ETHEREUM (ETH): A SNEAK PEEK
While fiat currencies are losing their sheen in the recessionary phase of world economies, cryptocurrencies are gaining momentum. One of the crowning glories among crypto assets is Ethereum, featured as ETH, which is the native cryptocurrency based on the platform. With decentralized finance (DeFi) becoming the talk of the town, algorithms and science-backed cryptocurrencies seem to be ruling the blockchain world.
They not only feature smart contract functionality but also offer a safe and highly secure system of transaction and trading with intermediaries involved. A marvel creation by Vitalik Buterin, Ethereum is an advanced blockchain project and most popular among cryptocurrency enthusiasts mainly due to its nodal position in the world of cryptocurrencies.
THE MYSTERY UNCODED: TECHNOLOGY BEHIND ETHEREUM
Blockchain algorithm being the center stage of this cryptocurrency, the entire phenomenon and fundamental focus of this cryptocurrency is the programmability. This allows the users to not only benefit from a digital money perspective but also using Ether crypto for all marketplace transactions such as financial services, apps, games, products, to name a few, which can be built on the platform. As explained above, Ethereum enables developers to formulate and work on smart contracts, automatically implementing assignments under specific conditions.
Going through the various stages of development and evolution strategies, the platform has stuck with its plan & products to consistently upgrade the protocol to ensure improved usability, security, functionality, and decentralization.
ETHEREUM: THE EMPIRICAL RISE
What makes Ethereum cryptocurrency a coveted prize is the price prediction that is based on fundamental aspects. This is a straightforward model where money velocity is equal to the price quotient. All quantities are defined in fiat currency units, setting P=1 and M is calculated by the number of cryptocurrencies multiplied by the price of single crypto, Q is the amount of value being transferred across the network, and V’s analysis remains the same. Hence this function works on the main base framework that cryptocurrency is inversely proportional to its velocity.
Another popular quorum that governs this platform is sourced from NVT Ratio, which is calculated as:
Market Cap/ Daily Ethereum price being transacted on the network. Hence, the higher the NVT, the higher the price of Ether crypto.
THE ETHEREUM FRAMEWORK:
Currently, most projects rely on Ethereum as a public blockchain, which grants access to a larger audience of users, currency, nodes, and markets. However, there are often reasons to prefer a consortium or private blockchain. For example, companies in the banking sector are looking at Ethereum as a platform for their private blockchains. Even, Ethereum has been utilized for many initial coin offering events.
Public blockchains: These are fully decentralized blockchains and secured using proof of work or proof of stake algorithms, following a common principle that the degree to which someone can influence the consensus process is proportional to the number of economic resources that they can bring to bear.
Consortium blockchains: These are partially decentralized where a set of nodes controls the process; for example, one might imagine a consortium of 15 financial institutions, each of which operates a node and of which ten must sign every block for the block to be valid.
Private blockchains: A private blockchain is centralized to one organization for writing permissions. Read permissions may be public or restricted to an arbitrary extent. Likely applications include database management, auditing, etc., internal to a single company. So general readability may not be necessary in many cases, though public auditability is desired in other cases.
All above contribute to the overall Ether ecosystem by investing in Ethereum software development. Over time, this translates into software improvements, shared knowledge, and job opportunities.
ETHEREUM BLENDING IN OUR REAL WORLD
As we’ve seen with DAO, voting systems are also assimilating Ethereum. Polls processes and results are equally dependent on ETH, and they ensure a crystal clear and fair democratic process by providing no flaws exist in the process of voting.
Ethereum is a challenge for hackers to crack as the entire banking system has to be hack-free, allowing unauthorized access. Even the payment and remittance systems are based on ETH adopted by banks widely.
Deploying Ethereum in shipping helps with the tracking of cargo and prevents goods from being misplaced or counterfeited. Ether provides the provenance and tracking framework for any asset required in a typical supply chain.
With Ethereum smart contracts, agreements can be maintained and executed without any alteration for developing and digitally recording the agreements and the transactions based on them.
Companies can build Ethereum-based products using its plug and play feature. They can plug the private blockchain into the public mainnet. The interoperability of the Ethereum feature keeps blockchains updated. It provides them global expansion, continual developments & upgrades, and a vast network of users and dApps for the products. Enterprise Ethereum refers to a defined set of guidelines and technical specifications to accelerate blockchain technology adoption among enterprises. The specifications provide businesses with the ability to leverage both Ethereum-based private chains and the public mainnet. The Enterprise Ethereum specification is maintained by the Enterprise Ethereum Alliance (EEA), a membership of blockchain and incumbent businesses worldwide.
Also called Serenity, ETH 2.0 is the extension of Ethereum with added features to improve functionality and different price. It is next in line for upgradation in the Ethereum blockchain. Set to be released soon, it would be having a gradual and consistent phase-wise unveiling with market tests and trials to see mass adoption and acceptability. ETH cryptocurrency is set to be ready for V-shaped recovery; the staking for ETH 2. 0 is continually surging.
