Bitcoin price THREAT: 'Ethereum price will TRIPLE!' Founder says it WILL surpass bitcoin

BITCOIN price could soon be threatened by the growing cryptocurrency Ethereum as co-founder Steven Nerayoff predicts his creation will triple in value by the end of the year.

By Alessandra Scotto di Santolo, World News Reporter

"Price of Ethereum could TRIPLE in a year," says co-creator

price could be surpassed by ethereum as the cryptocurrency continues to surge in the virtual currencies market. 

Steven Narayoff, co-founder of ethereum said he is confident his cryptocurrency will triple in value by the end of 2018.

In an interview with CNBC, he said: “I think what we’ve seen with ethereum is an excellent increase in a number of projects that have been built on there.

Bitcoin price latest ethereum price bitconnect binanceGETTY

Bitcoin price threatened: 'Ethereum will triple in price', says co-founder Steven Narayoff

“I can see there are billions of dollars being poured into the ecosystem right now, giving ten thousands more projects this year than there were last year. 

“I think it could easily triple the price before the end of the year. It is very likely it will surpass bitcoin.”

Mr Narayoff explained that with the increasing interest of the public in cryptocurrencies and his assertion that ethereum is “more useful” than bitcoin as it has already been used as a currency, ethereum’s growth could be “exponential”. 

'There's competition' Ethereum creator expecting bitcoin battle

It is very likely it will surpass bitcoin

Steven Narayoff

Mr Narayoff former partner, Charles Hopkinson said the cryptocurrency market will strengthen further but only after a crash. 

He said: “My personal opinion is that we're going to see a consolidation after a crash. 

"What's going to occur is a lot of these ventures that don't have strong fundamentals, don't have good tech or just unrealistic projects, they will eventually run into some major wall they can't quite overcome. 

“They will fracture up and you will see a lot of them are certain to fail."

On Monday, , the second biggest cryptocurrency in the world, suffered a 30 per cent decrease, together with bitcoin and other successful cryptocurrencies. 

Because of Ripple’s and bitcoin’s plunges, ethereum reclaimed its position as the second-largest cryptocurrency by total market value.

According to Coindesk at 8:14 am on January 9, ethereum is valued at $1,226.51 against bitcoin’s price of $15,179.53.

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