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Here’s What The Crypto Trading Experts Think Will Happen To Ethereum (ETH) Price This Year

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Here’s What The Experts Think Will Happen To Ethereum This Year…

As most of our readers probably already know by now, Ethereum is an open-source platform that has been devised to help developers create smart contracts and dApps that are free from the interference of third party entities. Also, the platform comes prebuilt with its very own currency, Ether, that is based on blockchain technology and makes use of a distributed ledger system.

Ethereum’s Rocky Financial Journey

Over the course of the past few years, Ethereum has transformed into a legitimate ‘store of value’ — so much so that the premier altcoin was able to scale up to an amazing price point of $1,400 during December 2017.

With that being said, owing to a host of different economic factors, predicting the price of Ethereum has never been easy— especially since its role has been considerably different from that of Bitcoin (another crypto asset that has experienced massive economic turmoil over the past year or so).

Predictions Galore

(i) Matt De Silva: Matthew is a crypto analyst who has been critical of Ethereum and Vitalik Buterin from the very start.

For example, he had predicted that the asset would drop to around the $180 mark last September, following which, it would continue its descent into the abyss.

Additionally, Silva has also stated in the past that Buterin’s Ethereum platform was launched prematurely as a result of which the system “lacked an equitable distribution model”. If that wasn’t enough, he also believes that Ethereum has not been able to have a major impact on the market at large — expect for the fact that it was a major contributor to the crypto bubble of 2017.

(ii) Aayush Jindal: According to analyst Aayush Jindal, Ether is all set to witness more economic stagnancy as we move into the future. In his opinion, if the premier cryptocoin is not able to rise above the $515 mark, it will continue to slide and maybe even drop below its current levels.

In a recent interview with Express.co.uk, Jindal was quoted as saying:

“The current technical structure will remain negative as long as the price is below $515, but a successful 2-hour close above this level may perhaps decrease the current bearish pressure and open the doors for a fresh upward wave. On the flip side, the recent low of $477.31 may act as decent support, the next buy zone being around $450. Overall Ether could consolidate in the short term, but it remains at risk of more losses until there is a break above $515.”

(iii) Joseph Raczynski: According to Raczynski’s recent posts on Twitter, the crypto analyst firmly believes that Ethereum still has the potential to scale up to the $1000 mark sometime this year.

Also, in an interview with Finder.com, Raczynski went on record to state that he would not be surprised if Ethereum witnessed a massive economic surge in the near future, and rose to a price point of $1200 by the end of Q1 2019.

He based his bold predictions on the following analyses:

  • ETH’s Proof-of-Concept protocol has been gaining more and more traction amongst leading institutional investors.
  • Ethereum currently boasts one of the largest and most active developer pools in the world.

(iv) Clem Chambers: The ADVFN topman is of the opinion that Ether will most likely scale back to it’s all-time-high value of $1400 by the end of this year. This, in Chambers’ opinion, will happen because of rising consumer interest and overall demand for crypto assets.

In this regard, while speaking with Forbes recently, Chambers went on to state the following:“The past doesn’t predict the future blah blah blah…. But you would be a fool not to watch for Ethereum and Litecoin to start rallying as a potential signal for the crypto market bottom we are all waiting for and last year it gave plenty of advanced warning, so will likely do so again after the ‘Bitcoin is Dead’ headlines hit the mainstream press.”

(v) Nigel Green: The deVere Group Boss believes that Ethereum has the potential to scale up to around the $2,500 mark by the end of the year. This, in his opinion, will happen because of the following reasons:

  • The number of use cases associated with ETH (in relation to other platforms) has been on the rise over the past 6-12 months.
  • More and more companies are starting to see the benefits of using smart contracts — digital tools that can be easily employed within the Ether ecosystem.
  • Nigel believes that the “decentralization of cloud computing” will help drive the price of Ether much higher as we move into the future.

(vi) Steven Nerayoff: Mr Nerayoff believes that by the end of December, Ethereum will close in on the $3,000 mark. This is because the currency’s ecosystem is currently being used by a number of firms who have pumped in billions of dollars into the digital asset.

With that being said, it is also worth noting that Steven had previously predicted that Ether would be sitting at a comfortable price-point of $1,000 by the start of January 2019— a forecast that has not yet come to fruition.

(vii) Olaf Carlson-Wee : Polychain Capital CEO and well-known crypto analyst Carlson-Wee believes that 2019 will see Ether scale up to a value of at least $7,000. Carlson’s prediction is based on the fact that Ether’s native programming language is devised in a way that will help the asset grow as we move into the future.

However, as things stand, ETH’s overall market cap still lags behind XRP’s.

Additionally, in an interview with a respected media outlet during late-2018, Olaf went on record to say:“In Ethereum, this programming language is much more expressive and its higher level…so what we’ve seen in Ethereum is a much richer, organic developer ecosystem develop very, very quickly, which has what driven Ethereum’s price growth, which has been much more aggressive than Bitcoin…so maybe by the end of 2018.”

(viii) Jeff Reed: While most analysts claim that Ethereum will touch/hover around it’s ATH value by the end of 2019, Reed is of the opinion that the asset will become “more valuable than Bitcoin” in the coming few months.

In Jeff’s opinion, the Ethereum ecosystem not only has more technical capabilities than BTC but also comes with other dev-oriented tools that could very easily see the price of Ether soar above Bitcoin by the end of this year.

