Ethereum (ETH) Price Analysis: Ethereum’s Price on a Standstill With Break-in Bulls Reign
Ethereum is a public, open-sourced blockchain based platform, which features smart contracts. Ethereum is a platform that hosts its cryptocurrency called the Ether (ETH). Ethereum platform mainly served the users to build programs without the involvement of middlemen. It used central servers to store information that makes them less exposed to abuses of those intermediaries and authorities. It is the second largest cryptocurrency in the market with the market capitalization of 45 billion dollars. The Ethereum core facilitates the building of decentralized applications on top of the Ethereum blockchain such as on-chain digital assets (ERC-20 tokens), non-fungible assets, decentralized exchanges, DAOs, and smart contracts. These smart contracts are essentially the prominent feature of Ethereum.
Current Performance
ETH coins are being traded at 171.90 USD on April 11 at 12:24 UTC for its relative MCap trading at USD 18,154,551,455. Based on stats, Ethereum is the 2nd largest currency in the crypto market after Bitcoin. This is also evaluated based on the circulating supply of 105,610,809 ETH coins and its corresponding 24h volume worth of $7,969,924,114. Coinmarketcap assesses the proximate return on investment for this cryptocurrency to be 5,968.57%.
Market Expansion
According to Coinmarketcap, Ethereum had been trading at USD 14 billion and for 135.39 USD one month earlier on March 11. The overall market has been growing gradually throughout. Ethereum spiked significantly when the crypto market boomed at the beginning of April. The values jumped from USD 14,940,577,410 trading at 141.64 USD on April 02 at 05:44 UTC to USD 18,769,586,776 trading at 177.89 USD per token on April 04 at 02:44 UTC. The values hiked by 25.63% and 25.59% in 02 days. The market capitalization peaked crossing USD 19 billion between April 08 and 11. The current values have deflated from the peak with an insignificant difference.
Price Predictions for ETH
Ethereum’s market looks appealing with a major hike in prices. Based on the analysis, crypto experts estimate Ethereum would be trading close to 1400 USD around the end of 2019 and increase to an all-time high of 15000 USD in early November 2020. However, they expect a downtrend period from December 2020 to June 2022, with the prices decreasing to 4600 USD and a bottom of 950 USD. However, they forecast this to be a brief deterioration and that the prices would increase again by five year investment period.
Conclusion
The market, on the whole, is under the bulls rule and hence in favor of both long term and short term investment plans. This cryptocurrency is stable with its long years of involvement in the crypto market. Hence, as per our Ethereum Price Prediction and analysis, Ethereum will return high profits for long-term investments.
