The task of predicting the future price of any cryptocurrency is both thankless and grueling. As a matter of fact, even the best predictions are nothing more than mere expert opinions. This is largely due to the volatility of the coin market. For Ethereum, it’s a little different than most because it has shown a consistent rise since 2014 and is actually offers useful products for the market.
Many have given their take on this. In fact, a certain group of cryptocurrency experts contend that Ethereum will surpass Bitcoin in the near future. This event is dubbed ‘flippening’. It may very well come to pass because the smart contract invention has proven remarkably useful.
The Potential for Growth
Ethereum can grow due to certain factors;
- Use cases- Ethereum is a versatile cryptocurrency. Developers can build and deploy DApps across a diverse range of industries. This could be a real driver for growth.
- DApps- Yes, these unique applications in and on their own is really promising. Real world solutions that rely on DApps such as the Augur exchange are testament to their problem solving capabilities. DApps will be crucial in determining ETH’s price
- The popularity of ICOs- Ethereum Is the go to platform for launching ICOs. Tokens are usually purchased using ETH. How well these operations fare in the near future is important for the price of Ethereum.
On the contrary, the following could place a ceiling on growth. The bad reputation of fraudulent ICOs for one is a major blight. These ICOs have brought forth tighter regulations on this industry by countries like China and tech giant Google. As noted earlier, the smooth operation of ICOs is crucial for sustained growth.
Other issues include future scalability problems, intense competition from alternative smart contract platforms like NEO and smart-contract security concerns.
What Are Prices Going To Look Like in Q2 2018
At the moment, Ethereum is hovering around the $550 mark. This is well below the $1000 mark at the start of the year. If all hold well, the highest Ethereum is projected to hit is around the $1500 mark by close of year. However, given the recent turmoil, this is an extremely rosy picture and prudent analysis would suggest otherwise.
In the worst case scenario, is it possible to wake up and hear news that ETH is no more? That is very likely improbable. Even in mad-Max type negative speculation frenzy, the use smart contract utility will endure.
At the end of the day, even Vitalik Buterin himself has a caveat on his invention. He is quoted as saying, ‘invests only what you can afford to lose.’ I wouldn’t dare disagree.