According to Chris Burniske, a venture capital investor and partner at Filler, the cryptocurrency market is set to experience significant growth in the near future.
Burniske is optimistic that the price of ETH will rise to $10,000 in the foreseeable future, representing a potential increase of 438%.
Despite initial skepticism regarding the value of cryptocurrencies, Burniske highlights that similar doubts were expressed at price points of $1, $10, $100, and $1,000, all of which were subsequently surpassed.
Burniske acknowledges that short-term pullbacks are possible, but he remains confident that large-scale capitulations of the bulls are unlikely.
Burniske also suggests that the recent pressure from regulators on tax management is a precursor to the arrival of state-sponsored cryptocurrencies, but he believes that the industry will continue to thrive in spite of this pressure.
Earlier this year, Bits.Media published a detailed analysis of ETH’s prospects, in light of the possibility of the coin being classified as a security.