Table of Contents
- Ethereum Technology Value
- ETH Price Analysis for 2018
- Popularity Trend
- Ether Price Expectations for 2019-2020
- Constatinopole Hard Fork Impact
- Price Predictions from Tom Lee and Joseph Raczynski
In terms of price fluctuations, the cryptocurrency market had a difficult year. It was also challenging for the third largest market capitalization cryptocurrency – Ethereum. Nevertheless, during 2018 its popularity was growing, even against the background of a general market decline.
Therefore, today many people are interested in the Ethereum forecast and Ethereum price prediction for a more distant future: in which direction will the ETH rate move? Is investing in Ethereum a good idea? What is Ether future price? These and other questions will take place in this article.
What is Ethereum (ETH) Value?
Ethereum blockchain is a crypto that was based on unique technology. The coin was not a classic Bitcoin fork. This digital currency came as a result of multiple attempts to make the bet Bitcoin alternative. One of the prominent advantages were so-called “smart contracts”.
Smart contracts allow you to digitally register any transactions without resorting to traditional legal procedures. Smart contracts ensure that the exact terms of any agreement are fulfilled before the transaction (of info or value) is made. Bitcoin also can be used for smart contracts deployment, but the Ethereum digital platform is superior in that regard.
The creator and main ideologist of Ethereum is Canadian developer of Russian origin Vitalik Buterin. Ethereum as a cryptocurrency appeared at the end of 2013, and the launch of the main network occurred on July 30, 2015. The new digital platform was fast to gain appreciation.
In the second half of 2014 during the fundraising through crowdfunding Ethereum distributed the initial amount of coins through a 42-day initial public offering, receiving $18.439.086, that is equivalent to 60.102.216 Ether. After that, it attracted the attention of many banks as a test platform for studying smart contracts and bonds. The coin became well-known all around the world and the crypto market reflected it.
Over the years of its existence on the market, Ether had its ups and downs, which eventually promoted further ETH development and made it more popular and demanded. However, the last year was difficult not only for the Ethereum but also for the whole cryptocurrency market.
That’s no wonder, that since the last quarter of 2018, ETH has fallen by about 93% from its historic high, reached in mid-January $ 1.390. Though, most experts predict a quite positive development picture for Ethereum over the coming years.
You can find more info on ETH investment in the ‘How to Invest in Ethereum’ article.
Ethereum (ETH) Price Graph Analysis for 2018
For the most part of 2018, the Ethereum price chart has been demonstrating a descending trend. As for Ethereum (ETH) price analysis, most experts predicted a stable rise for currency over the previous year.
However, the last events influenced the market in a different way. The decline in trading activity, the correction of the cryptocurrency rate and the general decline of the market led to rather a sharp collapse in the Ethereum price history.
During the last year, the Ethereum (ETH) price dropped from almost $1.390 to $ 120 (for 08.02.2019). The Ethereum (ETH) price was failing gradually, with short recovery periods.
The market situation is very poor for the industry. Ethereum is a major platform for both dapp development and new token offerings. Any damage to the platform delays the future market increase. Still, Ether had no reputational damage and remains one of the strongest players on the cryptocurrency market.
The further Ethereum (ETH) price prediction largely depends on the events in the roadmap planned by the network developers for 2019 and announced by Vitalik Buterin. It is probably also important to mention that the whole blockchain industry is dependent on the success of Ethereum.
You can always check out the current price of ETH and exchange it at the best ratehere.
Ethereum Popularity Trend
It is apparent that the coin loses attention silmutaniously with the price. The recent position of the coin’s price looked like a low point and its no wonder the interet is also decreasing. The downfall in search traffic is not very steady. The interest increased several times and clearly shows the ability of Ether to gain its media attention back.
Ethereum is widely known all around the world. However, the coin has exclusively high appreciation in China. China is one of the biggest participants of the wolrd’s economy and cryptocurrency industry wasn’t an exception.
