Analyst Explains Why Ethereum ETH Is Having Trouble Gaining Despite Major Endorsement And BTC Price Surge

Ethereum price prediction 2019 was bullish at the beginning of the year. The second largest cryptocurrency per market capitalization gained significantly during the first quarter of 2019. The increase in the price of Ethereum started just before the Ethereum Constantinople hard fork and continued long after. However, following the surge in the price of cryptocurrencies in the first week of April when the price of ETH nearly hit $200, it has been on a steady decline. The Ethereum community isn’t sure why the price of Ethereum is flat despite all the achievements that have been accomplished recently. An article on NewsBtc explains why Ethereum price is stalling at this time.

Ethereum Price Prediction 2019 – Ethereum Price Forecast – Ethereum News Today – Why Is The Price Of ETH Stalling?

A few days ago, as reported by smarttest.wpmudev.host, Elon Musk And Vitalik Buterin had a conversation about Ethereum on Twitter which ended with Buterin telling Musk of the listing opportunities that can be executed on the Ethereum blockchain. These kind of conversations with public figures typically lead to a surge in the price of Ethereum. When Musk made a joke about being the CEO of Dogecoin on April fools day, the price of Dogecoin reacted with a surge. However, following his conversation about Ethereum, the price of ETH only went up by a few points.

Ethereum (ETH) Price Today – BTC / USD

#NamePrice24H %
2
ethereum
Ethereum(ETH)
$142.95
-0.71%

As if the conversation between Elon Musk and Vitalik Buterin wasn’t enough, another catalyst that was expected to cause a surge in the price of Ethereum was the blockchain endorsement by Amazon. You see the tech and retail giant announced the debut of an Amazon Managed Blockchain tool that businesses can use for scalable blockchains. This move by Amazon proves that the world is starting to recognize that blockchain technology is the future. The entire market reacted to this announcement with Bitcoin surging above $5600. However, Ethereum only moved higher by a few points. Everyone expected these news to make the Ethereum price prediction 2019 bullish long and short-term.

The next industrial revolution would be led by several emerging technologies including blockchain. The blockchain transformation would be led by smart contracts and the Ethereum blockchain is the leading smart contract deployment platform in the world. Unfortunately, at this current stage of development, the Ethereum blockchain has not been able to achieve scalability. The issue of scalability is the one of the key factors that has prevented the large scale adoption of Ethereum and blockchain technology as a whole. However, the Ethereum development team has a solution to this problem and they are already approaching the end of this implementation. By the year 2020, Serenity, the final version of Ethereum is expected to go live. This would solve the scalability problem and allow Ethereum to reach its full potential.

Ethereum News Today – Ethereum Price Prediction 2019 – Current Price Of Ethereum

At the time of writing, the price of Ethereum was crawling against the USD at $163.76. This means that it is up by 1.22% against the USD and down by 4.44% against the price of Bitcoin. The trading volume over a 24 hour period is $6,645,079,482 and the market capitalization is $17,344,014,550.

What do you think about the Ethereum price prediction 2019 in our Ethereum news today? Is scalability the main factor that is influencing the price of Ethereum? Share your thoughts in the comment section below.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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