Is Ethereum worth it? 2018 Trends
In 2017, millions of investors have turned their attention towards cryptocurrencies. The stellar price growth of Bitcoin and the rise of a few other altcoins, including Ether and Ripple, have convinced many people to invest in cryptocurrencies. Of course, many of them are firm Bitcoin supporters and don’t feel the need to diversify their cryptocurrency portfolios. However, that’s not the best approach, even for a beginner investor. Today, we take a look at Ethereum, and what makes it a good currency to invest in 2018.
What are the price predictions for Ether in 2018?
First and foremost, let’s take a look at the numbers. As of early January 2018, the price of Ether has just hit $1000. It still doesn’t seem like much compared to Bitcoin, which is currently worth over $13,000, but let’s not forget that Ether was worth $400 at the beginning of December 2017. The price growth of the Ethereum token is definitely impressive, but so is its volatility. We’ve seen it hit $770 and drop 25% down to $550 in just a couple of hours. However, the future looks promising, as the demand for Ether as both a practical currency and an investment vehicle seems to be increasing.
Experts agree that 2018 will be the year of Ethereum. Their smart contract technology is very appreciated and supported by both governments and businesses. Even huge trusts like Microsoft have joined the Enterprise Ethereum Alliance, a corporation that aims to facilitate the growth of Ether. Moreover, several governments, including those of China and Japan, have shown support towards Ethereum as a blockchain platform for decentralized apps. Ether’s value increases based on the number of apps that operate on the Ethereum blockchain – so its popularity with big companies can only mean further price growth.
The fact that Ether will surpass $1000 in 2018 is already established, but how much will it grow by the end of the year? Some people speculate that it might hit the $3000 mark, and others go as far as to say it will reach $5000. And while these are but opinionated forecasts, everyone seems to agree that Ether will at least double up in price sometime during 2018.
Will Ether overthrow Bitcoin in 2018?
Another question that is on everyone’s minds is: Will Ether overthrow Bitcoin? Many financial experts believe that Ether’s market cap will surpass that of Bitcoin in 2018, especially since many more institutions and firms are backing Ethereum now. Then, we have the price growth figures. Bitcoin is worth more than Ether at the moment, but it has only grown 8.5x its price in 2017. On the other hand, Ether has grown a whopping 20x in less than half a year – and if the trend continues, it’s only a matter of time until it overthrows Bitcoin. Moreover, about 90% of the capital invested in cryptocurrencies in 2017 was invested in Bitcoin, but the figure has dropped to 45% in the last month of the year. Naturally, this was due to the huge number of promising altcoins and ICOs, as well as Bitcoin’s slight price drop in the second half of December 2017. However, nearly 30% of the capital invested in cryptocurrencies at the beginning of 2018 is now invested in Ether.
As a conclusion, the Ether forecast for 2018 is definitely favorable. It is now the second most reliable cryptocurrency in the world after Bitcoin, and some people even believe it has the potential to overthrow Bitcoin at one point. If you’re looking to invest in Ether, it’s best to do it as soon as possible, as its price will probably continue to grow.