This is definitely one of the toughest times be an ETH-believer.
According to a recent report, major cryptocurrencies like Bitcoin [BTC], Monero [XMR], and Dash are headed up. But for Ethereum? Not so much.
The report titled “Cryptoasset Market Coverage: Valuation” was prepared by Satis Group, an ICO and Cryptocurrency advisory firm.
According to the report, Bitcoin prices will approach $33,000 in 2019. The trend will see it reach $72,000 in 3 years, and a staggering $144,000 in 10 years. Still on a long-term outlook, Monero [XMR] and Dash [DASH] were tipped to see 38,000% and 1,459% gains in 10 years from now.
Ethereum on the losing side, long-term
But the optimistic looking report wouldn’t bring any hope to Ether supporters. Ether [ETH] was listed alongside Bitcoin cash [BCH], Ripple [XRP], and EOS [EOS] as cryptocurrencies that will decline in the next 10 years. Satis explains that application-specific blockchain networks like Ethereum and EOS don’t hold much value in their present form, and will struggle against government regulations and user interphase.
Ethereum price watch for 2018
The price of Ethereum’s native token Ether [ETH] has taken a serious beating this year falling behind most of crypto market at some point. Here are some reasons for ETH’s price downtrend.
Observers in the short term are hoping for ETH to rise above the $300 mark and start a recovery, and hopefully end the year on a high. For ethereum to end the year at a decent price, and ensure those who invested earlier this year break even, then it would need to witness a massive growth.
Forget about Massive Price Growths
This is coming from the co-creator of Ethereum, Vitalik Buterin. In his words’ “There isn’t an opportunity for yet another 1,000-times growth in anything in thespace anymore.”
Though he has been attacked for being pessimistic about the cryptocurrency, he maintains he was only being reasonable stating that al the world’s wealth would have to come into crypto to achieve such gains. But why not?
There’s still Hope
The cryptocurrency market, for what its creators envisioned for it, has a long way to go in terms of adoption and even prices. At 187 billion, the entire cryptocurrency market is just about a fifth of the valuation of a single company as noted by CBOE president Chris Concannon. “It’s a little bit shocking to me the attention this market gets versus its size. It’s a fifth of Apple. The entire crypto market is a fifth of Apple,” he exclaimed.
Buterin, an advocate of crypto adoption, while retracing his 1000x remarks said that a 1000x adoption was very much possible. ETH prices will, no doubt, be helped by a wider adoption of cryptocurrency.