I believe ETH will reach and likely surpass BTC, ultimately. The reason is that while the actual value of cryptocurrency is not tied to any external economical engine, ETH inherently offers more than a decentralized trust-less currency, it provides the additional value of smart contracts. Even before these become prevalent, the understanding of their potential will drive ETH higher (at least relatively speaking) than the BTC - a trend we’re already beginning to see.
Let’s explore what that would mean. At the time of this writing (4th JUN 2017):
Ether supply sits at 92,198,267 @ 240.
Bitcoin’s price is $2,520 @ 16,371, 475
If the price of Ether were $2,520, that would put the Ethereum market cap at $230 billion as against $41BN for BTC.
Perhaps the more urgent question is: will Ether ever reach the same market cap as Bitcoin? Given the current supply, Ether will need to hit $450 to surpass BTC’s market cap.
The rate at which ethereum is developing is intense no doubt. They have huge corporations in the Ethereum alliance backing them, a great dev team, and they are gaining more public attention as every second passes. Growth however is a double edged sword. New glitches are constantly being found in the platform and with more money on the line, malicious users have a greater incentive to take it down. Bitcoin has been through hell and back and is still standing plus ready for whatever will come its way. Ethereum on the other hand has not been through years of intense scrutiny and is therefore riskier. The next DAO could be right around the corner. I remember reading the other day on certain wallets users found a glitch where if they shifted and right clicked they could multiply the amount of ether in their wallet by 256. It has been fixed since then but to summarize ETH still needs to prove itself.
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