However, at the time of writing this article, Ethereum is sitting at a meager price point of around $115.

(ix) Brian Schuster: Even though Ether is struggling to stay above the $100 mark right now, Brian Schuster believes that the currency is destined to reach a price-point of at least $100,000 by the end of this year.

According to Schuster, the head of Founder Solutions, ETH will be able to achieve this feat because of its amazing SoV capabilities.

If that wasn’t enough, Schuster also believes that Ethereum can possess a market capitalization of $10 trillion within a few years time.

Last but not least, the crypto bull was also quoted as saying:“What if you believe that Ethereum is less like one individual business and more like a store of value, like gold? This gives us a potential market capitalization of roughly $10 trillion, leading us to believe that the price of Ethereum might rise as high as $100,000 per coin. We might even go one step further and say that Ethereum is not like one asset, but an asset to replace all currency that exists.”

Final Take

In rounding off this article, it is also worth mentioning that some independent analysts such as Mycotoxin and Keops (TradingView.com) are also of the opinion that Ether is destined to start rising within the coming few weeks and months.

It now remains to be seen how the future of this premier cryptocoin plays out from here on out.

Source.bitcoinexchangeguide

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Ethereum

Ethereum (ETH/USD) weekly forecast on February 18 — 24, 2019

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Cryptocurrency Ethereum (ETH/USD) is trading at 125. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend for Ethereum. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Ethereum (ETH/USD) weekly forecast on February 18 — 24, 2019

As part of the Ethereum course forecast, a test of level 135 is expected. Where should we expect an attempt to continue the fall of ETH/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 85. The conservative area for Ethereum sales is located near the upper border of the Bollinger Bands indicator strip at level 138.

Ethereum (ETH/USD) weekly forecast on February 18 — 24, 2019

Cancellation of the option to continue the decline in the rate of Ethereum will be the breakdown of the area of ​​the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of ​​145. This will indicate a change in the current trend in favor of the bullish for ETH/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Ethereum (ETH/USD) weekly forecast on February 18 — 24, 2019 implies a test level of 135. Further, it is expected to continue falling to the area below the level of 85. The conservative area for selling Ethereum is located area of ​​138. Canceling the option of falling cryptocurrency will break the level of 145. In this case, we can expect continued growth.

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Ethereum

Ethereum forecast and analysis ETH/USD for 2019

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Ethereum ETH/USD are traded at 123 and continue to move within the descending channel. At the moment, we should expect an attempt to reduce and test the support level near the region 75. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 800.

Ethereum forecast and analysis ETH/USD for 2019

An additional signal in favor of the growth of ETH/USD quotes will be a test of the rising trend line on the relative strength index (RSI). As well as a rebound from an important area of ​​support. Cancellation of the Ethereum cryptocurrency lift option in 2019 will be a fall and a breakdown of level 45. This will indicate a breakdown of support and a continued fall in ETH/USD quotes below the level of 12.50. With the breakdown of the upper boundary of the downward channel and the closure of quotes above the level of 210, we should expect confirmation of the development of an upward movement in Ethereum.

Ethereum forecast and analysis ETH/USD for 2019

Ethereum forecast and analysis ETH/USD for 2019 implies an attempt to test the support area near the level of 75. Where should we expect a rebound and continued growth of ETH/USD cryptocurrency to an area above 800. An additional signal in favor of Ethereum rise will be a test of the trend line on the relative strength index (RSI). The breakdown of the growth rate of the digital currency will be the breakdown of the region 45. This will indicate a continuation of the fall with a potential target below the level of 12.50.

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Upcoming Implementation Of ProgPow For Ethereum Algorithm Gains Support From Majority Of Voters

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The current roadmap for Ethereum shows that there are certain upgrades and milestones that the platform aims to reach over a 4-stage plan. The most recent stage is set to include a newly integrated type of PoW (proof of work) algorithm called ProgPoW. The algorithm is resistant to ASIC use and it will be used in place of the current algorithm, ETHhash. A new online vote through Ethereum shows that the majority of their voters are in favor of this change.

Since the algorithm will be ASIC resistant, developers will see a decrease in the efficiency of using ASICs over the generic hardware that could be used to mine, which essentially means that graphics processing units will be used. However, this update does not completely eliminate the use of ASICs.

The numbers on the Ethereum platform indicate that there’s over 76% of votes (628,000 ETH, which is about $76 million). There are 23% of voters, which accounts for 191,000 ETH ($23 million) that were against it.

According to the voting portal, the token holders are the ones that will take on the most impact from the changes made with the algorithm. By allowing ETH holders to vote, the developers can get a clearer idea of what the community wants than taking into account the comments that are anonymously posted in online forums. At this point, there is no timeframe for the end of the voting process, and the election results do not place any requirements on the voters.

A consensus in the implementation of the algorithm was reached earlier last month, determining that the developers would delay the implementation. This delay gave them time to let the algorithm be audited by a third party at the beginning of this month.

Unfortunately, ProgPoW has faced a lot of controversies since it was announced, due to a post from a code contributor at Ethereum that said developers should embrace the use of ASICs. However, other members of Ethereum believe that the algorithm will not give the ASIC resistance that they expect.

Source.bitcoinexchangeguide

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