Check the Ethereum Latest Price News & ETH Price Charts

ETH Price Analysis

Fundamental Overview

Ethereum is a blockchain that allows users to run programs in its safe environment. Ethereum has a virtual machine that allows the verification and the execution of the code on the Blockchain, guaranteeing that it will run the same way on everyone’s machine. The code is contained in Smart contracts. Smart contracts can accept and store both data and Ether. Using the logic programmed in the contract, it can distribute the Ether to other accounts or smart contracts. Smart contracts are written in the language called Solidity, which is similar to JavaScript.

Applications that use smart contracts for their processing are decentralized applications. The user interfaces of these dapps use similar languages like CSS, JavaScript, HTML, etc. The application can be hosted on a decentralized file service or a traditional web server like IPFS, or Swarm. dapp can offer its benefits to the record-keeping, finance, real estate, marketplaces, and supply chain industries.

Factors Affecting Ethereum Price

Ethereum has made itself a fundamental coin in the cryptocurrency ecosystem. Ethereum quickly rose to become the second-largest coin in the market. There are a few factors that determine the price of Ethereum:

a. Mining profitability – The price of Ethereum is not singularly governed by speculative actions but also by the profitability of mining. When the price of Ethereum is $300 to $400, the profitability is significantly higher, which gives miners a strong incentive to sell at the high price levels.

b. Regulation – The stances of the regulators also affects the price of Ethereum.

Price Forecast

As the market currently is volatile, and there is the sudden downfall of cryptocurrencies, forecasting the price of cryptocurrencies is not an easy task. No prediction is ever guaranteed to come true. It’s important to do your own research and never invest just by reading the predictions by the analysts. Here are the price speculations by eminent personalities and publications on Ethereum:

a. PriReis from TradingView – Ethereum might reach to 320 USD by the end of 2020.

b. TieuLong FX – TieuLong FX suggests that Ethereum has the potential to grow, and it can reach as high as $1,365 by 2021.

c. Brian Schuster – The Ark Capital LLC founder Brain Schuster made an Ethereum price prediction of $100,000 per ETH coin in the coming future. He predicted the Ethereum market to be bullish as Ethereum shows long-term potential.

d. Bobby Ullery – According to the analyst Bobby Ullery, Bitcoin and Ethereum each will hold 25% of the entire cryptocurrency industry.