Price Analysis

Ethereum (ETH) Price Analysis: Ethereum Will Rise Higher This Year

Ethereum, introduced by Vitalik Buterin is a platform that enables many other cryptocurrencies to function without having their own blockchain. It enables developers to build smart contracts that can execute tasks automatically when specific conditions are met. It pays people under smart contracts platform and helps keep things running smoothly with the compensation of the mining nodes.

Current status of ETH

ETH is currently getting traded at USD 143.72 (UTC time 02:45). With a market cap of USD 15,154,333,944 and a circulating supply of 105,433,227 ETH, it is the second largest cryptocurrency. It is currently on a bull trend by 2.85%.

Price analysis of ETH

EthereumThe above chart shows that ETH is getting traded at 143.71 USD or 0.03497117 BTC (UTC time 02:47). Its current market cap is traded at 15,153,691,874 USD and its 24h volume is worth of 5,417,691,063 USD. The same chart shows that approx. One month earlier ETH had a trading point of 138.49 USD. So, the value of ETH has been increased by 3.76% in this approx. One month period.

Future price prediction of ETH

According to Smartereum, ETH can trade around $500 by the end of 2019 and by 2020, it can spike up to $2,000. Joseph Raczynski, an eminent crypto enthusiast, believes that as ETH has a great and vast global network, it can reach to $1200 by 2019 end. Ian McLeod, an influential technology expert, assumes that ETH can be somewhere around $500 by the end of this year and he also said that BTC could even lose 50% of its crypto market to ETH. Trading Beasts think that the average price of ETH by the end of 2019 will revolve around $650.

Conclusion

ETH is a very reliable blockchain cryptocurrency that has high performance, and many consider its abilities greater than BTC. With the crypto market being highly volatile today, it is better for the investors to wait for some more time till it attains stability and becomes a good option for long term investment.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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