Investing in cryptocurrencies has become common among investors for the past few years. And why not?like Ethereum and Bitcoin have risen exponentially in recent years.
The price of Bitcoin was around $440 in December 2015. Today, its price fluctuates between $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 are 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, it is a little more than $500. Its price rose to $1400 as well.
The price of all cryptos has decreased recently, and Ethereum is no 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 difficult, keeping market volatility in mind. Short-term forecasts 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. Many experts say that themight 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
A couple of reasons 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 the price of an Ether will be. The number of such apps is slated to increase by 25-30 times.
These reasons are good enough for the investors to believe that Ether’s price will outperform the price of Bitcoin. This means you will get a higher ROI by investing a dollar in Ethereum than in Bitcoin.
The market capitalization of Ethereum will exceedby the end of 2018. The number of cryptocurrency projects is also increasing, leading to flippening—Ethereum overtaking Bitcoin. If that happens, the cost 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.