Ethereum Price Predictions 2019: Cryptocurrency’s value could triple–Tue May 28

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2019 Ethereum Prediction
A recent analysis of the charts indicate that the price of Ethereum (ETH) has continued to drop sharply. In fact, the rate at which the digital asset is falling is much higher compared to other assets among the top tokens. This continued downward spiral has surprised investors and is causing concerns among many regarding were the digital asset is heading.

It appears that no bottom is OK for Ethereum (ETH) as it continues to drop. Currently, Ethereum (ETH) is trading around $103. This shows that the digital asset has fallen from approximately $1200 since the start of the year. Thus, the token has lost over 90% of its original value due to the highly volatile market.

Ethereum (ETH) at Risk of Drowning into the Double Digits
Ether is at risk of going into double digits because the next support area for the cryptocurrency is at the $100 position. There’s a psychological and technical support. Which is why the support line is very important. The last time ETH saw these levels was May 2017. At the time, the digital asset had formed a support of $91.

This clearly indicates that if the price of the digital asset breaks the psychological and technical support area of $100; it can drop to $91. This is the primary reason why it is crucial for the digital asset to retain the $100 support of area. The issue is that the downside momentum is ferocious to the point that it might break $100 as well.

Double digits for ETH is now becoming more of a possibility rather than an imagination. Hence, the reason why investors remain sceptical about Ethereum (ETH) considering the significant amount of value it has lost.

Ethereum (ETH) Has Lost a Significant Portion of its Value Compared to the Other Top Assets
As mentioned above Ether has lost a huge portion of its value. The figure stands at 90% as of press time. Among the top three virtual currencies, none of have lost such a huge amount of value. Ethereum’s value erosion is nothing short of enormous. And with the Initial Coin Offering market now in trouble, it appears the issues Ethereum (ETH) is facing isn’t about to end anytime soon. Authorities around the world have started tightening the regulation of ICOs. This is why the fundamentals are not positive.

A Fall Below the $100 Area Appears Likely
The current price movement of Ether means that a fall below $100 is imminent. Yes, things are not actually looking good for Ether. Additionally, with the competition within the Blockchain increasing from the other virtual currencies, the use of the Ethereum blockchain isn’t increasing by any means at a faster pace when compared to what it was earlier.

Whether we will see a turn around in the fate of the digital asset remains to be seen. We can’t say if it will hit the heights it attained when things were better. That is another matter altogether. For now, however, it appears that there is no bottom deep enough for the Ether token price.

Ethereum Blockchain Is One of the Most Useful
The blockchain of Ethereum (ETH) is one of the most useful in the blockchain space. Nevertheless, the blockchain project is paying a big price for the abundant fake projects in the crypto industry. A lot of Initial Coin Offerings used the protocol of Ethereum in 2017 and 2018. Ethereum is now the one paying for the sham motives of most of these projects.

The massive decline in the value of Ethereum is basically as a result of the low rate of new Initial Coin Offerings coming in the market. Investors are now smarter, they now have a better understanding of the landscape. A lot of existing projects are now selling-off their Ether as a result of the crash in the value of the digital currency.

However, the founder of ConsenSys and the co-creator of Ethereum – Joseph Lubin – believes that the adoption process and use cases of Ethereum’s protocol is growing rapidly.

Nerayoff talked about Ethereum
“You’re seeing a tremendous amount of growth across a wide variety of industries. Fintech is actually the natural area, but now you’re seeing it becoming increasingly more creative — you find projects in the oil and gas industry, you’re finding government using it in their applications, you’re seeing it in gaming, all kinds of different areas,” Nerayoff said.

Beyond project building, Nerayoff said usage is increasing because ethereum can process transactions more quickly and cheaply than its rival. “People are actually using it for currency, as well,” he said. “Lower transactional costs are increasing usage of the entire network, and that’s increasing the network effects of it. There are more users, more projects being built on there and more programmers,” he said. Despite his confidence, Nerayoff isn’t discounting bitcoin and the interest in cryptocurrency it inspired in 2017. “The entire space is increasing. There is huge interest by the public and there are more areas in which the public can invest, even in bitcoin, so you could just see an expansion in the entire space,” he said.

Ethereum price prediction:  2019, 2020
Ethereum is fast emerging as a major cryptocurrency. In the last few days, it has scaled new heights quite consistently. This is one of the main reasons why most of the investors are also looking at Ethereum as a long-term investment bet.

This brings us to the important question what can be the Ethereum price in the future. You need to understand that you have to look into the usability as well as the application of the cryptocurrency. When you are able to look at the usability and application of cryptocurrency, thereafter only it would become easier for you to understand how its value can appreciate. When you’re looking at Ethereum, you would realize that it is underlying capability that is it provides decentralized processing power as well as bandwidth. Owing to this very reason, Ethereum is much different as compared to the other tokens which are just a token for investment. This also means that the value of Ethereum would increase in the future.

By the end of 2019, it is expected that Ethereum would be somewhere around $ 500. Similarly, by the end of the year 2020, it is assumed that Ethereum would be around $ 2,000.

Thus, when you look at the kind of returns which are expected from Ethereum, you would realize that it has a long way to go still.

Reasons why Ethereum can appreciate by a significant amount:

some of the reasons include:

    - Increasing application uses
    - more companies adopting decentralized cloud-based applications
    - increased usage of smart contracts

These are the 3 reasons why Ethereum is being more widely used. You need to keep in mind that when it comes to Ethereum, the more the platform is used, the higher would be the price of the token. Owing to this very reason, you can be sure that the value of Ethereum would increase in the future as well.

Also, it is expected to become the 2nd most valuable cryptocurrency according to the market cap. This is one of the main reasons why it would consistently appreciate as well over the years.

So, whenever you’re looking to invest in any cryptocurrency, it is a much better idea to look at the option of Ethereum. When you look at the option of Ethereum, you would realize that not only it has a strong application but also significant potential for appreciation.

source:  https://smartereum.com/2279/ethereum-price-predictions-2019-cryptocurrencys-value-could-triple-how-high-can-the-price-of-ethereum-go-in-2019-ethereum-news-tue-may-28/