- Ethereum is one of the leading and most successful Cryptocurrency that is out there, it valued at 168.16 USD.
- Analyst Bobby Ullery believes that blockchain technology will play a crucial role in the future economy and international trade.
- The predictions state that in January Ethereum will make it to $720, and by the end of the year it will reach $1488.
Ethereum is one of the leading and most successful Cryptocurrency that is out there. As of now, it valued at 168.16 USD. There has been quite a momentum in the market price as we entered the New Year 2020.
People still have faith in ETH, and they predict that it will rise, and by the end of the year, it will equal or break its own all-time high back in 2017 when it increased by 10,000%.
Looking at the history of the Cryptocurrency market and its volatile nature, people still try to predict the price of the market. There are a few predictions that have gained much popularity. One is from online analyst Bobby Ullery, and the other is from CoinKir.
Eth Price Prediction by Analyst: Bobby Ullery
Analyst Bobby Ullery believes that blockchain technology will play a crucial role in the future economy and international trade. According to him, Bitcoin and Ethereum will each hold 25% of the entire cryptocurrency industry, which he predicts will have a total market capitalization of $4.5 trillion in 2020.
For the people who do not understand market capitalization pay close attention. You get the value when you multiply the number of coins in circulation with the market value of each currency. The critical point to note here is that Ethereum does not have a fixed supply.
For Ullery’s prediction to come true, the Ethereum value should rise by 775%. This is not at all an unrealistic speculation considering its previous rises.
Eth Price Prediction by CoinKir
Coinkir gave another prediction by using technical price analysis. This method tries to find trends in price movements in the past — this method used in real-world financial markets.
But the problem arises is that the real world market has more than 50 years of data which is not available in the cryptocurrency market.
Although the predictions state that in January Ethereum will make it to $720, and by the end of the year it will reach $1488. If this prediction is correct, then the market capitalization of Ethereum will be $148 billion.
Apart from these predictions, some factors can gravely affect the price of Ethereum in the coming years. With the emergence of new protocols like plasma and sharding that meant to increase the number of transactions in a shorter time, If Ethereum inculcates these protocols, the prices will shoot up instantly.
Another factor is shifting from POW to POS will also help in the improvement of validating transaction much faster. Although these factors are highly effective, it is also essential to know that these ideas are in their early days, and no one knows how long will it take. One can only wait and keep himself updated with all these development.