ETH Price Analysis
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.
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.