Ethereum (ETH) To Strike $1500 Or Even $2500 In 2018

Ethereum (ETH) is trading well above $770 for the first time since March. The cryptocurrency rallied hard to finally break up a stiff resistance at $700 and reach a new high of $784 on Thursday, May 3, 2018, before closing at $779.

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Ethereum (ETH) is trading well above $770 for the first time since March. The cryptocurrency rallied hard to finally break up a stiff resistance at $700 and reach a new high of $784 on Thursday, May 3, 2018, before closing at $779.

Today, the coin has picked up speed once more, surging by 8% in the Asian hours to trade at $783 against the US dollar.

The value of Ethereum can be said to have simply gone ballistic in the last 24 hours, rising more than 9% to record impressive returns for investors. Over the last 7 days, the coin has jumped 17% bringing its total percentage change in the last month to over 81%. After dropping to lows around $347, ETH is now trading at well above the $700 value, having taken longer to break the resistance range than it was expected.

At the time of writing, ETH is trading at $778 against the US dollar. With a new support base forming at the previous resistance level, excitement is that the crypto may see its value rise to over $850 in the next few days. Nevertheless, even with this huge jump, Ethereum still has a long way to go before it hits its all-time high.

Will Ethereum reach $1500 in 2018?

The possibility of Ethereum going on to achieve new highs already has experts and industry players making big predictions about its future value. Nigel Green, the CEO of hotel and leisure company De Vere, recently made an incredibly bold prediction for Ethereum as prices continue to climb.

Nigel Green predicts that if the trend continues, ETH could hit a new high of $2,500 by December 2018. The sentiments can be juxtaposed with similar comments that believe the best is yet to come for the top cryptocurrencies.

Another crypto enthusiast is Reddit co-founder Alexis Ohanian who also predicts that Ethereum will hit $1500 by year’s end. His reasoning takes into account the fact that the Ethereum blockchain is still the leading platform for dApps and smart contracts.

In related news, it has been revealed that a new Ethereum based project will offer users an exciting way to tokenize items they amass when playing video games. The project is spearheaded by Palm, which hopes to have users access the ability to get value from in-game items.

They hope to exploit smart contract options and game tool Unreal Engine to give players the capacity to structure items into ERC-721 tokens. Players are then able to trade the items by selling to other players. The idea is still in development and full details are expected later.

Ethereum (ETH) price goes ballistic despite being in regulatory “gray zone”

The upturn in prices is an indicator of shifting sentiment and positive fundamental atmosphere surrounding the coin. However, there is a regulatory dark cloud hanging over the coin. The US Securities and Exchanges Commission is said to be considering the possibility that Ethereum may constitute a security. Though not new, the latest purge may have to be taken seriously by the Ethereum community.

The uncertainty hasn’t hindered the upturn in price movement. However, it has forced the Ethereum Foundation to come out, categorically stating that ETH does not constitute a security. The co-founder of the EF, Joseph Lubin has been quoted as saying that there was no danger at all of the cryptocurrency being declared a security by the SEC. he summed up the Foundation’s take on the matter by stating that:

“(We) spent a tremendous amount of time with lawyers in the U.S. and in other countries, and are extremely comfortable that it is not a security; it never was a security… many regulators that matter understands what Ethereum is.”

Of particular concern is the manner in which Ethereum conducted its ICO in 2014. There are concerns that the way in which the tokens were distributed, citing the possibility that early backers may have bought the tokens believing their value would rise.

If that proves to be the case and investors were made to believe they could earn profits, then Ethereum (ETH) could well be classified as a security. For now, ETH hasn’t been classified as a security and thus investors shouldn’t have any worries short-term. Keep watch of the Ethereum price charts; the weekend could be even better.

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