Ethereum is referred to as the reigning queen of the cryptocurrency market. Based on its market cap, it is the second most leading cryptocurrency, and it offers more than just a secure means of payment. Ethereum is a platform coin at its core. It permits other coins and decentralized applications to rely on the platform it provides. Like bitcoin, ethereum (ETH) is an open source software platform which has the basis of blockchain technology. It enjoys more base pairing on exchanges with bitcoin especially. A good tier persists in the prices of bitcoin and ETH.
Current status of ETH
At present, ETH is getting traded at USD 139.34 (UTC time 05:44). It has a market cap of USD 14,672,442,551 with a circulating supply of 105,296,243 ETH. Its value is currently following a bearish trend by -0.88%.
Price analysis of ETH on the basis of Ethereum charts
The above chart shows that at present ETH is getting traded at 139.49 USD or 0.03459682 USD (UTC time 05:48). It has a present market cap of 14,687,667,592 USD with 4,347,387,094 USD as its 24h volume. The same chart shows that approx. One month earlier, ETH had a trading point of 146.47 USD. So, in this approx. One month, ETH has been on a bearish trend by -4.76%.
Future prediction of ETH
The crypto market is highly volatile now. According to Joseph Raczynski, founder of Joe Technologist, ETH can reach $1200 by the end of 2019. He has considered the fact that ETH network has the largest community and its proof of concept is really recognized among institutional investors. The influential technologist, Ian McLeod, has predicted that ETH can reach $500 by the end of this year as it can experience a global upsurge. He even added that BTC could even lose 50% of its valuation to ETH in 5 years. According to Trading Beats, ETH is susceptible to reach $650 by the end of 2019. If the crypto market improves greatly, then, after five years, ETH can be traded at around $3844.
So, keeping all these considerations in mind, ETH is a great option for the investors to invest for long term basis. Even, one can invest in it at present and can get a handsome return in the upcoming future.
ETH is definitely one of the promising digital currencies with expanding community. Many other cryptocurrencies have the platform of ETH. In spite of the volatile market, ETH price will have a tendency to be on a bull trend, and thus, it is a great option for long term investment.