Go to ...

Economics Gazette

Economy and Business news

RSS Feed

November 12, 2019

How High Can The Price Of Ethereum Go? In Ether News Today: ETH Predictions for 2019

There is loads in store for ETH for 2019, but many investors are wondering how high can the price of Ethereum go.

Whether the price of Ethereum will go up or not is a question that’s not so easy to answer. However, we can still make predictions or educated guesses. If we take Bitcoin, for instance, no one would have thought it would end up reaching the $20,000 mark, especially after having started from $0.08.

Ethereum may or may not see such a meteoric rise in the days to come, but it may be able to accomplish the feat much quicker than Bitcoin due to the awareness of cryptocurrency among people now.

Bitcoin took its time because the concept of cryptocurrency was alien to people back then. It still is so to quite a few people now, but awareness is growing quickly.

And moreover, Ethereum’s underlying technology could make it easier for the platform to become popular far quicker.

Blockchain DAPPS Based on Ethereum

Remember, Ethereum isn’t just another coin; it’s also advanced tech. Most initial coin offerings (ICOs) have employed blockchain technology based on Ethereum. This is a reason why Ethereum will likely be around for a long time.

How High Can the Price of Ethereum Go?

When Ethereum becomes more mainstream, it could hit great numbers in a year or two. But that isn’t certain. The climb would become easier once the $1K mark has been hit again.

There would be dips every now and then. However, if the demand increases the future, hitting those far-fetched numbers wouldn’t be that difficult.

Investing in Ethereum Technology

The ideal thing to do isn’t investing in the crypto, but the underlying technology. Investing in technology would provide you with a lot more satisfaction – the satisfaction that you get when you know your money is safely parked and destined to double or triple with time.

Is Ethereum Better Than Bitcoin?

After the significant upsurge in Ethereum price in 2017, most investors were not sure which coin to choose between Bitcoin and Ethereum. Both the coins have their fair share of positives and negatives, and it would be completely unfair to pick one over the other. To make a wise choice, you should assess the coins’ performance in the past and how they are performing now. Once you can discern those aspects, you would be in a much better position to ascertain which coin would be the better investment option.

Underlying Application

Vendors who accept Bitcoins are increasing by each passing day. But Ethereum’s underlying application is much more robust since it offers a platform to execute smart contracts, which are being increasingly utilized by companies across the globe.

On the contrary, Bitcoin is primarily used or viewed as a form of currency. And this is despite it not being able to replace fiat currencies in the real world. This is primarily the reason why investing in Bitcoin isn’t extremely wise, at least for now. The reward-risk ratio is, at the moment, in risk’s favour as far as Bitcoin investing is concerned.

Media Coverage

When comparing both cryptocurrencies on how much media coverage they’re receiving, you would realize that Bitcoin has an upper hand over Ethereum. In fact, most people who have no understanding of how blockchains or cryptocurrencies work would have most likely heard of Bitcoin at least once.

This is one among the major reasons why Bitcoin attracts more new investors than Ethereum. In addition, you should consider the forks (Bitcoin Gold, Bitcoin Cash) that come in Bitcoin too. No doubt, they create extra value for their investors.

With the 1,000 percent increase in Ethereum value, the second most popular cryptocurrency is also getting good media attention. As a result, it is no longer the unknown cryptocurrency that it was some time ago. It still isn’t as popular as Bitcoin, but it’s definitely on its way.

Market Cap

Bitcoin leads the crypto pack when it comes to market capitalization. Ethereum, on the other hand, is the second most valued cryptocurrency. But that gap between Ethereum and Bitcoin is quite significant. This means even if Ethereum remains the second most valued currency, it would still have ample space to grow.

You must ensure that when opting for Ethereum, the investment period is long-term. With a long-term commitment to the coin, generating some substantial profit would become easier.

How High Can Ethereum’s Price Go?

Cryptocurrency investors are usually unsure about Ethereum’s true potential. While Bitcoin is predominantly a currency used for investment reasons, Ethereum has an application of its own. It offers software developers and companies decentralized processing power.

Moreover, it is a platform that’s smart contracts system-based. This ensures that firms can use the platform for seamless transacting too. Also, the transaction speed is fairly quick, thereby ensuring that both the underlying application and transaction-based mechanism are equally strong.

The Ethereum Enterprise Alliance has several Fortune 500 firms trying to devise proper programs from the platform and also decentralized solutions that Ethereum offers. Therefore, you could be certain that the platform’s usage would go up significantly in the long run. With so many Fortune 500 firms in the scheme of things, you could be sure of proper research and application. This means reaping the benefits would become much easier in the future. As more companies and people adopt the application, investors would find it much easier to reap dividends as Ethereum prices increase.

A few other reasons that could lend to Ethereum’s price rise are:

• High Ethereum availability across several different exchanges
• Actual application
• Media coverage

Therefore, like other cryptocurrencies, Ethereum is one of the cryptocurrencies to invest in. The main reasoning behind this being it is a real application and real platform that could be used for long. That said, Ethereum can be quite volatile at the moment, which is something you should be wary of if you have short-term investment goals in mind. Several experts and seasoned investors are advising against viewing Ethereum as a short-term investment vehicle.

Ethereum Blockchain is Actually Quite Useful

ETH or the Ethereum blockchain is quite useful within the blockchain domain. Regardless, the blockchain venture is paying a massive price for the multiple fake projects that are seeing the light of the day in the crypto sector. Several ICOs used the Ethereum protocol in the year 2018 and 2017. Ethereum is now paying the price for the unethical intentions of a lot of these projects.

The huge fall in Ethereum’s value is primarily due to the low-rate ICOs that have emerged in the market. Fortunately, investors are getting smarter and they understand the landscape much better than before. Several existing projects are currently selling their Ether off due to the large fall in the digital currency’s value.

But, ConsenSys’ founder and Ethereum co-creator, Joseph Lubin believes Ethereum protocol’s use cases and adoption process are growing rapidly.

Ethereum Forecast

Ethereum’s last year (2018) has been quite rough. But the question is will this situation remain or get better in the future. What could Ethereum’s value be by 2019 end? Could Ethereum’s price march toward highs that were never seen before? Or is 2019 going to be yet another year of consolidation? Several crypto experts are of the opinion that with blockchains becoming a lot more widespread, the reputation and price of Ethereum could go up accordingly. As of now, only time can answer all these questions.


Leave a Reply

Your email address will not be published. Required fields are marked *