Expert Opinion: Ethereum (ETH) Price Prediction For Q2 2018
The task of predicting the future price of any cryptocurrency is both thankless and grueling. As a matter of fact, even the best predictions can come short. 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 did contend that Ethereum could surpass Bitcoin in the near future. This event is dubbed ‘flippening’. Talk of this is largely gone because Ethereum is now in a battle for second place with Ripple. XRP has since overtaken Ethereum as the second most valuable coin in the space.
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 a testament to their problem-solving capabilities. DApps will be crucial in determining ETH’s price
Switching to Proof of Stake- Ethereum will switch to Proof of Stake around 2020. POS mining mitigates scalability issues and makes mining energy efficient.
Scalability has been a challenge for Ethereum but with the implementation of Ethereum Serenity and Constantinople fork, this will be a problem done with. Solving scalability should improve prices. This is because Ethereum applications will run smoothly and consequently better adoption.
The drawbacks to growth include intense competition from alternative smart contract platforms like NEO and smart-contract security concerns and increased ICO regulation due to fraud.
Ethereum Price Prediction update
The versatility of smart contracts will either ensure Ethereum and related ERC-20 tokens, remain relevant and explode in future or cushion its fall in case of a full-blown crypto-meltdown.
At the time of writing, the Ether price was about $120. This is around about the year’s low and caps off what has been by all accounts a miserable outing. In the next year, prices should rebound, though not fully because POS implementation will only come in 2020. That said, the ceiling for Ethereum by year’s close is $200.
In 2019, a positive market should see highs of up to $500 if DApps usage rises and coin markets rebound. In 2020 when POS kicks in and scalability issues begin to wane, the price could reach the highs of late 2017 north of $1,000. Ultimately, coin prices are ongoing concerns but should these estimates hold or perform better, Ethereum is in for a bright future.