Ethereum is a blockchain network with public distribution, not unlike Bitcoin, but there is a fundamental difference between the two in terms of how they are used. Bitcoin was developed entirely as a cryptocurrency through the use of blockchain technology. Ethereum, on the other hand, offers a cryptocurrency called Ether but focuses primarily on administering program coding for applications that are decentralised, commonly referred to as Dapps.
With the increase in development of Dapps, the value of Ether has risen extensively, and experts predict this trend to continue as we move into the next few years.
The History of Ethereum prices
Ethereum was launched by Vitalik Buterin in June 2015. Since then, the price and popularity of Ethereum has risen sharply. It is now the second-placed cryptocurrency in the world in terms of value, behind Bitcoin. At presale, investors could buy 2,000 Ether at a price as low as $572. Owing to recent surges in value, it has recently hit highs in excess of $1,500 – the price almost doubled at the start of 2018. Cryptocurrency mania has seen incredible things happen to the market since the end of 2017.
Ethereum prices going forward
Cryptocurrency experts are fairly consistent in their predictions that the rise in value of Ethereum and Ether is set to continue for the long term. The increase looks set to remain steady through the first quarter of 2018 and beyond, and predictions from Longforecast expect the value to hit $1,650 as early as April 2018. If such a trend does continue at a steady rate, then a level of consistency will start to shine through that could only encourage greater confidence in Ethereum as a viable investment.
If the experts are to be believed, and the statistics have any credibility, then the $1,650 prediction for Ethereum is only the beginning. As a long-term investment, it looks like Ethereum could be a real contender for where best to hedge your bets.
Image Source: Flickr