While not quite in the spotlight as much as Bitcoin, Ethereum is, nonetheless, quickly becoming the gold next to Bitcoin’s platinum and that has people looking into its future direction.
Of course, being able to predict the future value of any asset is part science and part art.
But, as far as the future value of Ethereum is concerned, there are a few directions we can see this cryptocurrency taking in the immediate future.
In this article we’ve compiled some of the best predictions from some of the most vaunted analysts in the cryptocurrency industry. Hopefully this will not only give you the information you need to increase your holdings or delve into Ethereum, but also give you some insight into the future trajectory for this revolutionary cryptocurrency.
Of course, the reputation that cryptocurrencies have for volatility in their valuation is no shock to anyone who has watched the market, but many analysts expect this to stabilize in the coming years as Bitcoin and others get integrated into the market. As far as Ethereum is concerned, making concrete predictions about its value is particularly tough given two factors: Its short market history and its somewhat violent history at that.
Instead, the best way to approach a valuation for Ethereum is to look at what the currency has going for it and what is working against it in the marketplace. Because previous data is unreliable for making future predictions, we have to rely on the strengths and weaknesses of Ethereum as it stands now and where it will be in the next several months in order to devise an estimation of its value.
Ethereum Price Prediction: Factors working in Ethereum’s favor:
1 Widespread applicability to many industries and uses
Ethereum allows for a flexible transaction model that also includes the ability for developers to create smart contracts and apps using Ethereum as the denominating currency. From application to commerce and industry to tracking contracts and fulfillment, the unique properties of Ethereum lend it particularly to innovation from the consumer-side of things. Unlike Bitcoin, which uses somewhat older technology, Ethereum is completely adaptable to almost any use that could be thrown before it.
2 The Power of Dapps
As mentioned in the previous paragraph, the creation of Dapps or applications using Ethereum as a basis is probably the biggest growth factor that will drive the future value of Ethereum. The more industries and companies that use and develop Dapps on Ethereum Blockchain, the higher the value of Ethereum is likely to be.
3 Prevalent Use In Initial Coin Offerings
Initial coin offerings, or ICOs, are when a company decides to debut its own cryptocurrency. Many of these initial public coin offerings are denominated in Ethereum. This means that, if you want to get in on the ICO, you will need to exchange Ethereum for the new coin. Not only does this put Ethereum in the powerful position as a medium of transaction for launching new cryptos but also has an impact on its price as more and more people buy and hold it for various purposes.
Going hand in hand with the above advantage, the general accessibility of Ethereum when compared to other cryptocurrencies makes it ideal for launching other coins as well as using it for commerce. A popularity that doesn’t look like it will wane anytime soon, the ability to buy and sell Ethereum on most every exchange in the world makes the currency’s potential user base that much higher by default.
5 Casper and Upgrades coming in late 2018/2019
Another sign of Ethereum’s strength on the marketplace are the serious upgrades ( e.g. Casper )that are coming to the platform in 2018 and 2019 that will allow it to be more scalable and stable as well as enabling the shift from Proof of Work to Proof Of Stake model.
6 Corporate Support
Bitcoin might hog all of the spotlight in the popular press, but Ethereum has the big guns on its side when it comes to corporate America. Partners include Microsoft, BP, JP Morgan, ING, Intel, Credit Suisse and Santander, among others. Not only are these companies looking at cryptocurrency’s potential as a medium but are specifically using the Ethereum model as a test case.
Ethereum Price Prediction: Factors working against Ethereum’s favor:
While Ethereum has a range of things going for it, there are a few factors that might be working against it. Here're some of them:
This should come as no surprise: Ethereum has a ton of competition out there. From the more well known Litecoin and Bitcoin to other new coins just emerging on the market. Ethereum’s ubiquity and adaptability make it great for bringing new coins to market, but this is also a fundamental weakness because it could help launch a platform much better than it.
2 Scaling Issues
- Even though Ethereum is the most open to scaling, that doesn’t mean that the technology around doing that has been totally worked out. Its popularity has revealed a range of issues as the network is struggling to keep up with the spike in traffic, resulting in longer transaction time as well as higher fees.
