Very recently, Ethereum surged upwards as BitPay added Ethereum for global payment systems. It has been experiencing unprecedented network congestion for a couple of weeks now, as ETH's network utilization reached 90%. As the utilization increases, the increased transaction costs would refrain the institutional users from using Ethereum. Because of these ongoing problems, Vitalik Buterin, the creator of Ethereum, said that the best way to solve this problem would be starting an online campaign on Twitter and Reddit, which can push the gas limits up. The upcoming Istanbul fork is expected to solve most of the difficulties, but it got delayed by another month due to problems with one of its advanced clients, Parity.
Even there have been reports of Ethereum on-chain metric rising rapidly like transactions per day, daily active addresses, average transaction values and many more. The number of on-chain transactions has increased to almost 910,000 over the past week, with an average block time of around 13.33 seconds, which is one of the fastest in ETH history. As per the data 41% of the total active nodes, which is 8661, are located in the United States. This data suggests that there has been a widespread increase in the adoption rate for Ethereum. You can relate with the help of the picture below:
Ethereum has been gathering a lot of interest amongst the cryptizens which have lead ETH market capitalization to reach 18 Billion USD with 107,951,307 ETH as its current circulating supply. Ethereum is currently valued at $178.15, with a decrease of 0.84% today. The 24-hour price movements indicate that $7,690,896,036 worth of ETH was trading.
Ethereum, introduced by Vitalik Buterin has drawn a lot of attention from the crypto enthusiasts, for securing the second position with the largest market capitalization. Ethereum, as a platform, enables dozens of cryptocurrencies to exist, without having to build their own blockchain technology. Ethereum enables developers to build smart contracts, that automatically execute tasks when certain stated conditions are met.
Ethereum has two main functions: keeping things running smoothly by compensating the mining nodes and pay people under smart contracts platform.
With the market being so volatile and the sudden downfall of ether, predicting the price of the cryptocurrencies is not an easy task.
Let’s consider the eminent publications and personalities, and their statement regarding the Ethereum (ETH) price speculation, which will give us a fairer idea:
The founder of Joe Technologist.com and a blockchain enthusiast with 153K twitter follower, Joseph Raczynski predicts that the value of Ethereum might reach $1200 by the end of 2019. He even stated that the ETH network has the largest developer community and that Ethereum's proof of concept is popular among institutional investors.
Ian McLeod, an influential technology expert of Thomas Crown Art predicts that Ethereum might reach something more than $500 by 2019 as it might experience a global and monumental breakout. He mentions that BTC might lose 50% of its crypto market share to ETH in 5 years or so.
The deVere group, one of the leading International Financial consulting firms' CEO Nigel Green, predicted that Ethereum would reach more than $2500 by 2019. He stated three reasons for ETH price increase- more platforms used for trading and more demand for digital currencies, increased use of smart contracts and the decentralization of cloud computing.
According to the website, Trading Beasts, the price of Ether might reach $908 by the end of 2019, the average price might revolve around $650. That was a very conservative, yet realistic price prediction for Ethereum.
The founder of Ark Capital LLC, Brian Schuster made a very bullish and optimistic prediction. He believes that Ethereum may reach $100,000 in another 5 years or so, and will eventually replace gold with crypto.
Ethereum's co-founder Steven Nerayoff told CNBC that Ethereum might get 10 times more project this year as compared to the previous one and feels that the price of Ethereum might get tripled by the end of the year. Steven estimated that the value of Ethereum might reach $3000 by 2019 end.
Click here: Top 13 Best Ethereum Wallets in 2019
On 2019 Ethereum may heavily boost its price and totally take an upward turn. We assume as high predictable a mass adoption of this cryptocurrency next months. We expect in 2019, Ethereum might rise with strong capitalization and consequently a concrete value per coin increase. It might experience frequent ups and downs in the first and second quarter. From the third quarter, it will start growing at a steady pace from $484 in July to around $1449.89 in 2019.
2020 will prove to be the most remarkable year for Ethereum and other cryptocurrencies as well. dApps will see a huge adoption in this year. In the first quarter, the highest can be $2100, the minimum being $1929 in January. The second quarter can revolve around the $2600 mark. But after that, it again starts declining to the line around $2480.
The year 2022 is also going to be full of goal accomplishment for the Ethereum community members. Ethereum might go through many integrations and partnerships in 2022, which might increase its value in the market, and its value is estimated to increase drastically, as it is going to go through some technological developments also. By 2022, ETH might reach $2500.
As per the Ethereum price forecast and algorithmic analysis, the price of 1 Ethereum (ETH) will be around $3844 in 2025.
So, Ethereum is certainly one of the best options which you can currently invest in. You need to, however, look at the tremendous increase in the price of Ethereum in the last months. Thus, it shouldn't come as a surprise that the price of Ethereum can reduce its value in the shorter term. However, in the longer term, you can be positive that the price of Ethereum would increase. You can convert ETH to BTC from CoinSwitch at best rates.
Even though the crypto market has seen a downside towards the ending of 2018, Ethereum is going to take an upward surge in the coming year and it can touch around $1400 in 2019, because of the growth and developments planned in ETH's roadmap. Eric Wall, a cryptocurrency researcher at Cinnober, stated that blockchain projects which raised hundreds of millions of dollars in Ether in the past year dumped the digital asset on the crypto exchange market, creating a domino effect across the major exchanges worldwide.
One of the engineers of Ethereum Virtual Machine(EVM) very recently published about the Devcon4 conference that happened in two months back where ETH cofounders Vitalik Buterin and Joseph Lubin was also present. He mentioned that the meeting was mainly summoned to discuss the upgrades of the Ethereum network(like the introduction of storage fees for smart contracts), also labeled as Ethereum 1x, which might be implemented in mid-2019
As per the market analysts and enthusiasts, Ethereum has a high probability of price surge. Ethereum has a great roadmap scheduled for 2019 and years to come.
Ethereum might be the future as it is the first one to come with "smart contracts" or documentation without human intervention.
That can't be commented as both has its pros and cons. They both are the topmost cryptocurrencies in the world.
Ethereum might reach $2480 by 2020.
Ethereum might reach $5000 by 2030.
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2019-09-03 14:48:02.100550 | 2 min