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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 Classic [ETC]: Network numbers shoot up in the wake of EtherNode’s launch by ETC Labs

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Ethereum Classic’s [ETC] start to 2019 was quite uneventful as the Ethereum [ETH] hard fork was focused more on building its repositories, rather than partnerships and flashy developments. ETC ‘s upgrade phase has been obvious for some time now, with the focus on the network’s all-important Atlantis Network upgrade.

Latest reports reveal that the network numbers for ETC are healthy, as evidenced by factors like increase in market cap, transaction rate, and active addresses. The 24-hour statistics indicated that the cryptocurrency’s market cap had shot up to $657 million, while the trading volume held between the range of $390 million-$392 million. The 24-hour transaction rate was 41,618, which was much higher than the low 30 thousands that the cryptocurrency previously scaled.

Diligent fans of the cryptocurrency were ecstatic upon hearing the news, with @Drake_10 tweeting,“Perfect, that’s what all of us want to hear, We instantly retweeted this to our strong crypto community!”

The team at Ethereum Classic is concerned with the value of personal data and how it has grown exponentially over the past decade. Another point taken into consideration by ETC was the magnitude of the effects of personal data and its inherent value. Taking data safety into consideration, Ethereum Classic Labs launched EtherNode which, according to the organization, is “the trio making trust minimization a reality.” ETC Labs elucidated,“We’re building infrastructure software and hardware to transform the way people connect to and interact with Ethereum blockchains. The EtherNode is a robust piece of hardware designed to not only host nodes but also serve as the base of a secure smart home network. It’s an easy plug and play way to reduce dependencies on 3rd party node hosts made possible by EnOS, the Linux based blockchain OS we’ve assembled.”

Source. ambcrypto

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Ethereum

Ethereum market update: ETH/USD stays above key demand zone – the potential for growth is immense

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  • Ethereum corrects lower 13.6% from April 2019 highs.
  • Ethereum escaped one range resistance only to fall into another whose upside was capped at $176.62.
  • The demand zone is strong enough to hold off any dips below $160 in the short-term.

ETH/USD has continued to correct lower from the highs posted in April. The asset has lost 13.6% of its value in April alone. Attempts to recover and resume the uptrend towards $200 have been thwarted by selling pressure. In two occurrences the demand zone between $155 and $160 has worked as a key rebound area.

On April 18, Ethereum bulls pushed for a correction above the initial range limit at $170. However, Ethereum escaped one range resistance only to fall into another whose upside was capped at $176.62. Following several days of consolidation above the 200 EMA 2-hour, ETH/USD was caught up in the bear pressure on the market on Wednesday leading to a plunge not only below $170 but also next support target at $165. This time, the price formed a low at $161.01 and while taking advantage of the demand zone commenced the current consolidation phase.

At the moment, ETH/USD is trading at $163.21 and facing immediate resistance at $165. If the growing bullish momentum breaks above the initial resistance, the 200 EMA hurdle will hinder growth. Similarly, as long as Ethereum stays below the 200 EMA, the bears will continue to have an upper hand. Fortunately, the demand zone is strong enough to hold off any dips below $160 in the short-term.

ETH/USD 2-hour chart

 

 

 

source : fxstreet

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Ethereum

Ethereum [ETH] ProgPow implementation would lead to a drastic drop in hash rate, says developer

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Programmatic Proof-of-Work [ProgPow] has so far been one of the most talked about upgrades in the Ethereum community. The protocol that aims at making GPU mining more efficientagainst ASIC mining also raised questions pertaining to the governance of the ecosystem. This was one of the topics of discussions during the Eth1x/ Istanbul Planning, where Danno Ferrin, a blockchain developer, presented on ‘ProgPow: Flipping the Switch’.

Danno Ferrin spoke about the outcome of ProgPow implementation, assuming the transition happened after the audit was released and it gets scheduled for a Mainnet block. Ferrin stated that one of the results of the implementation would lead to a “dramatic” fall in Ethereum’s hash rate, adding that this would “not be the end of the world” as the work done would remain the same but it would be measured differently.

This was followed by the developer explaining the reason the hash rate would fall. He said,“The biggest reason is that the work done in ProgPow is about twice ‘hard’ as Ethash and part of that comes from the amount of memory access that goes on […] since this is a memory-hard algorithm, that is the primary motivator for how long it takes to calculate the hash […]”

Ferrin stated that the second reason was the different ProgPow periods have a different hash rates. He stated that the program run to calculate the Proof-of-Work would change based on the block number particular block number, adding that every ten blocks the “different randomly generated program is generated” with some being quicker and others being slower.

[…] and probably the biggest reason is the ratio between Ethash hash rate and ProgPow hashrate on a given graphics card is not uniform, it changes based on the vendor, it changes based on the card type […] and those are the things the miners get all excited about, to increase their margin, to increase their profitability […]”

Ferrin explained that the drop in the hash rate would have an impact on the block time and the difficulty bomb. Further, the developer listed the ways this could be handled, first: not addressing the issue. The second was to apply a one-time difficulty adjustment and the third was to apply a pre-algorithm “difficulty multiplier”.

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