Opinion: Ethereum Developer Ecosystem is Similar to the iPhone Platform, Price Could Rise to $8,000 to $10,000

On August 22nd, Greg Magadini, the Director of Derivatives at Amberdata, stated that Bitcoin is currently like a hybrid of digital gold and a risk asset. Against the backdrop of a rising stock market and the Fed facing pressure to cut interest rates, this asset is being driven by two concurrent emotions. Although some people refer to Ethereum as a dated technology, Ethereum has a developer ecosystem similar to the iPhone platform, which enables developers to build applications directly on its infrastructure. These network effects will only continue to accumulate. Therefore, it is expected that the Ethereum price will continue to follow the rise of Bitcoin and may potentially reach the range of $8000 to $10000. (Decrypt)