This crypto is also valued high in Malta, Singapore, South Korea, Switzerland, several African countries and many others. The reach of the Ethereum technology is very impressive. Still, the previous year was trully tough for the blockchain world. The future of any cryptocurrency is pretty obscure.
It is very hard to make a price prediction for most blockchain-based coins. Anyway, it seems like the cryptocurrency world is far from an end. The crypto world can reverse the trend just by continuing to provide demanded and useful products.
The advanced ability of Ethereum to provide new blockchain-based products is one of the main indicators behind any reasonable ETH price prediction. Let’s get through our view on the future of the crypto.
Ethereum (ETH) Price Predictions for 2019-2020
Ethereum isn’t just a cryptocurrency, primarily it is a technology and a platform for creating decentralized (DApps) applications. The basis of Ethereum technology is the use of smart contracts, on which basis the tokens operate, and therefore most of the popular tokenized projects.
From November 2018 to the beginning of February of this year, ICO-projects sold about 736 thousand Ethereum coins. Only at the turn of November-December, 400 thousand ETH were sold. Thus, 39.000 ETH was sold on December 11, and on December 14, 45.000 ETH were sold on the market.
At the end of 2018 the volume of transactions in the Ethereum network reached an all-time high. In December 2018, the total transaction volume set a maximum of 115 million, despite the fact that in summer this figure was below 50 million.
These and other events show us a steadily growing interest in this cryptocurrency coming from other projects. Every new Ethereum-based coin widens the reach of ETH, making it more popular and increasing its price.
Today, most experts agree that in Ethereum price in 2019 will increase slightly, but the repetition of the growth rates of 2017 – the beginning of 2018 with a 140-fold increase (from $10 to $1.400) will no longer take the place.
After the planned Constantinople hardfork occurred on block #7,280,000, the protocol was changed from PoW (proof of work) to the Proof-of-Stake (Casper), which will provide:
- A threefold increase in throughput
- Increase the speed of payment transactions
- Reduced cost of GAS (auxiliary domestic currency)
- A delay for the “Difficulty Bomb” (18 months)
- Block reward decrease from 3 to 2 ETH
With the introduction of PoS, the complexity of the network will increase, which will certainly entail an Ethereum price rise in the rate. Still, any investor should be cautious in making predictions on the price movements caused by the fork.
There is always a chance (not really high, but still) that the network will suffer from some code mistakes, which can lower the Ethereum price.
Tom Lee and Joseph Raczynski Predictions
As for the accurate Ethereum (ETH) price forecast 2019-2020, the opinions of experts vary.
Tom Lee believes that Ether price trend will be a reversal and will subsequently “grow strongly.” The analyst said that by the end of 2019, the ETH rate would reach $1.900 per token.
Meanwhile, the Ethereum price expectations by Joseph Raczynski sight (Joe Technologist founder) are different. He expects, that Ethereum (ETH) price trends in 2019 will be also positive but rise maximum to $1.200. The success of the coin, in his opinion, could be achieved due to the influx of large capital and the fact of talented developers in the team.
We expect Ether price to grow at the end of 2019
Ethereum (ETH) price predictions from Changelly’s sight are also quite positive. According to the results of the first half of 2018, we came to the conclusion that ETH will reach new peaks by the end of 2019.
We hope to observe the Ether price rising at the beginning of 2020. We believe that ERC-20 projects that are successfully developing today on the ETH platform will strengthen its position and provide the basis for further growth.
What is Ethereum price in 10 years? It is difficult to make an accurate prediction. All experts agree on one thing: the ETH price will grow steadily over the coming years.
Summing all above, this is a good asset for the long-term investment, that could bring good profit for the people who have patience. HODL!📈
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. While price analysis is a useful tool, it should not be considered predictive for the future performance of any investment vehicle.
Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment. Website personnel and the author of this article may have holdings in the above-mentioned cryptocurrencies.