The crypto market has been suffering a decline since the last quarter of 2018 and is continuing its bearish trend but there is light beaming towards the end of the tunnel, which will be reached as soon as 2019 shows up. The bearish market trend has infected Ethereum the most as the speed of the decline is the most than the rest of its peers. Ethereum is down by around 93% since its all-time rate, sinking to a 17-month low. The biggest failure that Ethereum faced is probably going down the ranking in terms of market cap. Ripple went up to grab the second spot by maintaining a gap of $5 billion between XRP and ETH. But no need to worry, Ethereum has the contingency plan for the upcoming year, which is full of developments.
2019 looks bright for Ethereum as HTC Blockchain Phone Exodus 1(which is only accepting Bitcoin and Ethereum) has already been launched in advance on December 12, 2018, and is ready for purchase. Even Ethereum is expected to experience their Constantinople hard fork in January 2019, wherein the block times would start to increase, and by May 2019 the difficulty bomb is expected to reach 30-second block times. Joseph Lubin, the co-creator of Ethereum and the founder of ConsenSys tweeted that price going low is not a big deal, look at the Ethereum adoption rate, it is not going down at all.
Ethereum 2.0, that incorporates the Casper upgrade (Ethereum’s upcoming proof-of-stake (PoS) algorithm) and the addition of sharding, might be implemented from 2019 onwards, says Ethereum’s leaders. Vitalik Buterin spoke about the future of Ethereum scaling at its TechCrunch Sessions Blockchain event in Switzerland’s “crypto valley” saying that the demand for using public blockchains is high and we need to up the stability in order to meet that demand. The Ethereum roadmap was divided into five major parts, with Byzantium and Constantinople being part of one phase called Metropolis, which is mentioned in the Ethereum roadmap for January 2019 as tweeted by Peter Szilagi, team lead at Ethereum. This might be one of the biggest achievements ETH has had, hence it might go high above the ladder in 2019.
Ethereum has been gathering a lot of interest amongst the cryptizens which have lead ETH market capitalization to reach 10.5 Billion USD with 103,362,913 ETH as its current circulating supply.
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 prediction, 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 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.
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
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 a 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.
As per the forecast and algorithmic analysis, the price of 1 Ethereum (ETH) will be around $3844 in 2023.
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.
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2018-11-13 10:23:25.000001 | 2 min