Ethereum has been attracting implausible interest in the cryptocurrency world which has guide ETH market capitalization to grasp 21 Billion USD with more than 100 million ETH as its current circulating supply. It’s the second biggest cryptocurrency in the world and it was the first cryptocurrency to use smart contracts.
Ethereum was first launched in 2015 by a Russian-Canadian developer called Vitalik Buterin. It is a blockchain protocol through which users from all over the world can send and receive funds without involving a third party. For 2018, one Ethereum has equaled:
- Minimum: $179.824
- Maximum: $1,377.310
- Average: $594.098
Ethereum can do so much more beyond just performing financial transactions, unlike Bitcoin. In the crypto world, it was the first blockchain project ever that host smart contract technology, a piece of code that permits users to enter into an agreement without the involvement of a third party.
The smart contract is able to automatically transfer funds from one person to another, only when the certain conditions meet. Each and every single transaction that ever happens in the Ethereum network is readily available to view on the public blockchain, that makes the system more transparent.
Ethereum indicates a severe decline since the last month due to various reasons, including the ICO (initial coin offerings) sell-off factor displayed poor asset/liability management principles, causing them getting off guard with the price fall. ICOs sold 160,000 ETH in 2nd week of September 2018, which is almost three times more than the last month, resulted in about a 20% decline in ETH price. ETH was exchanging @ $170 earlier this week, which is almost 89% lower from its maximum rate.
Ethereum Vs. Bitcoin
As soon as you arrive at the exciting yet new world of crypto, one of the first things gets pops up on your mind the differences between these two, Ethereum vs. Bitcoin. It’s quite confusing, right? Researching cryptocurrencies and the methodologies and technologies behind them can be very baffling, that’s why I’d try to make it more understandable for you.
Bitcoin and Ethereum are the two major players of the cryptocurrency world at this very moment. Bitcoin (BTC) was the first crypto coin, and Ethereum (ETH) comes six years later. That means, Ethereum is six years newer and is far more advanced than Bitcoin.
First of all, you got to know that there are two kinds of digital currency:
- Cryptocurrencies (e.g., Bitcoin, Litecoin, Ripple, Monero, etc.)
- Tokens (e.g., Ethereum, Filecoin, Blockstack, Storj, etc.)
When you notice Bitcoin and ETH’s market statistics, the difference is somewhat minor — Bitcoin’s market capitalization is $147.3b, and Ethereum’s is $84.2b.
The key difference between these two are, Bitcoin is a “cryptocurrency.” Bitcoin and other cryptocurrencies are competing with fiat money (and gold) to replace them with a real-life global currency. A global currency which lets a person own their own cash (without relying on local banks).
On the other hand, Ethereum is more likely a “token.” Basically, what Bitcoin does for money, Ethereum does the same for its digital contracts, where it is stated “if this” happens, “then something else happens.” For example, If I sign on this paper, then I own the house, and you no longer own the house.
Up until now we are used to with these agreements with a signature at the bottom of a paper document. Ethereum intensely upgrades this feature as it is digital, and the evidence of the transaction can never be deleted.
Apart from this, I have mentioned some other noteworthy differences down below.
The Difference in purposes
Bitcoin’s purpose is to decentralize store of value — peer-to-peer digital money, used for financial transactions as alternatives of real-life money. It eradicates the role of any third parties in payment technology.
Ethereum’s purpose, however, is to offer and run decentralized smart-contract applications backed by powerful blockchain technology that never goes offline and cannot be altered by any means. It delivers its users a programming language and its own platform to build the applications on.
The difference in coin supplies
One of the critical differences is, bitcoin is limited to 21 million coins. Meaning, there will never be more than 21 million bitcoins in existence. It’s anticipated to reach this limit by 2140. While Ethereum is not limited (almost). The production of Ether is continuous. Though the supply of Ether will slow down a lot in future. But from another source, Vitalik Buterin, the creator of Ethereum, stated that the total number of coins would not go far above 100 million ETH in the “foreseeable future.”
The difference in block timing
The average block time is about 10 minutes for Bitcoin; however, Ethereum needs about 12 seconds. It emphasizes staying fast as well as maintaining quality via a GHOST protocol.
