2019 Ethereum Prediction
A recent analysis of the charts indicate that the price of Ethereum (ETH) has continued to drop sharply. In fact, the rate at which the digital asset is falling is much higher compared to other assets among the top tokens. This continued downward spiral has surprised investors and is causing concerns among many regarding were the digital asset is heading.
It appears that no bottom is OK for Ethereum (ETH) as it continues to drop. Currently, Ethereum (ETH) is trading around $103. This shows that the digital asset has fallen from approximately $1200 since the start of the year. Thus, the token has lost over 90% of its original value due to the highly volatile market.
Ethereum (ETH) at Risk of Drowning into the Double Digits
Ether is at risk of going into double digits because the next support area for the cryptocurrency is at the $100 position. There’s a psychological and technical support. Which is why the support line is very important. The last time ETH saw these levels was May 2017. At the time, the digital asset had formed a support of $91.
This clearly indicates that if the price of the digital asset breaks the psychological and technical support area of $100; it can drop to $91. This is the primary reason why it is crucial for the digital asset to retain the $100 support of area. The issue is that the downside momentum is ferocious to the point that it might break $100 as well.
Double digits for ETH is now becoming more of a possibility rather than an imagination. Hence, the reason why investors remain sceptical about Ethereum (ETH) considering the significant amount of value it has lost.
Ethereum (ETH) Has Lost a Significant Portion of its Value Compared to the Other Top Assets
As mentioned above Ether has lost a huge portion of its value. The figure stands at 90% as of press time. Among the top three virtual currencies, none of have lost such a huge amount of value. Ethereum’s value erosion is nothing short of enormous. And with the Initial Coin Offering market now in trouble, it appears the issues Ethereum (ETH) is facing isn’t about to end anytime soon. Authorities around the world have started tightening the regulation of ICOs. This is why the fundamentals are not positive.
A Fall Below the $100 Area Appears Likely
The current price movement of Ether means that a fall below $100 is imminent. Yes, things are not actually looking good for Ether. Additionally, with the competition within the Blockchain increasing from the other virtual currencies, the use of the Ethereum blockchain isn’t increasing by any means at a faster pace when compared to what it was earlier.
Whether we will see a turn around in the fate of the digital asset remains to be seen. We can’t say if it will hit the heights it attained when things were better. That is another matter altogether. For now, however, it appears that there is no bottom deep enough for the Ether token price.
Ethereum Blockchain Is One of the Most Useful
The blockchain of Ethereum (ETH) is one of the most useful in the blockchain space. Nevertheless, the blockchain project is paying a big price for the abundant fake projects in the crypto industry. A lot of Initial Coin Offerings used the protocol of Ethereum in 2017 and 2018. Ethereum is now the one paying for the sham motives of most of these projects.
The massive decline in the value of Ethereum is basically as a result of the low rate of new Initial Coin Offerings coming in the market. Investors are now smarter, they now have a better understanding of the landscape. A lot of existing projects are now selling-off their Ether as a result of the crash in the value of the digital currency.
However, the founder of ConsenSys and the co-creator of Ethereum – Joseph Lubin – believes that the adoption process and use cases of Ethereum’s protocol is growing rapidly.
Nerayoff talked about Ethereum
“You’re seeing a tremendous amount of growth across a wide variety of industries. Fintech is actually the natural area, but now you’re seeing it becoming increasingly more creative — you find projects in the oil and gas industry, you’re finding government using it in their applications, you’re seeing it in gaming, all kinds of different areas,” Nerayoff said.
Beyond project building, Nerayoff said usage is increasing because ethereum can process transactions more quickly and cheaply than its rival. “People are actually using it for currency, as well,” he said. “Lower transactional costs are increasing usage of the entire network, and that’s increasing the network effects of it. There are more users, more projects being built on there and more programmers,” he said. Despite his confidence, Nerayoff isn’t discounting bitcoin and the interest in cryptocurrency it inspired in 2017. “The entire space is increasing. There is huge interest by the public and there are more areas in which the public can invest, even in bitcoin, so you could just see an expansion in the entire space,” he said.
Ethereum price prediction: 2019, 2020
Ethereum is fast emerging as a major cryptocurrency. In the last few days, it has scaled new heights quite consistently. This is one of the main reasons why most of the investors are also looking at Ethereum as a long-term investment bet.
