Price Analysis

Ethereum (ETH) Price Analysis: Will ETH be Back to Two or Four Digits?

ConsenSys has recently confirmed that ETH is performing better than BTC. Introduced by Vitalik Buterin, ETH is a blockchain platform that helps many other cryptocurrencies to exist in the crypto sphere without having their very own blockchain. ETH is referred to as the queen of the cryptos with BTC as the king. ETH helps developers to build smart contracts that can automatically execute tasks when certain stated conditions are met.

Current status of ETH

ETH is currently traded at USD 142.03 (UTC time 04:19). It is currently running on a bearish trend by -0.22%. Its present market cap is worth of USD 14,982,385,055 with a circulating supply of 105,486,433 ETH. It is the 2nd largest cryptocurrency in the crypto sphere.

Price analysis of ETH by Ethereum charts

EthereumETH is currently getting traded at 142.03 USD or 0.03392761 BTC (UTC time 04:21). Its present market cap has a value worth of 14,982,499,266 USD with a 24h volume of 4,467,498,901 USD. The same chart shows that approx. One month earlier, ETH had a trading point of 142.12 USD. So, in this duration, the value of ETH has been reduced by -0.06%.

Future price prediction of ETH

According to the influential technology expert, Ian McLeod, ETH is possibly to reach $500 by the end of this year as he forecasted that ETH could experience a global and monumental breakout. Nigel Green, CEO of the deVere Group, thinks that ETH can trade more than $2500 by this year. He stated three main reasons behind this prediction. He said that as there is an increasing demand for smart contracts, decentralization of cloud computing and more demand for digital currencies, ETH has high chances to spike up this year. According to Brian Schuster, the founder of Ark Capital LLC, ETH is predicted to trade around $100,000 in the next five years.

Conclusion

The above price predictions clearly indicate that ETH will upraise in the future. It can be a good option for long term investment. Moreover, cryptoanalysts also have assumed that BTC can lose 50% of its valuation to ETH in the upcoming days. Thus, making it evident that ETH is promising crypto by its performances also.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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