3 Smart Contract Security
In real-world deployment, some smart contracts denominated in Ethereum have suffered hacks due to some of the vulnerabilities in Ehtereum's code.
As with any cryptocurrency, as the market grows so does the government scrutiny. This would probably have a negative impact on the value of Ethereum, at least initially.
5 Use in ICOs
The use of Ethereum in initial coin offerings could be a double-edged swords in some case. Aside from the potentiality that the coin could give rise to its own competition, there are also issues with some of the ICOs being launched consisting of less-than-reputable backing. Ethereum can’t help but become associated with these schemes in the eye of the general public due to its status as the preferred medium of transaction.
Ethereum Price Prediction: Market Forecasts
Ethereum is a highly traded in cryptocurrency exchange, with an all-time high of ~$1,430 in January 2018 before diving to its lowest of ~$174 this year. Being one of the most preferred coin before the market crash, traders continue to anticipate for the slightest possible indication of a surge in price by reputable crypto scholars and leading publications worldwide.
Unlike the legendary Bitcoin, Ethereum doesn’t get as much news coverage and spotlight from press giants- which made it relatively difficult for mass market observers to jump on the bandwagon, right before it skyrocket. But hey, fret not! We’ve compiled a good list of Ethereum price prediction for your ease of reference and onwards research in this article. Read on.
Let’s take a look at what some of the industry experts’ forecast and commentary are for Ethereum price in 2018 and its projected growth potential over the next 5 years:
1 Aayush Jindal
In March, Jindal predicts that Ethereum will remain weak and may incur more losses should the price not cross the mark of $515. His forecast was made on the basis of a visible strong support at $477.31, with a next possible buy hovering around $450. However, once it breaks through, investors may witness a highly exciting and strong rebound of the currency.
2 Andrew Keys
The price of Ethereum will rise to beyond $2000 in 2018, says the Co-Founder of ConsenSys Capital. In comparison to Bitcoin, he forecasted that both price and total market capitalisation of Ethereum will overtake Bitcoin by the end of 2018. Bitcoin’s rigid functionality, substantial fees and relatively weak governance is becoming a major turnoff, with the rise of highly innovative cryptocurrencies in the market.
We’ve seen how Ethereum price skyrocket in 2017, but guess what’s the underlying factor. It’s Initial Coin Offering (ICO). Like a gateway, Ethereum enables the creation of other cryptocurrencies without a need for their own blockchain technology- by building theirs on top of Ethereum’s. Stringent government regulations and slower rate of adoption has contributed to the fall of Ethereum price from January 2018’s high of over $800 billion to $200 billion.
4 Brian Schuster
Ark Capital LLC’s Head of Founder Solutions painted a rather promising image of Ethereum achieving a worth of $100,000 per coin. His reasoning? If we were to explain this in a context of a business product, Ethereum is less likely an ordinary business rather it's worth is one that crystallizes over time, like gold. It is one that has great potential to replace all existing cryptocurrencies or rather being a “mother of all fiat currencies”.
5 Clem Chambers
The market should look out for a repeated trend of a spike in price towards the last quarter of 2018, says Clem, CEO of ADVFN investment website. That means it could potentially surpass 2017’s mark of $1400.
Clem further emphasises that Ethereum and Litecoin should remain on radar while eyeing for any sign of rally, in particular as it could potentially signal the next wave of cryptocurrency boom.
6 Nigel Green
Nigel Green, CEO of deVere Group, one of the world’s top international financial consulting firm envisioned that Ethereum’s price may step up to above $2500 by 2019 and 2020. This is fueled primarily by:
Ethereum’s sees a growing usage of smart contracts;
Growing number of platforms are using Ethereum as a means for trading; and
Cloud computing decentralisation.
7 Jeff Reed
Unlike most fiat currencies, Ethereum’s potential doesn’t limit in just being a trading commodity or alternative currencies. What sets it above the rest its highly intelligent and intuitive platform capabilities coupled with sophisticated programming language which enables the creation of smart contracts. This functionality alone has positioned Ethereum as a highly valuable asset which greatly surpasses Bitcoin.