Some Key Methods of Predicting Ethereum Price Movements
Predicting price trend of anything traded at an exchange rate that is changing so frequently, is a very complex, tough and risky game – someone could be right sometimes, but no one can be completely accurate all the time. Many traders have lost piles of money, if not their life savings, into such attempts. No one can guarantee the future prices of Ethereum, but you can try to ‘guess’ it by following some of the methods described below.
Fundamental and Technical Analysis
The two of the primary methods of predicting price movement are called fundamental and technical analysis. While fundamental analysis considers the underlying forces of an economy or a company, technical analysis tries to determine the direction of prices based on previous market data, primarily historical prices, and volumes found on price charts. Investors’ emotional responses to price movements lead to identifiable price chart outlines. Technical analysts also evaluate historical trends to predict future price development.
A Bollinger Band®, established by famous technical trader John Bollinger, is a set of lines usually plotted two standard deviations (positively and negatively) away from a simple moving average of the Ethereum’s price but you can always adjust your preferences. Bollinger Bands® is a highly popular and widely used technique. Many traders believe the closer the prices move to the upper band, the more overbought the market, and the vice versa.
Read Experienced Crypto People’s Comments
Cryptocurrency market caps are growing super-fast. But still, it is too unstable and devious. People are just following each other’s action. (Some people buy it randomly or based on a Reddit post). So, if it is the case, it might be a wiser step to follow some experienced cryptocurrency guys and just follow their recommendations.
You can follow the man ‘’John McAfee’’ on Twitter, he has more than 500K followers, but I personally follow the guy from tradingview.com, named DLavrov, and he makes the most accurate overview as per my observation.
Read the Crypto News!
Don’t think it’s unnecessary. You would always want to be the first people to know if possible if Trump declares something like he is going to delete cryptocurrency from Earth. You might find some useful mobile apps for the crypto news as well, the good thing is, they even send you notifications on your screen if something big happens.
Read the Source Code
Reading or writing programming code is not everyone’s cup of tea, but that’s not rocket science either. The stronger their source code, the powerful the coins are. So, you may want to know how strong their core and security code. If you have a Computer Science background, then it’s a piece of cake for you, but if you haven’t, then a friend or someone from the same background or skilled in coding can help you out.
Learn Which Coin Is Doing What
Every coin is different in nature and features. Some of them provide with decentralized internet access, some of them work as quick money transfer system from a mobile device, so you better know your coin better! Know what you are financing into. Cross-check with your opinions. If you don’t have trust in digital currency or technology, then don’t go with the crypto-trends with your eyes closed.
Ethereum Price Predictions 2018
Ethereum is rapidly developing as a momentous cryptocurrency. In the last couple of days, it has climbed new heights pretty steadily. Last year in 2017, it is climbed by almost 3600%. This is one of the foremost reasons why most of the investors are also looking at Ethereum as a long-term investment bet.
To predict its future price movement, you will have to look into the usability as well as the application of this token, and then it would become easier for you to comprehend how its value can feasibly appreciate. When it comes to Ethereum, you will apprehend that it is the first capability that provides decentralized processing power and bandwidth too. That’s why Ethereum is much dissimilar as compared to the other tokens which are just a token for investment for users. This also means that the excellence of Ethereum will inevitably increase in the future.
Ehthereum in 2018
Many opinions are hovering online about the price prediction of Ethereum, but before investing you need to take your time to consider and analyze each and every single option you come across. In 2018, it is forecasted by some major investors and financial analysts that Ethereum would reach around $2,500. By the end of next year, 2019, it is expected that Ethereum would be somewhere around $14,000.
As we all have already witnessed Ethereum outpouring in January 2018 to $1337, the investors remain hopeful that it will reach as much as to $1,221 by this year-end in spite of the fall in August 2018.
However, Ethereum predictions 2018 fell from $470 to $260. That is almost 44% decline. It moves to its lowest mark in 2018 by falling below the $300 mark for the first time since early November 2017. As ICOs kept dumping large amounts of Ether on the market.
If you talk about ETH price predominantly, Andrew Keys, co-founder of ConsenSys Capital stated that 2018’s Ethereum price would reach $2,000. This observation of Keys has started creating more speculations regarding Ethereum price prediction in 2018.
As smart contracts and Ethereum based blockchain technology are becoming popular worldwide. The utilization is undoubtedly to develop more. Its price hike and the utilization ratio are directly proportionate.
