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Ethereum (ETH) has enjoyed the status of being the second largest cryptocurrency in the world over a period of time until it has recently been detected by XRP. This asset has seen a largely bumpy ride this year. The following chart shows the results of the ETHs last year.
As evident from the chart, ETH was enjoying the highs above the $ 1,000 threshold at the start of this year. But since then, running has not been so easy for the resource. The main price reductions have been recorded by the activities in the coming months. After falling out later, ETH now floats around the $ 102 mark as per www.coinmarketcap.com. So, what's in store?
In recent months, various blockchain-based platforms have exploded on a global scale. Ethereum is not just the only major blockchain platform available for development. Projects that explore alternatives to it could only be a factor in the situation of falling asset prices.
Another reason that could be attributed to this huge decline is the end of the initial coin supply boom (ICO). In the ICO wave of 2017 and 2018, many different cryptographic projects have used the ethereum protocol to raise funding. These ICOs also included some scams, which is a completely different matter. Since the end of the ICO boom, blind investments are not flowing as in the past. With hindsight of the bear race that has been going on in the last year, some start-ups that have raised funds in ETH are now trying to sell off their ethers because of falling prices that has been seen in its value.
But where will we see this resource by 2019, 2020 or even 2025? What are the forecasts? You can only speculate on the price of ethereum because the uncertainty associated with this world is quite large. Nothing can be said for sure. But here's what some people suggest.
The influencer blockchain Joseph Raczynski is suggesting a shot at $ 1,200 by the fourth quarter of 2019. Thomas Power, who is a member of the board of BICRA, suggests that things could go south for good from here on . The asset could go even lower. Some believe that updates and developments made by Ethereum could push its price higher, while some are suggesting a fall.
One must always remember, these are all speculations yet.
Uncertainty is incumbent on the price of Eth, and it is the only thing that is certain at the moment. Forecasts have proven to be wrong in the past and may prove to be the same again in the future. Let's sit down and see what happens.
SEE ALSO: Prediction of Ethereum Prices: Things could be heading south for ETH
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