As a precursor of further enhancement and efficiency, the 2.0 will introduce a sharding technique. To reduce the transaction cost and speed up the work, adding sharding to the mix will augment its resource usage performance in a big way. That will be achieved by data verification among sets of nodes, and each will be responsible for verifying the data it’s received. This could increase overall capacity. Additionally, Ethereum 2. 0 will initiate web assembly language in a system they’re calling eWASM that would soon replace EVM, i.e., Ethereum Virtual Machine allowing a choice from various languages to write code to run on the blockchain.
This would ideally be a system based on faith with lesser accessibility issues and a beat to competitors. As the process of innovation is sped by Ethereum, the new dawn breaks, and one can already see how the Ethereum 2. 0 deposit contract is steadily receiving more ETH cryptocurrency with the passage of time and stands at 1.2 million currently.
& the number keeps growing…………….
& THE REST IS HISTORY: HISTORICAL PRICE MOVEMENTS OF ETHEREUM
Volatility is the hallmark of any cryptocurrency, and as Nigel Green, CEO of deVere Group, said earlier that, “Volatility is typically welcomed by traders and retail investors as it can present important buying opportunities and bring positive rewards.”
Ethereum, too is no exception in the crypto market. ETH cryptocurrency has also witnessed its ups and down many times, but what it now seems to be setting is as if it is racing to make a world record. The number of Ethereum nodes on the network have peaked more than 50% in the last two weeks. Ethereum has not only successfully pushed behind Bitcoin, but it has also affirmed its position showing stability. With the rise in DeFi, Ethereum has been processing almost twice compared to Bitcoin in the daily transaction volume and too many other major currencies like XRP, Bitcoin Cash, EOS, Cardano, etc.
ETH/USD Price Chart:
As per one price forecast article site, in December 2017, Ethereum price showcased an exceptional performance breaking past $500 and moved to $900 beginning January 2018. Even though ETH cryptocurrency witnessed a fall in February 2018 to a low of $640, it had taken the recovery path as per forecasts. The Pandemic seems to have set the stage for Ethereum price with its outstanding performance surpassing Bitcoin in the last year as per the news article. As per previous news & forecasts, ETH/USD has grown 100%, moving from $200 to $400 in just fifteen days in the last July, and seems to be ending this year surely as a Big Bull racing to No. 1 position in the investment market.
LET US TAKE EXPERT HELPLINE: EXPERTS TAKE ON ETH PRICE PREDICTION
The more, the merrier and so the more the experts’ crypto rating, the more the opinions for the Ethereum price predictions:
“They used the equation of exchange model to assess the future price of Ethereum by examining the future use case of the coin. Hence, ETH price is set to surpass expectations. By 2025, the price will breach the mark of $3500.” – Crypto Research Report
“ETH price is set to scale to $480 by the end of 2020.” – Skew Analytics’ prediction.
“The market price of Ethereum will spike up and reach a price point of $9000 eventually potentially scaling even to a whopping $1 trillion market cap as a result of the rise in demand for DeFi tokens in the years to come.”- James Todaro.
“ETH has the potential to reach $9 000 someday even though in the short term it may float at the support level of $800.”- Simon Dedic, Co-founder of Blockyre.
“By the time 2024 approaches, we can see ETH resting at the mark of $100,000.” – Brian Schuster, Founder of Ark Capital company.
WHAT IS IN STORE FOR ETHEREUM & OF ETHEREUM: PRICE PREDICTIONS 2021-2025
In the last year, Ethereum has brought past investors well over 1000% returns before the onset of a new year. As per Ethereum price predictions, ETH is an especially great asset for investment compared to Bitcoin and for traders who can take advantage of these price swings for the short and long term and let us know what industry experts forecast for the investment of the next five years:
Ethereum Price Prediction 2021
As per the recent momentum, the next few years will be positive for the price of Ethereum. With the break above the $550 at the end of the last year, Ethereum price might reach much higher levels over the next few years.
Having witnessed a massive dApp adoption that drove the price action of ETH crypto. Also, an update called ETH 2.0 having been launched in phases, which is a further extension to ETH. As per our forecasts, this will push the network’s scalability to 1,00,000 transactions per second, moving the blockchain from energy-intensive POW to POS. The network is super popular, with numerous projects built on it. Given the advancements are maintained, we can see the exchange rate & price of Ethereum soar to $1800, making it a new all-time high for the one year.
Ethereum Price Prediction 2022
With Partnerships and alliances and community funding, the market looks back at ETH crypto to perform, reaching a level of $4800, which is quite optimistic in the price point of view but undoubtedly feasible for the near future.
Ethereum Price Prediction 2023
With any changes in policies and regulations, Ethereum may too have its share of hazy days. If Ether crypto holds the support levels at the 100 & 200 SMA firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $5000, making it not plummet but play consistently.
Ethereum Price Prediction 2024
As per the latest news updates, current upgrades, price predictions, and new project forecasts of the platform, we expect many partnerships and integrations around 2024. This might boost the price of Ethereum in the crypto market, and it will be the best investment as the price can reach around $5200. However, if the ETH price face reversal, it might trade around its crucial support of $4900.
