Ethereum is the second largest cryptocurrency in terms of market capitalization. It is the product of Vitalik Buterin. The Ethereum platform, enables dozens of cryptocurrencies to exist, without having to build their own blockchain technology. Furthermore, Ethereum enables developers to set up smart contracts, that automatically execute tasks when certain conditions are met. Ethereum has two main functions of keeping things running seamlessly by compensating the mining nodes and paying people under the smart contracts platform.
Investing in Ethereum in 2019
Just like any other cryptocurrency, investing in Ethereum in 2018 was a challenge. However, at the start of 2019, investing in ETH seems to a good venture based on market performance. Ethereum has shown positive signs as it increased significantly against the dollar by surging towards the resistance at $200. However, due to the general correction in the market, the price of Ethereum was unable to break the resistance at $200. After trending sideways for many days, the price of Ethereum fell from the $183 level to the $165 level. By the time of writing, Ethereum was valued at $164.01. However is it still worth it to invest in ETH in 2019? To understand this question we need to look at what some market experts are predicting.
Ethereum Expert Prediction
Predicting the price of any cryptocurrency is always a challenge based on market volatility. For Ethereum, a number of experts have taken a keen interest in the cryptocurrency considering how important the Ethereum blockchain is. The recent drop in Ethereum price has been attributed to the high number of fake projects being established on the platform. A lot of Initial Coin Offerings used the protocol of Ethereum in 2017 and 2018 were fake. Ethereum is now the one paying for the sham motives of most of these projects. The massive decline in the value of Ethereum is as a result of the low rate of new Initial Coin Offerings coming in the market. Investors are now aware, hey now have a better understanding of the landscape. This reputation has made investing in Ethereum a challenge. But what do experts say about Ethereum value in 2019?
Raczynski is the founder of Joe Technologist.com and a blockchain enthusiast. He has predicted that by close of 2019, ETH will close the year at $1200. He stated that the Ethereum network has the largest developer community and that Ethereum’s proof of concept is popular among institutional investors. This capability will propel Ethereum to greater heights. This prediction makes investing in Ethereum worth it.
Ian McLeod is an influential technology expert at Thomas Crown Art. He predicts the value of Ethereum to hit over $500 by 2019. He recommends investing in ETH because the cryptocurrency might experience a global and monumental breakout. The technology expert also mentions that BTC might lose 50% of its crypto market share to ETH. McLeod thinks the crypto share will significantly shift in the coming five years.
The deVere group, one of the leading International Financial consulting firms’ CEO Nigel Green, predicted that Ethereum would reach over $2500 by 2019. According to green, the bullish run of Ethereum will come due to three factors; more platforms used for trading and more demand for digital currencies, increased use of smart contracts and the decentralization of cloud computing.
The Walletinvestor website is known to issue non-optimistic cryptocurrency price prediction. All the predictions are based on technical analysis. For Ethereum, the website opines that investing in Ethereum is a bad idea. The platform predicts a further drop in the value of Ethereum. According to present data on Ethereum (ETH) and potentially it’s market environment has been in bearish cycle last 12 months (if exists). WalletInvest AI cryptocurrency analyst implies that there will be a negative trend in the future and the ETH are not a good investment for making money. It recommends a big no when it comes to investing in Ethereum.
A bigger list can be noticed on our ethereum expert price prediction article.
What does The Future Hold For Ethereum
Ethereum can heavily boost its price and embark on an upward trajectory. Experts assume that the cryptocurrency will witness high mass adoption in the coming months. Therefore, Ethereum will rise with strong capitalization and consequently a concrete value per coin increase. However, It might experience frequent ups and downs in the first and second quarter. From the third quarter, it will start growing at a steady pace. Ethereum might, therefore, hit around $484 in July to over $1000 at the end of 2019. This makes investing in Ethereum worth it.
Before investing in ETH, note that most cryptocurrencies should perform based on the performance of Bitcoin. Bitcoin is the largest cryptocurrency and when it surges in prices, the rest of the cryptocurrency market follows suit and vice versa. Therefore, the general performance of Ethereum will be determined by Bitcoin’s performance.
Verdict on Investing in ETH
Ethereum’s position as a major cryptocurrency cannot be disputed. Recently, it has scaled new heights quite consistently. Based on this reason, most investors are considering Ethereum as a long-term investment bet. Before determining whether to invest in Ethereum or not, you need to understand that you have to look into the usability as well as the application of the cryptocurrency. With an understanding of Ethereum’s usability and application, it is easier to understand how its value can appreciate in the coming months. With Ethereum, the underlying capability provides decentralized processing power as well as bandwidth. Owing to this fact, Ethereum is different as compared to other tokens which are just a token for investment. This also means that the value of Ethereum would increase in the future. However, it is not easy to settle on a specific price for Ethereum. Therefore, it is worth investing in ETH in 2019.
In 2019, we expect to see an increase in Ethereum application use. Additionally, we expect to see more companies adopt decentralized cloud-based applications. Lastly, we should expect an increase in the use of smart contracts.
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