Will Ethereum Overcome the Recession in 2019?
QUICK NAVIGATION :
- Ethereum Price Today
- Fundamental Analysis
- Technical Analysis
- Market Price Prediction For Ethereum In 2019
- Our Prediction
- Recent Ethereum News
- The Conclusion
One of the very difficult things is to predict where the price of the cryptocurrency will go in 2019. This is not a matter of expertise, or how “knowledgeable” you are — I mean, shit! you may have invested and possibly made a good deal of money on Bitcoin Rejoin and now you want to try your luck with another cryptocurrency to invest in, for example- Ethereum.
But now you got additional money to invest and you don’t know what to do in this crypto crisis, you are in confusion whether its the best time to buy or not. Luckily there are Prediction sites which will help you to understand where Ethereum prices are going to go.
Ethereum Price Today
As of today, Ethereum price is [coins symbol=”ETH”] resistance levels with a marketcap value of [coinsMKTCAP sym=”ETH”]. The coin is consistently in the second position from quite a long time. It has good potential to surpass Bitcoin as well.
Fundamental Analysis
Analyzing a few aspects Ethereum (ETH) saw a relative weakness in 2019. As there was a delay in it’s Constantinople hard fork in January which saw a postponement in October 2018. But it is now successfully forked on Feb 28.
Despite all this, the Ethereum platform still hosts high gas fees for transactions, while TRON has no gas fees. Having such scalability issues and other problems left Ethereum with many dApps and few users. EOS, TRON, and Steem have a greater number of active dApps than Ethereum. These are the four contenders of the dApp race where Ethereum appears to be lacking.
Technical Analysis
However, overall crypto market in 2018 suffered a downfall, ETH has completely dropped in value — losing over 90 percent of its value compared to its all-time high. In 2019 Eth saw a good start in January, but slowly the valued dropped to $104 at the end of January, later with Eth reaching $164 in February, it was moving slowly with steady growth.
However, March 2019 saw a start at $138 USD. Later the price rose to around $340 in July. Currently, the ETH price is around $187. 2019 was a year of fluctuation for ETH.
Ethereum price is following a declining structure against the US Dollar and Bitcoin. However, if Ethereum breaks $180, there could be a positive wave towards the $185 level.
After keeping a pace in between the $133 and the $134 resistance, ETH price came down slowly against the US Dollar. Ethereum price saw a gradual decrease from March 6 to March 12, 2019. On March 16, it reached a high value of nearly $143. At the time of writing, it was trading upwards
Today the price was standing at $176 and struggling to cross $180. Furthermore, Ethereum could be either above the $180 or even go below the $170 support. If there is an upside movement above $180 and hourly SMA, the price could go higher. The next resistance area is near the $185 and $186 levels, followed by $190. Also, a price below the $170 may drive the price towards the $160 range level.
Market Price Prediction For Ethereum In 2019
The cryptocurrency market is so volatile at the moment with rampant dynamism in the prices of major crypto assets. These rapid price movements rendered it very hard to predict the price of cryptocurrency as the main factors affecting prices are not certain. To get anywhere near a fairer price prediction for Ethereum in 2019 we will consider statements made by prominent individuals and publications regarding Ethereum price prediction.
1.Joseph Raczynski Ethereum Price Prediction 2019
Recently the founder of Joe Technologist.com and blockchain enthusiast with more than 153 thousand twitter followers, Joseph Raczynski predicted that Ethereum could hit $1200 by the end of 2019. He further mentioned that the Ethereum network has the largest developer community. Mr. Raczynski revealed that Ethereum’s proof of concept algorithm is the most popular consensus among institutional investors.
Follow him @joerazz
2. Ian McLeod Ethereum Price Prediction
According to Ian McLeod, an influential technology expert at Thomas Crown Art Ethereum might reach something more than $500 by 2019. McLeod thinks Ethereum could experience a global and monumental breakout. He further predicted that Bitcoin might lose up to 50% of its cryptocurrency market share to Ethereum within five years or more.
3. Nigel Green Ethereum Price Prediction
Meanwhile, Nigel Green CEO of The deVere group a leading global financial consulting firm predicted that Ethereum could hit $2500 by 2019. According to Mr. Green, the price surge would come due to more platforms trading Ethereum and more demand for digital currencies, increased use of smart contracts and decentralization of cloud computing.
Follow him @nigeljgreen
4. Trading Beasts Ethereum Price Prediction
Another important market influencer in the cryptocurrency space, Trading Beasts, predicted on their website that Ethereum average price might revolve around $650. Trading beast, however, mentioned that the Ethereum price might reach as high as $908 by the end of 2019.
Follow him @TradingBeast
5. Brian Schuster Ethereum Price Prediction
Our last prediction comes from the founder of Ark Capital LLC, Brian Schuster. Mr. Schuster made a rather bullish and optimistic prediction on Ethereum price. He, however, spread his prediction to a five years or more. Schuster said Ethereum price might reach $100,000 in five years or more.
Follow him @SchusterDEV
Our Prediction
Although the crypto market has seen a downside during the end of 2018, Ethereum is going to take an upward surge in the coming days. Also, it can touch around $1200 by the end of 2019. This is because of the growth and developments planned in ETH’s roadmap.
