Ethereum (ETH) Price Analysis: Ethereum’s Decentralization Contention Returns; Bullish Medium-Term Outlook
- Allegations of centralization have been made against Ethereum.
- The 2019 prediction target continues with no change at $1000.
In today’s world of cryptocurrency, decentralization is the biggest factor which has the potential to make it or break it. The whole idea of cryptocurrency is based on this. Recently a study by Chainalysis Inc. revealed that the second biggest crypto coin in the world has some big whales. As per their study, around 30% of the whole Ethereum’s value is stored by 376 people. This is not for the first time allegation of such kind is made against Ethereum. Earlier, another study suggested that one-fifth of all Ethereum coins are stored with 448 people. The rising in the numbers is not a good sign for the market. Kim Grauer, a senior economist at the company, said, “The majority of whales aren’t traders, they’re mostly holding.” We predict the coin to have a highly bullish medium-term outlook. By the end of 2019, the value should be around 1000 USD. We should now analyze the current figures to understand the pattern.
Current ETH Price Statistics
Ethereum Price Chart
- Ethereum (ETH) is the second largest coin.
- The ROI (Return on Investment) stands at 8767.98%.
- The number of ETH coins in current circulation stands at 106,139,738 ETH.
- The current market cap as on 20th May at 01:14 UTC stands at 26,722,120,634 USD.
- The value of each coin stands at 251.76 USD and 0.03161010 BTC.
- The 24h volume at the same UTC stands at 12,117,476,332 USD.
ETH Price Comparison
As the rank suggests, the coin has been performing with great stability as far as market cap is concerned. The same way, the value of ETH in USD is also stable. The lowest point of ETH was on 06th February at 103.43 USD. And the highest point of ETH in this year was achieved 3 days ago at 265 USD price level. The market cap on 20th April was 18,401,702,005 USD, and the value of each ETH coin was 174.04 USD. The current market cap and the value of ETH coin is respectively 45.21% and 44.65% more than the figures for last month.
Ethereum Price Prediction
As per our Ethereum Prediction, the next resistance will be there at around 300 USD. The medium-term and long-term outlook is bullish. By the end of 2019, the value of each ETH coin should be around 1000 USD.
Conclusion
For the long-term players, diving into the market with the current price is a good decision. But investors need to be ready for huge price swings.
