Ethereum currently has the highest market cap after Bitcoin (BTC), Ethereum (ETH) is attracting investor’s attention from all over the globe. Starting in January 2017 when the digital coin was trading in the range of $6-10, Ethereum price hit a high of $1,098 per coin in February 2018 before falling to the current price levels of around $500. If you have faith in your Ripple wallet and Litecoin Wallet, then ETH is up there among the toppers, ranked 2nd largest in the crypto-market.
So, is it the right time to buy Ethereum and what are the leading price predictions for this cryptocurrency?
According to InvestingHaven, the price of the Ethereum coin should touch $1000 by the year 2020, if not in 2018. Despite the constant price fluctuation, most industry analysts agree that this is a very conservative prediction for Ethereum, which is estimated to cross the $2,000 mark before the end of 2018. To reach this value, Ethereum must have a market cap valued at $200 billion, while the current market cap stands at around $53 billion.
While some cryptocurrency experts predict the Ether to cross $2,000 in a single day of trading, some are even bolder and predict a price of $5,000 by the end of 2018. According to E-Money Chat, the ETH coin price should realistically touch the $1,000 mark in the second half of 2018 but will experience a 20% drop after that due to investor sell-off to book their profits.
According to Olaf Carlson-Wee, the chief of Coinbase, Ethereum will cross Bitcoin in the value of its market capitalisation by the end of 2018. If ETH does manage to do that, the coin price will triple from its current value. His predictions are supported by facts such as the market share of Bitcoin falling to a low of 32% in January 2018, while the total investment in Ethereum has grown four times to reach the 30% mark in 2018.
Additionally, the development of the Ethereum smart contract technology and the formation of the Enterprise Ethereum Alliance (comprising of around 86 firms) is drawing investor attention and fostering the rapid growth of this platform.
Blockchain advisor and entrepreneur, Brain Schuster predicts a market capitalisation of over $10 trillion for all cryptocurrencies, which will push the price of Ethereum to a high of $100,000 per coin by the end of 2018. Steven Nerayoff, the co-creator of Ethereum, estimates the coin price to triple in its value in 2018 due to the industry adoption of the Ethereum protocol and the increase in the number of the Ethereum-based project by over ten times as compared to 2017.
Despite their investment expertise, investment experts cannot possibly predict the future trading price of any cryptocurrency including Ethereum. Due to the rapid volatility, Ethereum may rise and fall in the span of a single trading day, but the inherent strength of the digital coin and its technology will ensure that the coin price does not suffer a massive downfall and continue to have a downward spiral for the rest of 2018.