This brings us to the important question what can be the Ethereum price in the future. You need to understand that you have to look into the usability as well as the application of the cryptocurrency. When you are able to look at the usability and application of cryptocurrency, thereafter only it would become easier for you to understand how its value can appreciate. When you’re looking at Ethereum, you would realize that it is underlying capability that is it provides decentralized processing power as well as bandwidth. Owing to this very reason, Ethereum is much different as compared to the other tokens which are just a token for investment. This also means that the value of Ethereum would increase in the future.
By the end of next year that is 2019, it is expected that Ethereum would be somewhere around $ 500. Similarly, by the end of the year 2020, it is assumed that Ethereum would be around $ 2,000.
Thus, when you look at the kind of returns which are expected from Ethereum, you would realize that it has a long way to go still.
Reasons why Ethereum can appreciate by a significant amount:
some of the reasons include:
- Increasing application uses
- more companies adopting decentralized cloud-based applications
- increased usage of smart contracts
These are the 3 reasons why Ethereum is being more widely used. You need to keep in mind that when it comes to Ethereum, the more the platform is used, the higher would be the price of the token. Owing to this very reason, you can be sure that the value of Ethereum would increase in the future as well.
Also, it is expected to become the 2nd most valuable cryptocurrency according to the market cap. This is one of the main reasons why it would consistently appreciate as well over the years.
So, whenever you’re looking to invest in any cryptocurrency, it is a much better idea to look at the option of Ethereum. When you look at the option of Ethereum, you would realize that not only it has a strong application but also significant potential for appreciation.
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Fortune has published a story about the future of cryptocurrencies in general. Here is a summary of it to give a general idea:
The future of cryptocurrencies
7 Cryptocurrency Predictions From the Experts
Fortune convened some top cryptocurrency entrepreneurs, venture capitalists, bankers, and others to chat about the future of digital money at Fortune’s Brainstorm Tech conference in Aspen, Colo. last week. A select group met at the Aspen Institute for a breakfast roundtable discussion on Wednesday morning.
Headliners on the panel included Balaji Srinivasan, CEO and cofounder of 21.co, a cryptocurrency startup that has raised more in traditional VC funding than almost other one. Another was Peter Smith, CEO and cofounder of Blockchain, a U.K.-based cryptocurrency wallet company that recently raised $40 million from GV, the venture capital arm of Alphabet, parent company of Google (GOOG, +0.22%). And Kathleen Breitman, CEO and cofounder of Tezos, a blockchain startup that this year raised more than $200 million in an initial coin offering, or ICO, and which counts celeb investor Tim Draper among its backers.
The crew of experts weighed in on everything from the longevity of Bitcoin, as seen in this review on Bitcoin System, the original cryptocurrency and blockchain, or cryptographically secured public ledger, to the latest trend of hosting so-called token sales to fund projects, especially on Ethereum, a rival blockchain to Bitcoin’s, to the future of a decentralized web. Here are some of the predictions we heard.
The future of Bitcoin and Ethereum
- Bitcoin and Ethereum are here to stay.
Most people who are enthusiastic about cryptocurrency appear to agree that Bitcoin and its newer rival Ethereum have staying power, though they may be more bullish on one versus the other. “In terms of 5 to 10 years, Bitcoin and Ether will be around I bet,” Balaji Srinivasan told the room of more than 70 people.
Peter Smith said his company, Blockchain, which was early to Bitcoin, has only just started to warm up to newcomer Ethereum. In contrast, Mike Cagney, CEO and cofounder of SoFi, a personal finance company, said during a separate session on the main stage that he was hotter on the latter technology.
Bitcoin “has some purpose but its application for commercial transaction is limited right now,” Cagney said. “The blockchain and Ethereum, on the other hand, have absolutely fascinating infrastructure applications,” he continued, mentioning the possibility to overhaul title insurance, which involves policies related to real estate, as one example.
How many tokens and coins and blockchain protocols will eventually win out?
- As yet unknown coins will hit the big time.
Bitcoin and Ethereum may have stolen the show at this point, but the innovation won’t end there. Expect more winners on the horizon.
Kathleen Breitman is hopeful that Tezos, her own blockchain bet, will fill a niche that solves problems with extant blockchains. In particular, she and her project’s developers are designing Tezos to automatically push software updates out to the network, thus, in theory, avoiding the divisive feuding over upgrades that has wracked systems like Bitcoin over the past few years.