Ethereum Price Predictions 2020 and beyond
2020 will attest to be the most outstanding year for Ethereum and other cryptocurrencies too. dApps will see an enormous acceptance in that year. In the first quarter, the maximum can be $2,100, the minimum being $1,929 in January. The second quarter can revolve around the $2,600 milestone. But after that, it again starts descending to the line below $2,500.
Ethereum price prediction advises that the Ethereum coin price is up for a long-term almost 730% in the ETH price value with a midterm 5-year investment. So, according to this, we can say this, the Ethereum Price can get as high as almost $4,000 in 2023. Some experts say this could be far more than Bitcoin Price. While some experts expressed that, at the end of 2020, Ethereum would be around $ 31,000. Time will say who is right or wrong.
There is no guarantee that any prediction will come true. Because if it were, we would all be wealthy by now! So, it is essential to ensure you always do your own sovereign study and analysis. And never invest just because a price prediction sounds good to you without even a bit of researching.
Ethereum Price (Eth to USD)
At this moment, ETH coin price stands at 232.46 USD as of 09:35:02(BST) – 30/09/2018. Ethereum is one of the top cryptocurrencies along with Bitcoin, Ripple, and Litecoin. Presently, ETH price is up 5.17% today. The entire global crypto market is down in the first week of this month. ETH is a primarily strong coin and once this quake goes off, the ETH price should see a trend reversal.
Changpeng Zhao, CEO of Binance, has told crypto has potential to see a thousand times in price hike in future. And we have already discussed the price prediction above, so you can learn what the investment opportunities based on this info are.
Ethereum is the earliest of its kind and original smart contract blockchain project, that’s the reason it has been the 2nd most popular cryptocurrency for a long time. Investors and users not only trust the platform, but they know that the team is really brilliant. So, I think that Ethereum will always be the number one smart contract platform for still many years to come.
Nevertheless, there is no guarantee, like I already said. And the developers really need to sort out Ethereum’s scalability issues. It’s great that they are working on numerous different ideas, but if it’s not successful or they take too long, then other blockchains could emerge and capture the market.
Blockchains that can process thousands of transactions in a second, and others are in the process. Japan has wholly regulated the cryptocurrency industry, for example, like the way they govern their financial services sector. This has caused in Japan has one of the highest trading volumes for the cryptocurrency, having more than 200,000 different real-world stores that accept it.
Analyze the world events
The cryptocurrency marketplace is one of the most unpredictable and rapidly-changeable industries in the world, with prices frequently going up and down without any apparent reason given. Nonetheless, when I analyze price predictions, I think the most significant thing is to closely notice the real-world events.
That includes things like regulations, updated and advanced technology, future developments, etc. On the other hand, other people choose to use chart analysis to guess the future of price, so it’s totally up to you which method you’d prefer to trust and adopt.
Ethereum is a global asset which anyone can trade in the world. The factors which affect its price are broadly varied, unknown and even sometimes highly unexpected. But you should not forget that Ethereum is not just a coin, it is also a great technology far beyond our imagination. Some experts suggest investing in the technology rather than in the cryptocurrency itself.
Ethereum is attracting a lot of investor attention since the proper utilization of the Ethereum platform. It is now at the beginning point. This utilization would undoubtedly improve in the years to come. And after that, the price of Ethereum would surge again too. Most of the ICO’s are working with Ethereum based Blockchain technology rigorously. This is another reason why Ethereum will last longer.
Buying Ethereum cryptocurrency is not that hard these days. Investors can register effortlessly on the different markets to buy Ethereum. If you don’t want to use your fiat money or have other cryptocurrencies in your stock. Then you can easily exchange those cryptocurrencies as well, to buy Ethereum.
So, if you’re in search for the futuristic prediction of the different cryptocurrencies. Ethereum is unquestionably one of the best possibilities which you can currently invest in. Nonetheless, you should consider the notable increase in the price of Ethereum during the last few months.
Hence, you should not wonder that the price of Ethereum can actually reduce in the shorter term. But you can be sure that the price of Ethereum would increase in the longer term. If you’re ready to sustain that volatility. And if you can afford to hold Ethereum for a longer time. You can be sure that it would be able to get you a handsome amount of return at the end of the day.