Ethereum Price Prediction for 2019: ETH Could Triple in Value!
Recently, the price of Ethereum has steadily dropped at a rate that is much higher than the declines of the other top tokens. It has lost nearly 90 percent of its original value. This decline seems to be at odds with the expectations of investors, taking them by surprise. Their Ethereum price prediction, investors are nervous about the future of the cryptocurrency.
Ethereum Could Dip Below $100
There is a very real possibility that Ethereum could experience a further drop below the $100 level. This has caused many investors to express skepticism about the future of Ethereum, considering its recent drops. Most see a drop below $100 as a certainty, rather than a possibility.
Ethereum Has Lost a Larger Portion of Its Value Than Other Assets
None of the other top cryptocurrencies, such as Bitcoin and Ripple, have experienced such significant losses. And Ethereum’s troubles don’t end there. Recently, governments have begun tightening regulations for Initial Coin Offerings, which affects Ethereum’s offering. In addition, increased competition from other cryptocurrencies has caused the use of its blockchain to stagnate. This is why some investors believe that things are not looking good for the future of the currency.
The reason for such tight regulations on Initial Coin Offerings is the abundance of so-called “sham projects” that sprung up, and Ethereum has been a part of that problem, though unwittingly. Many of these projects used Ethereum protocols, and authorities are remembering that now.
The low number of Initial Coin Offerings appearing on the market is to blame for Ethereum’s current drop in value. Plus, smarter investors are selling off their Ether, both because of the reputation of the protocols and because of the drop in value.
This all seems gloomy, but there are still some who believe that Ethereum will make a comeback, with an increase in use cases of the blockchain technology and an increase in adoption.
Ethereum Price Speculation
Before its significant decline, Ethereum rose to new heights very quickly, emerging as one of the major cryptocurrencies. It is due to this fact that some investors still hold out hope for another impressive rise in the currency’s future. The cryptocurrency market in general is extremely volatile, so any currency could experience dramatic highs or lows at any given moment.
So, what can we expect from Ethereum in the near future? To answer that question, we must first understand the qualities of Ethereum. Its main attraction is its ability to provide decentralized processing power and bandwidth. Where other tokens function simply as an investment, Ethereum has actual usefulness. When you consider this fact, it seems those hopeful investors are right: Ethereum’s value will rise, as will its adoption and rate of use.
How much will Ethereum rise? Most predictions state that its value will slowly increase to around $500 by the end of 2019. This is much lower than its price of $1,200 at the start of 2018, but in 2020, it is expected to rise even more, ending the year at around $2,000. Clearly, the currency still has a long way to go, but the future is optimistic nonetheless.
The reasons for Ethereum’s expected rise include:
- More application uses
- More companies adopting decentralized cloud-based applications, which Ethereum can offer them
- More smart contracts being used
As Ethereum is more widely used, its value will increase accordingly. The more a platform is used, the higher its price.
In addition, Ethereum is expected to become slightly more important in the cryptocurrency world, becoming the second most valuable cryptocurrency. This will also cause its value to appreciate.
Ethereum is an attractive and ideal option for new investors. Its application is very useful, it is currently being bought at a low price, and its price is expected to rise soon.
The Future of Ethereum According to the Experts
A conference, hosted by Fortune Magazine, recently convened in Aspen, Colorado, to discuss the future of cryptocurrencies. It featured experts from cryptocurrency wallet companies, venture capital companies, and blockchain startups. They offered their predictions for the future of cryptocurrencies in general. Here are some of their thoughts that relate to Ethereum:
- Ethereum is not going anywhere. Due to its powerful applications, it is expected to stick around for at least the next 10 years.
- There will be more competition in the future. Ethereum and its forerunner Bitcoin are the top coins right now, but that could change. As more coins appear on the market, the price of Ethereum will fluctuate, as we’ve already seen.
- The cryptocurrency market will become more regulated. Governments have already seen the problem with Initial Coin Offerings and begun implementing regulations to control the numerous offerings that seem to spring up every day. The market as a whole can also expect stricter regulation. This will decrease the decentralization of Ethereum’s platform, but it will also eliminate the fraud that has been associated with Ethereum’s protocols.
- The market will become more stable. Right now, fluctuations are everywhere and so is speculation. But eventually, the market will stabilize. And along the way, people will be looking for a platform that does more than transfer funds. They’ll be looking for useful applications, which will be beneficial for Ethereum.
- More versatile cryptocurrencies will force traditional banking systems to adapt. If banks and credit card processors don’t adapt to the changing market, they will disappear and cryptocurrency will be all that is left. Some experts believed that these systems will improve their services in order to compete and survive, but others didn’t think this would be the case.
Ethereum has seen a significant drop in value recently. This may be disheartening to some investors, but there is still reason to hope for an upswing. The currency’s platform is very useful for a variety of applications. The market is also changing all the time. Therefore, Ethereum’s value is expected to rise slightly in 2019, and increase even more in 2020. It also has a positive long-term outlook, and will likely stick around for another decade.