There is no doubt that currently, Bitcoin is the leader of the top cryptocurrencies. However, the runner-up, Ethereum, has a great potential to develop and reach new highs in the upcoming years. Here, we discuss the Long term Ethereum Price forecast.
1 November, AtoZForex – While all eyes of traders are concentrated on the recent rally of Bitcoin, some are also looking the other way. More specifically, some of the industry experts see a great potential in other altcoins, such as Ethereum.
Ethereum vs. Bitcoin
Earlier this July, the co-founder of Aragon, Luis Cuende, said that Ethereum will be trading at around $260 in the short term, yet, it has potential to hit $1,000 in the long-term. When exactly?
As of now, Ether is changing hands at $304. In fact, the value of Ether pales in comparison to that of Bitcoin. However, considering the timing, the future of these two is unpredictable. Bitcoin has been around for over 9 years, while Ethereum only exists for 2 years.
In the period of 2015 and beginning of 2016, the price of Ethereum was stagnant below $2.50. In February 2016, the Ethereum price has been rising, and then it hit above $14 in March. Afterward, it slid again and then neared the $20 mark in June. For the rest of 2016 and beginning of 2017, the price of Ethereum was fluctuating at low – teens.
Now, in March 2017 the Ethereum has become the second biggest currency in terms of market cap. However, the price of this altcoin still trades at around $300.
Long term Ethereum Price forecast eyes $1000
In spite of this, Mr. Cuende of Aragon is extremely confident in the future of Ethereum. He believes that it will hit the $1,000 level by 2019. As we all know, Ethereum and ICO are developing at a rapid pace. As a result, many companies’ funds are flowing into the Ethereum market. Consequently, the value of the network is increasing.
ICOs have been the controversial topic this year. While overall token sales have raised over $3.04 billion during 2017, some don’t believe in the future of ICO. Just like that, Ethereum co-founder Buterin thinks most ICOs will fail.
In fact, as Long term Ethereum Price forecast eyes $1000, this scenario is vulnerable to many factors. For instance, many global regulators already have been expressing concerns over risks associated with ICOs. Chinese ICO ban has had a significant impact on Ethereum network. That time, the price of 1 Ether dropped below $200.
Yet, Mr. Cuende’s stance in regards to Ethereum is strongly positive:
“I thought it was expensive one year ago when it was at $13, but today when I see the possibilities created by the technology I think it’s cheap. I believe Ethereum will be worth $1,000 in a couple of years.”
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