So you want to get a good idea of the Ethereum Price Prediction for 2018?
There are many facets to this coin that make it a top pick for 2018.
Lets get into some of the information available to ry and understand why we are positive that this Ethereum Price Prediction is pretty much a solid reason to buy ethereum in 2018.
Introduction to Ethereum
Vitalik Buterin introduced Ethereum in 2014─ although there were already a number of popular cryptocurrencies at the time. This is primarily because it was developed to improve on what developers believe to be flaws in existing cryptocurrencies. Ethereum, unlike other cryptocurrencies, had an edge with the blockchain technology which builds projects and applications through its platform by means of Smart contracts. For these programs to be created Ether (ETH), which its currency is called, makes everything operate.
During the pre-sale of Ether on July 22 to August 5, 2014, the price of 2000 ETH per BTC is 572 – 632 USD, it linearly declined after 14 days to 1337 ETCH per BTC or 592 – 471 USD. For the first three years, the growth of ETH may not be as big as the famous Bitcoin. However, it always remained as the second biggest cryptocurrency in the crypto space. A lot of crypto investors and analysts trust the background, history, and the future of the currency.
Eth Price History
During the first two years of Ethereum, its price played just around $1 to $18 per ETH. In January 2016, the price of Ether was trading around at only $1, but it considerably increased when the public invested in Decentralized Autonomous Organization (DAO), the biggest Initial Coin Offering (ICO) in history. The project was entirely funded through Ether. In May 2016, an all-time high price of ETH was recorded at $14.80.
The year 2017, though, had been a good year for Ethereum. The increasing public interest in Cryptocurrency trading has pushed other developers to create and launch their own tokens and offer an ICO for funding. Most of these tokens are hosted in the Ethereum network and their currencies are mostly ERC20 compliant.
ERC20 is a listing of rules for all Etherium-based tokens to comply with, and this allows token developers to find ways to optimize their new tokens for working within the Ethereum system. It helps developers to create tokens that are compatible with other tokens as long as they abide the rules. Most of the tokens developed through the Ethereum system are ERC20 compliant.
Among these tokens include the EOS, which is known for having the highest grossing ICO so far, with a market cap of $6 Billion and priced at $11, beating the DAO. This caused a major increase in the price and the market cap of Ethereum since it is Ether that is being used as the main catalyst for most projects. With the prices of these cryptocurrencies continuously rising, the price of Ethereum is also expected to increase.
Ethereum Price Prediction 2018
The Ethereum Price Prediction can be understood to be bullish for 2018, there are many factors that need to be accounted for in order to understand the Ethereum Price Prediction. Bitcoin, as the biggest cryptocurrency, holds more than 40% share of the whole market. However, the current market capitalization of Ethereum is $129 Billion, this is now more than half of Bitcoin’s current market capitalization of $245 Billion. It is also important to take note that the price and the market cap of Ether are seen in an upward direction since the end of 2017.
In just a year, Ethereum had grown by 3,000% and in December 2017 alone, it grew by 180% with a closing price near $720 with a market cap of $70 Billion. The year 2018 has just started but the cryptocurrency has already entered the $1,000 mark and is currently trading around $1,300. Its market cap is just a little below $130 Billion. It is expected to reasonably stay around $1,000 or double or triple the price depending on the time invested.
It is also important to note the fundamentals of Ethereum. Presently, there are 96 million Ether coins in circulation. The demand for Ether is expected to continuously grow over the coming years because of its functionality for the Smart Contracts and for the creation of new programs in the Ethereum blockchain. Ethereum Smart contract is something which Bitcoin doesn’t have. There is also the Ethereum Decentralized Apps (DAPPS), which if more are built and developed, the higher the price of Ethereum will become. With the current price trend of Ethereum in the market and its fundamentals, it can be predicted that $2,000─ or even $5,000, will possibly be reached before the end of 2018.
Everything has its risks, so no matter how bullish the market seems for Ethereum, there are still risks to be careful of and to overcome. First is that the increasing number of users in the blockchain, though advantageous, also has a disadvantage. It can have a negative effect on the transaction time, as it will take longer for the transactions to be written into a block. This is called the fork problem. To this day, there is still no solution for it, and users are hoping that Ethereum can develop an innovative solution for this issue before it happens. Another problem is the increasing number of ICOs, and how it seems so easy for companies to develop new cryptocurrency tokens. Having a lot of cryptocurrencies will make the market more competitive, yet also more confusing.
There is still a lot more to for Cryptocurrencies to understand and develop. Presently, the market is very bullish, more especially to Ethereum. Though there are risks, like the Stock Market, crypto investors trust that Ethereum will go even beyond Bitcoin within the coming years.
Our final Ethereum Price Prediction would be between 2000 and 5000 USD for 2018.
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