Ethereum has finally broken the barrier of $300 and surged past $420 recently. Ethereum price will continue to rise and reach at least $500 by the end of 2017, according to several analysts. We also believe that Ethereum price will cross $1000 in the first half of 2018. The Ethereum community is getting stronger and united every passing day. The Ethereum rally came hard on the heels of an exciting prediction made by billionaire investor Michael Novogratz, the ex-manager of Fortress investment group. The billionaire predicted on November 21 that Ethereum will cross $500 mark in 2017. He is also bullish on Bitcoin, and thinks that Bitcoin price will surpass a whopping $10,000 mark. Novogratz is currently raising massive funds for a “crypto fund”. This hedge fund will buy assets related to the cryptocurrency industry. The cypto fund has raised about $500 million in assets so far.
Ethereum Price to Reach $1000 in 2018?
Analysts have been betting on the future of Ethereum for a long time. Several cryptocurrency experts think that Etherum will surpass the value of Bitcoin in the future because Ethereum is based on pure blockchain dynamics. It’s more secure than Bitcoin.
Ethereum’s market cap is about $40 billion. Reaching $1000 for Ethereum means its market cap will soar to over $80 billion. This is not impossible given the fact that the Ethereum community is increasing the production and mining of coins. Increasing supply will increase the community and hence more updates with strengthen the Ethereum base.
Analysts think that the Ethereum technology can easily become the basis of Web 3.0 and its apps will of extreme usage in Internet of Things.
Ethereum price will cross $1000 because there are literally thousands of developers and organizations that are working on Ethereum projects. These projects will start showing their results in 2018, and Ethereum price will skyrocket as a result. There are several Ethereum ICOs which are being planned by big investors around the world.
An excellent piece published by Crypto Portfolio on Medium talks about the value multipliers of Ethereum and how the value of Ether can exponentially increase based on several factors, including acceptance, volume increase, community factors and more. Following are two of the most important graphics from the piece which show the possibility of Ethereum market cap increase and its effect of overall Ether price.
Ethereum’s biggest strength is its flexibility and programmability. Ethereum is based on smart contracts. These smart contracts makes hacking of Ethereum networks practically impossible. There companies are adapting Ethereum rapidly. Air New Zealand recently announced that it will start experimenting with Ethereum-based blockchain technology for its operations.
Ethereum price will also rise because the cryptocurrency’s biggest problem is about to be solved very soon. The community has agreed to use the technique of “sharding” to solve the problem of scalability. Sharding is a database technique of breaking large tables into smaller ones in order to speed up operations and data extensions. The effects of Sharding will boost Ether price in 2018.