ETH Price Prediction: Ethereum is a decentralized platform that serves smart contracts: applications that work correctly as scheduled without any probability of downtime, censorship, fraud or third-party interception. These apps run on a system built blockchain, an enormously compelling shared global infrastructure that can move value around and describe the ownership of the business. This allows developers to create markets, store registries of debts or obligations, move funds following instructions are given long in the past (like a will or a futures contract) and many extra things that have not been discovered yet, all without an agent or counterparty risk.
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What is Ethereum?
Ethereum is an open-source blockchain-based platform that enables hundreds of decentralized cryptos and projects to be created and deployed without having to develop their blockchains. With the second highest market cap in the crypto world, ETH has drawn a lot of attention from investors and crypto enthusiasts alike. Ethereum not only presents a notable change to the status quo, but it also allows for the swift development and deployment of new applications offering niche solutions for several industries.
Market prediction for Ethereum price 2018
The market is volatile, and with the sudden downfall of the ether, it is not an easy task to forecast the prices of Ethereum. Let’s examine the famous publications and personalities, and their report regarding the Ethereum (ETH) price prediction, which will give us a decent idea:
#1 Bloomberg On ETH Forecast
Initial Coin Offering using the Ethereum blockchain are seeing as one of the main catalysts for sending Ether’s price surge last year. Now they are being blamed for its decline. With the cryptocurrency market capitalization dropping to about $200 billion from a high of over $800 billion in January this year, on concern about tightening regulation and slow adoption.
#2 Andrew Keys – Co-founder, ConsenSys Capital
The price of ether will exceed $2,000 in 2018. Ether will continue to outperform bitcoin, and the total market cap of ether will exceed that of Bitcoin in 2018. Bitcoin’s governance issues, reluctance to evolve and extremely high fees could lead it to its demise.
#3 deVere Group
The deVere group, one of the leading International Financial consulting firms predicted that Ethereum would reach $2500 by the end of this year.
Is Ethereum Dying?
This is the significant question in the minds of the investors. Since the inception of the coin, ETH has enjoyed the glory and made a lot of profit from it. But when the crisis hit the market, the values of almost 80% of the coins started to fall, and ETH was also a victim of that. This made doubt in the mind of the investors, whether to invest in the coin or not. But the case of ETH is that the use case is not only the purpose of currency but instead, it is a complete ecosystem where decentralized applications are developed on top. This architecture provides several compelling use cases like tokenization, smart contracts, and ICOs. The block time is much less than the block time of BTC and ETH uses a virtual machine and several specially designed programming languages. The highest supply of ETH is uncapped at the moment, but this is currently considered to be changed. The next point is that if a coin is downgraded to a certain level, there is a chance to rebound from its current value and increase to its double. This might also happen if the coin performs like this. So one thing is for sure that Ethereum is not dying.
Ethereum Price Prediction in 5 Years
As per the prediction and algorithmic analysis, the value of 1 Ethereum (ETH) will be approximately $3844 in 2023. So, Ethereum is undoubtedly one of the best choices which you can currently spend in. You need to, however, look at the enormous increase in the price of Ethereum in the last months. Thus, it shouldn’t come as a wonder that the amount of Ethereum can decrease its value in the shorter term. However, in the extended time, you can be sure that the price of Ethereum would increase. ETH price prediction cannot be accurate all the time.
Ethereum has several new developments going right now. The switch from Proof-of-Work to Proof-of-Stake is making significant progress, the code for Casper phase 1 is already on GitHub. Plasma, side-chain solution which decreases data-bloat on the root-chain is improving as well. With the Raiden Network Ethereum has state-channel benefits similar to Bitcoins Lightning Network. And of the best characteristics of Ethereum is the token standard ERC721, this standard enables the production of non-fungible tokens (NFTs).
On the bright side, the technological side of Ethereum is performing very well and it is showing a lot of promise for the future. On the other hand, PoS is not as wholly researched and understood as PoW and if the ICO-bubble bursts, ETH could suffer as there is a direct association between ETHs value per unit and the number of ICOs started on Ethereums blockchain. ETH is not dying, but we cannot entirely trust on a crypto, looking at the market. It may go up or down anytime.
Disclaimer: This feature should not be exercised as, and is not designed to provide, investment advice. Coinpriceprediction and its affiliates, employees, and writers give the information about the coin with careful analysis. Please conduct your thorough study before funding in any crypto.