Like Bitcoin, Ethereum is an open software platform relying on blockchain technology that facilitates developers to build and deploy decentralized applications. It is a distributed public blockchain network. Although relying on the same platform, Ethereum is strikingly different from Bitcoin in terms of its capabilities and purposes. Ethereum blockchain helps running the programming code on any decentralized application whereas, Bitcoin offers a peer to peer electronic cash system that helps to make online bitcoin payments. In the cryptocurrency arena, if Bitcoin is the king, then, Ethereum is the queen. Ethereum is one of the most leading cryptocurrencies that helps in to make smart contracts.
Current status of ETH
ETH is currently getting traded at USD 133.21 (UTC 09:14). It is in the 2nd position in the present cryptocurrency market. It has a market cap of $14,017,740,990 USD with $4,068,945,182 USD as its 24h volume.
Price analysis of ETH by Electroneum charts
The above chart shows that at present ETH is getting traded at 133.34 USD or 0.03410737 BTC (UTC time). Its current market cap has a trading value of 14,031,370,354 USD with 4,064,792,467 USD as its current 24h volume. The same chart shows that approx. One month earlier, ETH was getting traded at 123.30 USD. So, within this approx. One month period, the value of ETH has been raised by 8.14%. So, its price range in this period has been on a bullish trend.
Future price prediction
Due to the intensive volatility of the current crypto market, the price of ETH has dropped significantly in the past few months. This increased volatility has surprised many global investors and has caused great concern regarding the future of the digital asset. Ethereum has already emerged as a major cryptocurrency due to its high-class performance, and in the last few days, it has been maintaining consistency in its bullish trend. This has ignited new hopes among the investors, and the majority of them are thing ETH as one of the best options for long term investment.
Many crypto analysts and technical analysts have predicted that by the end of 2019, ETH can be around $500 and by the end of 2020, it can be as high as $2000. We too think that as there are increasing application uses, more companies are getting inclined to using decentralized cloud-based applications and there are more smart contracts these days, so, ETH has high possibilities to cause a great stir in the crypto arena. 2019 can be a great year for ETH, and according to us, it can trade around $1400 by the end of 2019, and in 5 years, its price can hike up to $3844.
ETH is undoubtedly a great option for long term investment. With so many investors already relying on ETH, it has a high probability to stir up this year and in the upcoming years. Moreover, with the increase in smart contracts, its global recognition will intensify and can lead to a consistent bull trend.