Ethereum is a household name among those who have their tounges wagging around Cryptotrade. It is rated the second best after Bitcoin which was the first to hit the market. Bitcoin and Ethereum are so much different from each other and it's why Ether is expected to behave differently from the latter. Foremost, it's a Cryptocurrency asset that was designed to offer more options other than payment. The platform hosts smart contracts, a new payment technology that eliminates the need for third parties. This is perhaps what makes it such a risky investment with much potential at the same time.
Remember that this e-currency is powered by the powerful Ethereum Virtual Machine that is the first of its kind among other digital coins available. This raises the stakes when it comes to predictions of the performance. While it holds much promise, some analysts feel like Ether performance has been rocked forth and back due to the high volatility in the previous years. There is no denying that it will continue to drop its value as far as this year is concerned. At one point, the worth got to rise to more than 8000 percent, reaching a record high. This was 3 to 4 years ago, ever since the prices have plummeted raising concerns of its eventual future.
Any individual wouldn't easily rule out the potential of this great innovation. This year, 2020, the asset started the year fairly well with an incredible bullish entry. From January, it saw increased rise in worth of more than 100 percent from the previous annum. In 2019, the cost had fallen to approximately $80, quite a low record but this didn't obscure it from improving to around $160 from the beginning of this period. Pundits have raised predictions that the worth is expected to continue rising exponentially through the months.
This however doesn't paint the exact picture of Ethereum's results this time round in 2020. In the shortest times, the value is generally going to drop to a low of $150, a record that has already been set. The asset is currently struggling at around $180 with little growth anticipated. Some analysts believe that the cost might increase exponentially due to improved usage and continued trust of fintech technology. A close peep into the market conditions reveals that while Ethereum seems to be doing well, the digital coin Ether has improved value at a low rate of about 2%.
Therefore, in the shortest terms, Ethereum can only play at a range of $150 to $250 at most at the close of 2020. Moving into the next annum might paint varying results with an anticipated rise in value. It is in 2021 that most technical experts believe that this Cryptocurrency will start recovering from the previous bullish years. At most, at the beginning of 2021, a recovery rate of up to 100 percent is inevitable due to the versatility of the asset. If it maintains this record, it can break through bullish resistance at $350.
Analysts further suggest that if this trend is consistent in 2021, Ethereum's value could experience a peak of up to $35000. In this period, the lowest it could drop to is around $1400. At this mark, the asset would have maintained its previous record high that was previously set in the initial years that saw the coin rise from under $1 up to $1000 plus in months. This might be good news to investors as the drop would still be higher than the highest achievement in 2020.
Having broken the blockchain resistance in 2021 and 2022, Ethereum might have better chance of growth in 2023 and moving forward. This is in terms of long-term basis for those who have trust in this cryptocurrency. The growth is anticipated because of the intricate ecosystem that powers web 3 interface and improvements in dApps. At this rate, it could see a rise of up to $100000. This doesn't necessarily mean that a drop isn't inevitable due to the high volatility and competition from others. The drop could still be maintained at around $30000.
To sum it up, it's true that Ethereum is indeed a promising investment as it shows much promise. Most experts and analysts have lauded the performance of Ethereum and despite the drops anticipated, it's still a worthy Cryptocurrency. For now, the drop is expected to go to as low as $150.