulls Target A $5,000 Price As Fresh Bitcoin Fears Swirl

Ethereum, the second-largest cryptocurrency by value after bitcoin, has broken away from the bitcoin price and surged higher in recent days.

The ethereum price has rocketed 30% over the last week, smashing through the closely-watched $3,000 level and taking its year-on-year gains to almost 1,500% — though it can’t compete with dogecoin’s rally.

As ethereum notches fresh price highs, investors have warned bitcoin is at risk of falling behind.

“The cryptocurrency space today looks very similar to the internet space in 1997,” Fahad Kamal, the chief investment officer at Société Générale’s U.K. private bank Kleinwort Hambros, told Business Insider.

In 1997, we thought Netscape Navigator was by far the most advanced sophisticated browser and there would never be anything to compete with that. And, obviously, here we are, Netscape is long [gone]. In 10 years, I have no doubt that blockchain technology is going to be a very serious force in our lives. I have much, much less conviction or faith in whether bitcoin will be around that long.

“There are other cryptocurrencies… which are arguably much better in their construction and in their underpinnings. Ethereum, for example.”

The cryptocurrency community has long been divided over bitcoin and ethereum with so-called bitcoin maxis arguing ethereum is not a good store of value while ethereum investors criticize bitcoin for its clunky and out-dated blockchain technology.

Crypto Enthusiast and Investor. I give regular market updates, trends and news regarding cryptocurrency. I use a variety of sources for my content.