Ethereum has gotten a lot of attention from investors these past few weeks thanks to the steady surge in price, but price analysis reveals that this is just the beginning.
The cryptoverse is full of various upcoming blockchain projects claiming to take over Ethereum. Some people even believe that ETH has no future. But is this possible? It’s unlikely. Ethereum may still have flaws that are yet to be corrected, but it has proven itself one of the strongest contenders in the cryptoverse.
What Should Investors Expect From Ethereum This Year?
Since April 7th ETH has been moving on an upward trend and this is just the beginning. There are visible signs that Ether will surprise investors by being one of the best performing cryptocurrencies this year.
For starters, South Korea is allegedly making plans to legalize Ether again. This news will positively influence the number of Ethereum blockchain ICOs in the market since South Korea is one of the leading cryptocurrency markets in the world.
Just like what happened towards the end of 2017, there is going to be a hike in the price of ETH. This year is going to be far better because of the increased awareness of cryptocurrencies. If South Korea makes a move, the value of Ether will explode moving up to $3000.
With Ether currently selling above $800, there is evidence of an upside movement considering that the cryptocurrency got lows of $300 during its recent downturn.
Apart from South Korea’s plans to legalize ETH, another factor that might influence the price of ETH this year is the shift to proof of stake algorithm. Casper (the name of Ethereum’s proof of stake algorithm) is going to become fully operational within the next five months.
As soon as Casper goes live, Ethereum will become one of the most scalable networks in the world. If Ether could rise over $1000 when it had scalability issues, how far do you think it will go when this issue is fixed?
Finally, Vitalik Buterin’s interest in Ethereum will continue to push the cryptocurrency forward as he champions projects to boost the value of ETH.