Recent Ethereum News
We bring you all the latest Ethereum News and updates,
Offchain Labs Alpha version Compatible With Any Ethereum App
Offchain Labs released an alpha version of its software. This version is compatible with any Ethereum application allowing each smart contract to process more than 500 transactions per second.
Phase Zero Of Ethereum 2.0
The co-founder of Ethereum, Vitalik Buterin, is very confident about the launch of phase zero of Ethereum project early next year. According to him, the technical aspects of ETH’s scaling magnum opus are in hand. Also, the network has a goal of “tens of thousands of transactions per second.
Ethereum Name Service Auction
Recently, the Ethereum Name Service conducted an auction for short .eth domain names on OpenSea decentralized marketplace. The three-six character domain names that were not a part of the 194 approved names can now bid upon using Ethereum.
Telegram Blockchain Project Compatible With Ethereum
Telegram released the code to run a node on Telegram open Network (TON) to allow its users to experience advance trial of the project. This new project is compatible with ethereum as per the tech startup building tools for the network.
Ethereum Classic Upgrades For ETH Compatibility
Ethereum Classic Labs announced the implementation of the Atlantis code upgrade on Ethereum Classic (ETC) blockchain’s testnet. Basically, to provide suitable compatibility and collaborative development opportunities with its sibling blockchain, Ethereum (ETH).
Bitfinex Launches Ethereum Based P2P OTC Service
Bitfinex’s partner exchange, Ethfinex, announced the launch of a peer-to-peer OTC operation. Users can now conduct large trades of any “compliant” ERC-20 tokens directly with other asset holders.
Vitalik Buterin Proposes The Creation Of On-Chain Ether Mixer
Ethereum (ETH) co-founder Vitalik Buterin has proposed creating an on-chain smart contract-based ether mixer. It is in a note on collaborative development platform HackMD on May 24. In his note, Buterin argues that the Ethereum ecosystem needs more privacy. He also points out that the default behavior is to do everything through a single account.
Launch Of Ethereum-Based System
William Shatner beams up Ethereum-based proof-of-authenticity token. He also announced his partnership with Mattereum to launch an Ethereum-based system that authenticates and digitally transfers ownership of physical items including collectibles.
Ethereum 2.0 Proof-of-Stake Testnet
The co-founder of Prysmatic Labs, Preston Van Loon announced the launch of an Ethereum 2.0 Proof of Stake (PoS) blockchain Testnet on May 7. After continuous hard work each day, Prysmatic labs is now successful in delivering a public testnet for Ethereum 2.0’s proof of stake beacon chain to the community.
Nimbus Development Update: A Public Ethereum 2.0 Testnet. The public can be validator.This is a milestone in the development of Ethereum 2.0
Another
ProgPow Technical Audit
Hudson Jameson, who is a core dev of Ethereum Foundation, released an update on Programmatic Proof-of-Work [ProgPow]. Basically, on the official blog of Ethereum Cat Herders, on March 25. According to the report, Ethereum Cat Herders are mainly responsible for two tasks related to the ProgPow implementation.
Namely, ‘Gauge the community sentiment’ and ‘general consensus’ of the Ethereum community, and its technical audit. Also, on the technical audit side, the Ethereum Cat Herders decided that the audit would be conducted by the Least Authority, which is a security consultancy.
eToro
The Copenhagen-based Firmo startup uses underlying technology that will allow eToro to securely deploy financial contracts while supporting a number of blockchain platforms, including Ethereum, EOS and NEO.
Ethereum Upgrades
The Hardforks, St.Petersburg and Constantinople were updated in February last week. After the Ethereum upgrades, the new transaction blocks are added to the Ethereum blockchain. Etherscan, the blockchain analytics site, reported that the daily block count increased exponentially.
After the release of these Hardforks four different ethereum improvement proposals (EIPs) was officially activated on the ethereum network – one of which does introduce a new “corner case” affecting smart contract immutability.
A few days ago, an ethereum mining pool, Spark pool, received more than $2,000 ETH of payment for mining one blockEthereum. The blockEthereum recently launched its pre-release of phase zero officially, along with its transition to Ethereum 2.0. Ultimately, it aims to make Ethereum much better and safer. The completion date is expected to be around 2021.
Ethereum has also come up with the fastest and ad-free blockchain explorer, EnjinX, which aims to make ETH more accessible to the mainstream market. Although the Ethereum price may be decreasing, the cryptizens still have a lot of interest in it as the ETH market capitalization reaches 105,285,201ETH as its current circulating supply.
Ethereum Hard fork, Istanbul
Istanbul, the long-awaited Ethereum Hard fork, has finally got a specific date. The hard fork is scheduled to occur on Dec 4, 2019, at its 9069000th block. The Ethereum price is said to increase after this hard fork.
The Conclusion
With the current market trends and amounts of developments and investment within the Ethereum network, we predict Ethereum price to reach $1400 in 2019. However, with all the growth and developments stated in the Ethereum roadmap, we think prices could go beyond $1400.
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