Be Ready To See Ethereum Price Spike: Amazon Managed Blockchain May Boost Ethereum

Despite the all bullish Ethereum price predictions, Ethereum could not make that surge. The Ethereum community isn’t sure why the price of Ethereum is flat despite all the achievements that have been accomplished recently.

According to the news on NewsBtc, Amazon now has an Amazon Managed Blockchain tool that businesses can use to create and manage scalable blockchain networks. It is an endorsement of blockchain, a day after Vitalik replied to Elon, listing opportunities that the platform can execute. Overly, this is bullish for Ethereum (ETH), and resulting demand may help lift prices above $190.

Perhaps because of this that Amazon is now dipping their toes, experimenting on the blockchain. With a new tool, Amazon Managed Blockchain, available in their management console that businesses can use to “create and manage scalable blockchain networks,” the world’s largest e-commerce platform said Ethereum is “well suited for highly distributed blockchain networks where transparency of data for all members is important.”

Presently, the platform may be struggling to scale and being a public blockchain where there are factions demanding consensus before implementation. No one entity controls the network meaning it is in the good books of regulators as a utility.

Ethereum News Today

A few days ago, 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.

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 this news to make the Ethereum price prediction 2019 bullish long and short-term.

Ethereum (ETH) Price Prediction 2019

Ethereum (ETH) Price Today – BTC / USD

Name Price24H (%)
Ethereum (ETH)
$198.41
-13.38%

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.

Ethereum (ETH) Price Analysis – Ethereum (ETH) can reach over 300 USD

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 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.

According to the latest Ethereum price analysis on cryptonewsz; Ethereum has been chased by the major business players including Microsoft, JPMorgan and among other technology giants interested in developing their own stablecoins to enable transactions using it as an underlying technology. The distributed ledger based platform has been taking giant strides to change the economic landscape globally and make blockchain integration seamless. The upcoming Ethereum hackathon organized by ETHGlobal on May 17-19, 2019 in New York is aimed to bring together the community of cryptocurrency enthusiasts, traders, investors, and business leaders and provide a sneak peek into the potential of distributed ledgers & blockchains. The event also brings together various thought leaders to speak about technology and provide networking opportunities. A similar event is planned in India (Bangalore) in the later part of the year to focus on the Asian innovators. It can be concluded from the ongoing wave for ETH that the price of the coin can reach over 300 USD by the end of 2019 and can reach over 500 USD in the next 2 years.

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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.

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