Investing in cryptocurrencies has become a norm for the past few years among investors. And why not? Cryptocurrency prices like Ethereum and Bitcoin witnessed an exponential rise in the past couple of years.
The price of Bitcoin was around $440 in December 2015. Today, its price fluctuates in the range of $8,300 – $9,400. So, you can very well understand the profits people made who invested in Bitcoin during its inception. One crypto whose price rise can be compared to that of Bitcoin is Ethereum, and in this article, we will talk about its price trend for the current year.
Ethereum: An Introduction
The price predictions of Ethereum is a hot topic now among anyone associated with the crypto market. However, Ethereum was not very popular even two years back. In 2017, Ethereum got noticed as a cryptocurrency, and it happened as its price increased a lot. Bitcoin and Ethereum became the most popular cryptos after the price rise.
The Ethereum price was $700 seven months ago, and at present, its price is a little more than $500. It’s price rose to $1400 as well.
The price of all cryptos has gone down recently, and Ethereum is not different. Let’s see how it is going to perform in the year 2018:
Ethereum Price Predictions for 2018
Please remember that making price predictions for cryptocurrencies is not easy, keeping the market volatility in mind. Short term predictions happen to be more difficult.
The price of Ethereum will cross $2,000
The price of Ethereum will cross the $2,000 benchmark in Q3 itself. In fact, many experts say that the price of Ethereum might even pass the $5,000 milestone.
According to Investing Haven, an Ether’s price should reach $1,000 soon, if not by 2018 but soon after. Some of the reasons for such an increase have been explained below.
Ethereum Might Overtake Bitcoin
There are a couple of reasons that make Ethereum a better investment option than Bitcoin. Ethereum’s ability to use smart contracts gives it an edge over Bitcoin. Ethereum also allows developers to create decentralized apps or apps. The higher the number of such apps, the higher will be the price of an Ether. The number of such apps is slated to increase by 25-30 times.
These reasons are good enough for the investors to believe that an Ether’s price will outperform the price of Bitcoin. This means you will get a higher ROI by investing a dollar on Ethereum compared to Bitcoin.
The market capitalization of Ethereum will exceed the Bitcoin price by the end of 2018. The number of cryptocurrency projects is also increasing, leading to flippening—Ethereum overtaking Bitcoin. If that happens, the price of an Ether will triple.
Bullish Growth in Market Cap
Apart from the price, the Ether market cap is also on its upward march. CoinMarketCap says Ethereum’s market capitalization ($129 billion) is more than half of Bitcoin ($245 billion). Earlier, the market share of Bitcoin was more than all the other cryptos took together. Now, Ethereum is halfway through Bitcoin’s market share.
The outlook of Ethereum is quite bullish, and this is a great time to invest in.