Ethereum (ETH) Price Analysis : Ethereum to Triple Up in this Year

Vitalik Buterin introduced ETH as a platform that can enable many cryptocurrencies to exist without building their blockchain technology. Ethereum (ETH) helps developers to build smart contracts that can execute their tasks automatically when certain conditions are met. ETH has mainly got two functions, it helps keep things running smoothly by compensating the mining nodes, and it pays people under smart contracts platform.

Current status of ETH

ETH is getting traded at USD 139.54 (UTC time 05:43). It is currently running on a bull trend of 0.51%. Its current market cap for 105,418,833 ETH is $14,710,244,818 US. Based on its market cap, it is the 2nd largest cryptocurrency in the crypto sphere.

Price analysis of ETH on the Ethereum charts

The above chart shows that at present ETH is getting traded at 139.50 USD or 0.03438114 BTC (UTC time 05:46). Its current market cap has a value worth of 14,706,331,760 USD with 4,812,913,452 USD as its 24h volume. The same chart shows that approx. One month earlier, ETH has a trading value of 127.36 USD. So, in this duration, the value of ETH has been spiked up by 9.53%. Its earlier price point of 138.24 USD has provided a good support resistance to its current bull trend.

Future price prediction of ETH

According to Joseph Raczynski, a blockchain enthusiast and founder of Joe Technologist, ETH has the largest community in the crypto spheres and thus, it can reach to $1200 this year once the volatility is reduced. Trading Beasts predicted that ETH has potentials to reach $908 by the end of this year and this is pretty much an optimistic review. Many crypto analysts believe that by 2020, crypto market volatility will get reduced largely and thus, it can cause a major high in the values of cryptos. Accordingly, it is assumed that in the first quarter of 2020, ETH can trade around $2100 and in 5 years, it can be around $3844.

Conclusion

ETH is called the queen of cryptocurrencies with Bitcoin as the king. ETH is largely expanding its community and provides a great platform for many other cryptos. Thus, in the upcoming years, its investors will gradually rise, and it too can spike up largely. It all depends on the volatility of the crypto market, so far the stability in the value of ETH is concerned.

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