Introduced by Vitalik Buterin, Ethereum has attracted a lot of investors of cryptocurrency. It is being seen that Ethereum is performing better than the Bitcoin. Since last year, its price has risen by 10,000%! Within a week in 2019, it has increased by 66%. This shows that Ethereum is one of the best performing cryptocurrencies this month. Currently, it is being traded around $103. This year seems to be big and bright for Ethereum.
Future of Ethereum in 2019: Ether Price Forecasts and Predictions
Most of the investors are looking towards Ethereum as a long-term investment benefit. It delivers decentralized processing power and bandwidth. This makes it different as compared to other tokens which also means that its value would rise in future for sure. If you are looking for returns from Ethereum, it still has a long way to go. Nigel Green, the CEO deVere group, predicts that it will hit more than $2500 by the end of 2019. The three main reasons for Ethereum being widely used are its increasing application use, increased usage of smart contracts, and more companies are adopting decentralized cloud-based application. Here are the predictions made by some of the renowned personalities and publications which can give us a better idea of future of Ethereum in 2019.
A blockchain enthusiast and founder of Joe Technologist.com, Joseph Raczynski, forecasts the value of Ethereum to reach $1200 by the end of 2019. He believes that Ethereum’s proof of concept is prevalent between institutional investors. Ian McLeod, an influential technology expert, predicts that it will reach around $500 by 2019. He states that chances are Bitcoin will lose 50% of its crypto market share to Ethereum within the next five years. According to a website, Trading Beasts, by the end of this year, Ethereum will reach $900 with an average price rotating around $600. Brian Schuster, the founder of Ark Capital LLC, made a very optimistic statement saying that in the next five years Ethereum may reach $500,000, and will ultimately replace gold with crypto. Tom Lee, head of research at Fundstrat, made a highly confident price prediction of Ethereum. He predicts that it will touch $1900 by the end of 2019. He said ‘There are no drivers to push Ethereum to 40% above its prior all-time high’. Moreover, Jeff Reed, cryptocurrency author, and market observer didn’t give a price prediction for Ethereum but he says that the market boils down to Ethereum eventually outdoing Bitcoin.
Most of the analyst predicts that both Ethereum and Bitcoin are here to stay. Although the crypto market has seen a downfall in 2018, Ethereum will rise in the coming years and it can reach around $1400 by 2019. We expect the Ethereum to grow with a convincing capitalization and concrete value per coin increase. During the first and second quarter of 2019, it may experience recurrent rise and fall but by the third quarter, it will begin to grow at a stable rate.