The Ethereum ecosystem is going through a drastic change, and it is having a decent impact on the virtual world. The increase in blockchain projects is bringing a positive impact on Ethereum’s future.
Build dApps that were not even imaginable a few years ago
Today developers have the flexibility to build apps that were not even imaginable a few years ago. Ethereum with its advantages is expected to go beyond Bitcoin, and that is fascinating. Etheruem is promoting sci-fi technology that is not only changing virtual transactions, but it is also having a big impact on “how people save money.”
Ethereum will triple its current market price
Ethereum’s co-founder predicts that this cryptocurrency will triple its current market price and reach $110 billion. Last year in March Ethereum had witnessed a drop of almost 10%, and 2018 was not as good as expected for Ethereum followers. The trends changed from the start of 2019 and Ethereum peaked in January this year. The value of this cryptocurrency was $1,388.86 in January. Regulators have started getting an idea of the importance of cryptocurrency and the value attached to it. Founders of Ethereum are focusing on minimizing the risk attached to it. By focusing on the blockchain technology and making it easier for developers to build applications, the founders are focusing on adding convenience in every individual’s life.
Ethereum will be more secure
The reason Ethereum will be more secure is that the higher price will make the network more secure. Blockchain projects have started storing money in Ethereum ecosystem, and a drop in price will reduce the flexibility that they have today. More money means better ways to build projects. It is all about reducing legal risks attached to the digital currency and covering it with secure financial regulation. The fact that Ethereum is expected to go past Bitcoin gives stronger support to these bullish predictions. Some individuals are holding cryptocurrency just because it is expected to go up. But the Ethereum community believes that an increase in the market cap will be advantageous for the developers who aim to bring a change in digital transactions.
Ethereum Price Prediction 2020
The first prediction I wanted to talk to you about was released by an online analyst called Bobby Ullery. The model that Ullery uses is based on the global economy and the assumption that blockchain technology will play a much bigger role in international trade.
According to the analyst, Bitcoin and Ethereum will each hold 25% of the entire cryptocurrency industry, which he predicts will have a total market capitalization of $4.5 trillion in 2020.
Market capitalization is used to calculate the total value of a cryptocurrency, much in the same way as real-world companies are valued. It is achieved by multiplying the current market price of a coin by the total amount of coins in circulation. For example, if the value of the coin was worth $20 and there were 10 million coins in circulation, then the total market capitalization would be $200 million.
Now, in the case of Ethereum, although there is no fixed supply, Ullery uses a total coin circulation of 100 million as this is what Vitalik Buterin has suggested will happen.
So, considering all of the above, this particular Ethereum price prediction 2020 believes that Ethereum will be worth $11,375. This would give Ethereum a total market capitalization of over $1 trillion! So, is this possible?
For Ullery’s Ethereum price prediction 2020 to come true, it would need to increase its all-time high of just over $1300, by 775%. This actually isn’t an unrealistic prediction when you consider that Ethereum increased its price by 10,000% in 2017! But what do you think?
The next Ethereum price prediction 2020 I wanted to discuss was that by a prediction service called LongForecast. This particular analyst is less positive about the future price of Ethereum.
As you will see from the screenshot below, LongForecast estimates that in January 2020, the price of Ethereum will be $724. Then over the next 6 months, they think that the price will go up and down, ranging from a low of $474 up to a high of $672.
Ethereum Price Prediction 2020
These figures are well below the all-time high that Ethereum experienced in late 2017, so the analyst isn’t confident on its future. However, the biggest problem with this prediction service is that they do not give any explanation as to how they made the forecast.
This is really important information, but it seems to have been left out. In my opinion, for a price prediction to be valid, there needs to be a reason for the prediction that has been stated. This is why you should be wary of the predictions you find online.
Moving on, the next Ethereum price prediction 2020 I found was by CoinKir. CoinKir use technical price analysis to make predictions for the future. This is when you look at historical price movements and look for trends which could happen again in the future.
This is a popular strategy used in the real-world financial markets. However, financial markets often have over 50 years of data to look at, which the cryptocurrency markets doesn’t. Nevertheless, according to CoinKir, the price of Ethereum is going to do really well in 2020.
Their chart analysis expects Ethereum to start 2020 at around $720 and then slowly increase. By the end of 2020, they expect Ethereum to more than double, to $1488. This is an interesting prediction because it means that they don’t expect Ethereum to break its all-time high until November 2020.
If it does reach $1488, then it would give Ethereum a total market capitalization of approximately $148 billion. If this prediction is correct, it would mean that Ethereum will need another 18 months before it is ready to go on a big pricing run. This could be the case, as the team are working on various technical developments, which I will talk about below.
So, now that you know about some of the most popular predictions for the future of ETH, the next part of my Ethereum price prediction 2020 guide is going to look at some of the real-world events that could affect its price! Keywords: ethereum predictions 2019, ethereum price predictions 2020, ethereum price predictions 2019, ethereum price prediction 2025, ethereum price prediction 2019, ethereum price prediction reddit, ethereum price speculation