Ethereum Price Prediction 2025
Over the next five years’ price predictions, racing up to climax will not be hence so difficult for ETH as an additional short-term, medium, and long-term price targets can be found to buy or sell orders. Starting with a minimum price of $5200 in the long term, that means ETH price may record a new all-time high of $5600 over the next five years as per our prediction, and so THE BULL WILL BE BACK IN THE NEAR FUTURE.
ETHEREUM: THE CURRENT PULSE
On the daily log, Ethereum price though plummeted below the 12-EMA but managed to defend the 26-EMA like it has been doing since last year. Based on market capitalization and resistance level, one of the most bullish on-chain metrics in favor of Ethereum is the significant increase in the number of coins deposited into the ETH2 contract.
CONCLUSION: IS ETHEREUM A BUBBLE TO BURST OR A FOREST FIRE TO RAGE?
Being one of the oldest players in the crypto field, Ethereum has gained trusted credibility among enterprise businesses. Its protocol’s real-world applications have also covered 11 major categories that enterprise businesses could potentially be interested in. And Ethereum’s large community of developers, which works on the blockchain’s protocol improvements, could be considered by enterprise businesses as a technological benefit.
Ethereum projected growth to reach extreme highs, similar to what was seen during the ICO boom and crypto hype bubble that drove Ethereum prices from under a dollar to as much as $1,400 before falling back down to a low of $80. It is currently trading at about $375, representing an over 150% gain for investors in the last year. Ethereum has long been a panacea for application developers. Solutions for real-world problems like currency transfers and distributed finance have been found base on the Ethereum blockchain.
With Ethereum showing so much promise, it has support from all the industry crypto connoisseurs who firmly believe that backed by a fundamental robust algorithmic science and a consistent performance, Ethereum can be a great investment compared to Bitcoin but only if invested at the right time with the right price gauge as per our prediction.
FREQUENTLY ASKED QUESTIONS (FAQs)
Will Ethereum go up in 2021?
It all boils down to the rate at which the mass adoption of smart contracts happens. This will be a significant governing factor to make Ethereum prices go up. Undoubtedly that is happening; your investment in ETH is sure to break all bounds as per our Ethereum price prediction.
Can Ethereum make you rich?
100%. As per our price prediction, there is no other crypto that can promise a dream to this optimism. ETH can prove to be a valuable investment and sustainable source of income, provided you plan all your investment decisions wisely and strategically. As a miner or regular investor of the currency, the ETH price trend can prove a viable investment in the long term in terms of exchange rate value. There is no tested or proven way of getting rich quickly, but investing in ETH can prove worthwhile.
Will Ethereum 2.0 replace Ethereum?
Also called Serenity, Ethereum 2.0 is the extension of Ethereum with added features to improve functionality and different prices. It is next in line for upgradation in the Ethereum blockchain. Set to be released soon, it would be having a gradual and consistent phase-wise unveiling with market tests and trials to see mass adoption and acceptability.
Who owns the most ETH?
Founder of Swiss company EthSuisse, Joseph Lubin, is a famous industrialist and a coveted holder of maximum ETH as high as $10 billion investment.
Is Ethereum the future?
ETH might be the future as it is the first to come with “smart contracts” or documentation without human intervention.
Can Ethereum contracts pull data using third-party APIs?
No, ETH contracts cannot pull data from external information sources in this way. It is, however, possible to push data from the external website (e.g., weather sites, stock prices) to Ethereum contracts through transactions. There are “oracle” services that are compatible with the Ethereum network that will pull/push data to the Ethereum network for a fee.
Is the content of the data and contracts sent over the Ethereum network encrypted?
Data and contracts on the network are encoded but not encrypted. Everyone can audit the behavior of the contracts and the data sent to them. However, you are always free to encrypt data locally before broadcasting it to the network.
Can I store secrets or passwords on the Ethereum network?
All data on Ethereum is public. It is not possible to store secrets or passwords in Ethereum contracts without it being seen by all. There is work being done to make this a possibility through code obfuscation and other techniques.
How will Ethereum ensure the network is capable of making 10,000+ transactions-per-second?
Ethereum is planning on implementing a proof-of-stake consensus protocol change during the Serenity phase of their development roadmap.
Can I still mine Ethereum after PoS?
Once Ethereum runs fully on the PoS rails, miners and investors will have two options. One is to move towards selling the equipment and use that money for investment in ETH and start staking.
Is ETH better than Bitcoin?
Unlike Bitcoin, the Ethereum blockchain was designed to do a lot more as it is more popular among developers than Bitcoin. The main goal of Bitcoin is to offer financial transactions. On the other side, Ethereum allows developers to create their tokens and sub-platforms on its blockchain. Bitcoin & Ethereum are the top cryptocurrencies in the world.
Bitcoin is one of the oldest cryptocurrencies, while ETH is one of the top-most altcoins. It is the same difference between Lion and Tiger. As per the recent news & price trend of Bitcoin & ETH, the latter had reflected consistent growth. And as per our forecasts, Ethereum (ETH) might be the best investment among other significant coins.