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Price Analysis

Ethereum (ETH) Price Prediction: ETH may Hit an All-Time High till December 2019

Ethereum (Ether or ETH) is a cryptocurrency as well as a decentralized computing platform based on blockchain technology. Having an ambition of becoming the largest platform for decentralized applications and smart contracts, Ethereum (ETH) is currently the second largest cryptocurrency by market capitalization. Not to forget that Ethereum was the first digital asset to introduce smart contract functionality into the blockchain. In 2015, a bunch of programmers including Vitalik Buterin, Mihai Alisie, Anthony Di Iorio, and Charles Hoskinson launched Ethereum. Surprisingly, the project was financed by issuing its own cryptocurrency. Furthermore, for regular use and developers, Ethereum helps create one’s own cryptocurrency to sell products or services and kick-start a project. Various day-to-day applications including systems for voting, real estate crowdfunding, lotteries, gaming, social networking, lending, money transfers, and more are already running on Ethereum technology.

EthereumToday, on April 18 at UTC 06:14, Ethereum (ETH) was trading at USD 171.57 with an ROI of 5,958.95%. At the same time, the market capitalization of it was USD 18,135,590,469 with a total of 105,705,927 ETH coins in circulation. Similarly, its price in against Bitcoin was around 0.03261364 BTC per chip. If one looks at the monthly change in its value, on March 24, it was trading at $ 136.99, 25-days later, currently it is trading at USD 171.57 with a hike of 25.24%.

Let’s analyze the historical change in the value of Ethereum (ETH):

  • All-Time High                                                             1,432.88 USD (Jan 13, 2018)
  • All Time Low                                                              0.420897 USD (Oct 21, 2015)
  • Yesterday’s High / Low                                            168.94 USD / 165.50 USD
  • Yesterday’s Open / Close                                          167.55 USD / 166.95 USD
  • Intraday Change (Yesterday)                                   -0.602929 USD (-0.36%)
  • Yesterday’s Volume                                                    5,596,102,715 USD

Prediction:

Not to forget that Ethereum technology is still young, with constant new developments and improvements. But the good thing is Ethereum (ETH) supports the creation of decentralized applications and is resistant to downtime, censorship, and fraud. These applications are run by “smart contracts,” which are computer codes. In the neoteric status quo, small term investors are advised to buy now and lose their holding till the next resistance. Long term holders need to wait until the end of the year. Formally in the trade since January 1, 2016, Ethereum (ETH) had been bouncing back and forth around $8 -$12 for a whole year. Nevertheless, its value started picking up since January 1, 2017. Looking at the trend over the course of time, Ethereum (ETH) may set a new all-time high by the end of 2019. Although it seems to be a long shot, it’s not unprecedented in case of cryptocurrencies.

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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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