The second quarter has started out on a brighter note for the cryptocurrency market with majority of crypto-coins witnessing value appreciation. Ethereum (ETH) has been one of the best performing cryptocurrencies over the period of the last one month.
ETH was valued at about $380 a month ago and it is currently trading at a value of $773 as at the time of writing this article. This translates into over 103% value appreciation over the last 30 days.
Comparatively to January however when the value of ETH was significantly higher at a price of about $1,300, there seems to be more room for improvement. It is believed that with the market looking up and more encouraging news being churned about the market, industry players and investors are hopeful to see the price return to the January price point and even surpass it.
Many market analysts have made bold predictions about Ethereum recently with some even making mention of a value of $2,500 by year end. One of such recent submissions was made by CEO of DeVere Group, Mr. Nigel Green. He says that “the price of Ethereum is predicted to increase significantly this year, and could hit $2,500 by the end of 2018 with further increase by 2019 and 2020.”
Financial market traders are always looking for opportunities to maximize Return on Investments (RoI), and many of these traders have been turning their attention to the digital currency space.
Many traders have also predicted a value of above $20,000 for Bitcoin and even though as at stands, no particular prediction can be said to be full-proof and infallible, however, such favourable market forecasts are good for cryptocurrencies are show a lot of confidence and good-will for the market.