No one can say how many tokens and coins and blockchain protocols will eventually win out, but the experts seem to think there’s room for a multitude. “It’s likely that another one or two dominant ones we haven’t seen yet in the market,” Smith projected. “Another really dominant coin could come out this year or next year.”
Frauds are happening, people are going to jail
- Sure, people will get burned.
For the time being, token sales might seem like a fantastic way to raise a lot of money quickly and with few questions asked. Will this lead to riches for some? Undoubtedly—indeed, it already has. And rip-offs for others? Almost certainly.
Smith said he presumes that market manipulation and insider dealing is rampant among purveyors of initial coin offerings. “We’re cautious about it in the short term,” Smith said of his company. “But you have to temper that with the idea that every new technology is going to be like that in the beginning.”
Brad Garlinghouse, CEO of Ripple and a former executive at Yahoo, voiced his less forgiving concerns about the sector on a separate panel. “Heavily regulated markets are typically heavily regulated for a reason,” he said. “Frauds are happening, people are going to jail.”
ICOs change all the Silicon Valley
- ICOs will (eventually) give Silicon Valley and Wall Street a run for their money.
The days of making a pilgrimage to the homes of the holders of purse strings are coming to an end. In a world where anyone can participate as an investor online, physical location matters much less.
“It used to be you had to come to Silicon Valley, walk up Sand Hill Road, network with individuals,” Srinivasan said about entrepreneurs seeking funding, often strolling up a strip to the west of Palo Alto that long has been associated with venture capital firms. ICOs change all that.
Projects are already getting funded this Kickstarter-like new way. Breitman said she that when she set up Tezos’ token sale, she aimed to “get as many people who wanted to participate in the ecosystem to contribute.” The company raised more than $200 million to date and, according to her, more than 30,000 Tezos wallets have been opened.
ICO and Cryptocurrency Regulations
- Regulations will stick.
Elena Kvochko, chief information officer of the security division at Barclays, said that her bank has had talks with regulators about Bitcoin, blockchains, and their ilk. The rule-sticklers appear to be open to the idea as long as “know your customer” laws are obeyed, although its still early days.
Meanwhile, as governments settle on sets of rules of the road, countries like Switzerland, Singapore, and Estonia are jostling to develop frameworks that easily accommodate the new technology, Srinivasan said. They’re seeking to displace geographic incumbents and become hubs for a new wave of business financing. “If you’re a U.S. person or business, you have a good deal to be concerned about,” Smith said.
Breitman added that until the rules are agreed upon, it’s “best to be transparent” about what one is doing.
- Speculation will subside as “killer apps” take hold.
As cryptocurrency prices fluctuate wildly, speculators have been having a field day. However, there’s reason to believe the markets will become more stable, as Bitcoin gradually has over the past couple of years (despite its still big price swings), Smith said.
In order for these computer coins to catch on big-time, they need a use-case that beats traditional money. Ideally, this ought to be better than merely “buying drugs,” as Jeff John Roberts, Fortune reporter and the session’s moderator, noted.
Srinivasan proposed one possible scenario. Imagine that “all your waking hours are spent in the Matrix,” he said, referring to a virtual reality in which everyone is enmeshed in the future. As people from all over the world meet and interact, they will need a medium of exchange. “To transact, you can’t just hand over a dollar bill,” Srinivasan said. “You need an international currency for that.”
“It might take a while but there’s going to be more of a need to transact across borders than there is today,” he said.
7. Cryptocurrencies will pressure incumbents to improve.
Whenever a consumer swipes or dips a credit card, payment processors charge a fee.
Nicko van Someren, chief technology officer of the Linux Foundation, pointed out that the fee companies like Visa or Mastercard charge exceeds the cost to clear or settle transactions. These businesses can potentially process transactions quicker and cheaper, he contended.
One potential outcome of the adoption of alternate systems, like Bitcoin, is to provide companies with the impetus to improve their services. “Bitcoin is good because it will make banks move toward the real cost of handling these transactions,” van Someren said. (By extension, in Ethereum’s case, one could imagine upstart companies built on it forcing giants like Amazon, Facebook, or Dropbox to reconsider or improve their respective offerings.)
Smith, meanwhile, was less optimistic about incumbents’ ability to adapt to such change. “I don’t think be lot of room for banks to simply adjust their price models,” he said.