What Is Ethereum (ETH) And Where Does It Head In 2018?
Ethereum (ETH) is one of the biggest players in the crypto space last year, establishing itself as the number one competitor to industry leader Bitcoin.
The cryptocurrency which uses an open-source blockchain platform has seen its price and market value surge to new highs, gaining most of the initial coin offering projects and has started gaining attraction in the mainstream world.
Ethereum is the next cryptocurrency after Bitcoin, considered to be the second largest crypto in the world now and with the potential for immense growth. What do analysts expect regarding the future direction of the currency?
The prediction of Ethereum (ETH) was a hot topic in 2017, and that will certainly be the case this new year. 2017 was the strongest year for Ethereum, and this has led to a strong prediction for the digital currency this year. Ronald Chernesky, former CEO of cryptocurrency social network InvestFeed is of the view that Ethereum will continue its gain this year.
As the number of Ethereum transactions keeps growing rapidly, the potential for this currency to attain new highs this year seems more likely.
Geoffrey Smith, a Finance Professor at W. P. Carey School of Business at Arizona State University, has been observing the crypto market for a while and predicts that Ethereum will experience a bullish year.
Some experts are skeptical about Ethereum’s potential this year, with several of them suggesting that the current volatility and hard government legislation could affect the future of the virtual currency.
That has been the case in some countries that have started taking legislative actions against cryptocurrencies, with the moves seriously affecting the value of the payment method in the foreseeable future.
This thought hasn’t stopped a tech investment firm from predicting a big Ethereum rally for this year. The $1,000 mark is the target for the currency this year, with one analyst predicting that the digital currency would attain the $5,000 mark this year.
2018 promises to be an exciting year in the crypto space, with supporters of cryptocurrencies and detractors both believing that dramatic changes in the industry are on the verge of happening. Making any predictions about the currency this year is tricky, but experts and analysts who have backed Ethereum (ETH) from the beginning have gained from it financially.