8 Joseph Raczynski
Interestingly, Joseph remarks that the ETH may, too arrive at a price of $1000 being “one of the most real projects as to date”, supporting the work of a great number of prominent organizations.
9 Matthew de Silva
Cryptocurrency journalist, Matthew opines that the tangible benefit of Ethereum has yet to be proven in the real life, as most of the Dapps or applications built on the Ethereum’s backbone are ideations that have yet to be crystalised. Other than being the catalyst of speculations, Matthew stressed that it’s difficult to envision Ethereum as an invention that will make much of a difference- aside to contributing to the crypto bubble. With that being said, it could be that Ethereum’s price is bound to arrive close to zero. This comment came in when Ethereum’s price dive to $179 in September. Yaiks!
Vitalik Buterin defended his stance by making a statement on Twitter, implying that the advantages of using Ethereum are clear with concrete efficiency. He further advised that the creator’s planned features for the coin should also be taken into consideration, rather than making assumptions solely based on hypothetical features reasoning.
10 Olaf-Carlson Wee
CEO of head fund Polychain Capital, Olaf Carlson predicted that Ethereum’s price and total market capitalization would surpass Bitcoin’s before 2018 comes to an end due to its highly robust programming language and market positioning.
11 Steven Nerayoff
Nerayoff, Co-Founder of Ethereum believes that Ethereum’s worth growth exponentially with the increase in new projects that are riding on it. Cryptocurrency is a billion dollar project and the industry is poise to greet 10x more projects in 2018 as compared to 2017. Ethereum’s price could easily double or triple fold by the end of 2018.
That being said..
What’s our verdict on Ethereum’s price prediction?
Disclaimer: This is not a financial advice
Despite seeing an overall downfall in the first half of 2018, we are positive for good news in the coming six months to a year with a possible surge of to ~$1200. Historical price trend reveals that Ethereum price could potentially grow up to 600%-700% in a 5 years long term investment.
Ethereum Price Prediction 2019
When the ICOs undergo a worldwide scale dumping spree, Ethereum lost about 87% to a $174 low, for once falling below the $180 benchmark since 2017.
However it possible that Ethereum could rebound to $1220 by the end of the year 2019, an increase in price that grows in proportion to utilization rate. This price prediction is supported by the widening use of smart contracts and blockchain technologies with growing acceptability in the digital community.
Ethereum Price Prediction 2020
2020 is a year where we can all expect to see a turning point in Ethereum’s price, on the back of a widely anticipated global adoption of the fiat currency. 2020 could be the year where Ethereum rises from the deep, bringing along massive market capitalisation and a huge jump in price. We predict that there could be a visible hiccup in the first 2 quarters as the coin pushes past the support level and sees a breakthrough at the start of the third quarter with a steady growth pace between $1500 and $2200 in 2020.
Ethereum Price Prediction 2021
We forecast no signs of slowing down post 2020 for both Ethereum and fellow currencies. 2020 could be a lucrative year so be sure to pay extra attention to the latest cryptocurrency news and look out for market signals right here on Cryptoverze. January 2021 may surprise with a high of between $2500 to $2600, whilst second quarter may host a price of $2900. A possible decline to $2500 is reasonable considering the volatile nature of the market.
Ethereum Price Prediction in the next 5 years
Looking into historical trend and prospective growth opportunities, we predict that Ethereum’s price in 2023 could well be approximately $3845. That being said, if you are looking to invest in a cryptocurrency that has both attractive growth prospect and scalability, Ethereum is definitely one of our best bet out there on the following basis:
Intelligent blockchain platform
By allowing other coins to tap on its platform for growth, Ethereum is well positioned with the success of its riders which further boosts its significance in the community- thanks to its smart contract functionality. With an increase in usability, comes greater adoption.
Not just your ordinary coin next door.
Rather than being just a medium of digital transaction, Ethereum was built on an ideology that encourages spending Ethereum which propels it to reach greater heights compared to Bitcoin.
However, the fact that Ethereum performs exceptionally well last August, let’s be mindful that there’s still a potential fall in value in the near future. Regardless so, Ethereum’s value will sure to accelerate in the long run and we’re one strong backer who would like to be in the wagon before the hike frenzy begins.
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