Is Ethereum going to rise like Bitcoin? This is not a new question on crypto and other related forums.
According to one of the greatest minds in the crypto space, Ethereum is one of the most aggressive digital currencies in existence today. Don’t agree? Listen to him in this video:
Ethereum has managed to stay among the top-two most popular coins (the second most traded crypto to be exact) in the cryptocurrency space. This is due to the fact that the currency was developed to counter some of the challenges that were encountered by Bitcoin users including its scalability problems and slow transaction speeds.
But recently, there have been speculations that the price of the currency might be taking a downward trend, seeing as most other cryptos have also experienced a reduction in their market value.
I managed to gather the opinions of some of the best minds in this sector to help craft this guide for you.
But first of all, let us get the basics right, shall we?
Understanding the Ethereum Network
The Ethereum network was established in 2012, bringing to life the famous ideas behind Decentralized Autonomous Organizations and smart contracts. Satoshi Nakamoto’s vision for cryptocurrency provided for total decentralization which would be applicable to various sectors of the economy.
Today, his vision is slowly taking shape as various sectors are beginning to warm up to the idea of cryptocurrencies, leading to the growth and development of digital assets. This growth has seen the second largest crypto coin (Ethereum) command a market share of about $22 billion, as well as an even more promising future.
But how promising is Ethereum’s future?
Let’s be honest, no one really ever knows the future, but one thing is for sure:
Ethereum is among the Top-Rated Cryptos in the World Today
Ethereum’s smart contracts enable developers from across the world to develop their own crypto Blockchain platforms and other applications without having to develop a Blockchain from scratch. In addition, developers are also able to create other application, such as games, which are powered by the Blockchain and are referred to as Dapps.
And what do experts say about Ethereum?
Experts’ take on Ethereum’s Future
A number of experts claim that, as a result of the adoption of the ICO process by a large number of enterprises on the Ethereum network, the use of cryptocurrency has fast been spreading to many sectors of the economy. Industries such as the hospitality industry, manufacturing, real estate, and so on are just a few new entrants into the crypto space.
So, will Ethereum rise in this last quarter of 2018? The simple and straightforward answer is yes, it certainly will as more and more companies continue to tokenize their securities, develop other digital projects as well.
Ethereum’s Market Prediction
The Crypto market has gone against popular predictions for the better part of 2018, and this has got market players being more cautious. Here are a few popular publications regarding the price of Ethereum in this last quarter of the year.
The company is among the leading consultancy firms with international operations. According to them, they predict that the price of Ethereum will reach an all-time high of $2,500 per coin by the close of 2018.
Andrew Keys, Founder-member ConsenSys Capital
Keys predicts that by the end of 2018, Ethereum’s price will rise above $2,000 per coin. He further expects the price of Ethereum to exceed Bitcoin’s, as well as its market share. According to Keys, the demise of Bitcoin might end up being caused by its reluctance to evolve with the ever-changing crypto market – this remains debatable.
According to Investing Haven, they foresee a situation whereby the market price of Ethereum will get to $1,000 by the close of 2018, and if not so, then by 2020.
Extensive research and estimates of the crypto market show that even though the sector has been experiencing an up and down trend throughout 2018 with the third quarter market behaviour trending mostly sideways, Ethereum’s, and other assets prices, will continue to remain bullish even as the markets start to recover in this last quarter of the year 2018.
The 44% fall in the price of Ethereum is expected to shift positively since Blockchain predominantly relies on smart contracts, a logic that is associated with the Ethereum’s network.
Will Ethereum Rise? Our Opinion
In the first three quarters of 2018, the trend in most crypto assets has been a downward one – but many credible sources strongly believe that this last quarter will be the game changer.
Stakeholders are working day and night to solve the chronic problems faced by businesses, which include funding and scalability just to name a few. Ethereum has been at the center of all these, providing a platform for the development of new and improved projects that are meant to bring much-awaited change to the tech and financial sectors.
If there is something that has been learned by the Ethereum network is that they will need to do better when it comes to regulating entrants to its network, as this could have a negative effect on its platform in the long-run. According to a lead researcher at Cinnober Eric Wall, a large number of investors, who took part in the raising of funds using Ether, dumped the assets on exchanges, causing a domino effect on a number of other exchanges around the world. This, to a great extent, contributed to the decrease in the asset’s price.
However, the team has fully flung into action and are tightening all loose ends to ensure that investors close the year in a more promising atmosphere.
In Conclusion, will Ethereum Rise like Bitcoin?
Despite all these predictions in the market prices, the exact future of the prices of digital assets, such as Ethereum, still remains uncertain. Due to this, investors are expected to remain vigilant, even as the markets shifts to a more stable state.
What is your prediction of the future of Ethereum in this last quarter of the year? Leave us a comment below.