Reddit Co-founder Makes Wild Prediction: $15,000 Ethereum Price by End of 2018

The cryptocurrency market is currently awash with bullish predictions, with market analysts such as Thomas Lee predicting massive gains for Bitcoin by the end of the year.

Reddit co-founder Alexis Ohanian has recently joined the ranks of the ranks of bullish crypto proponents, predicting that Ethereum will reach a price point of $15,000 by the end of 2018.

In a recent interview with Fortune, Ohanian outlined his reasons for stepping away from Reddit in February this year and focusing on Initialized Capital, an early-stage venture capital firm founded with Y Combinator ex-partner Garry Tan.

"Most of the really vital, protocol-level, basic infrastructure around software and blockchain will need to get built in the next year or two for us to really see the Web 3.0 we're really hoping for. These are the types of things I think will build the foundation for a very different, much better Internet."

Initialized Capital, Ohanian's venture capital firm, has already invested heavily in the blockchain sector.

"I still hold a little bit of Bitcoin, and I think it has such mindshare that it will continue to be a store of value. I'm most bullish about Ethereum simply because people are actually building on it At the end of the year, Bitcoin will be at $20,000. And Ethereum will be at $15,000. Great, now people can call me out if I'm wrong".

According to Reddit co-founder, the relatively antisocial nature of cat owners, when compared to dog owners, leads them to spend more time on the internet as a social outlet, which places them closer to trends and innovation within the digital space.

Should Ethereum reach the $15,000 value predicted by Ohanian, the total market cap of the second-highest crypto would reach a massive $1.5 Trillion, up from the current market cap of $6.8 billion.

A return to the $20,000 level for Bitcoin would see the total market cap of the token rise back up to the December 2017 all-time high of $340 billion.

"I was a kid in the 90s without much leverage when the first Internet was being built, so I see this as a hell of an opportunity. We're still figuring it out. We still don't have a Netscape, but it's coming."