Ethereum (ETH) Price Prediction and Analysis in August 2020
In today’s article, we will be reviewing some of the factors that can influence the price of ETH and market opinions in order to launch an Ethereum price prediction.
The popularity of this crypto asset is growing, and this trend is likely to continue. Ethereum offers a cheaper alternative to the crypto trading circle. Ethereum trading is a great way to approach the cryptocurrency trading market, as it provides a more affordable option than Bitcoin (BTC).
Ethereum has been in existence since 2015, and from almost a completely worthless currency, it has risen in value to become one of the most formidable cryptocurrencies in the present-day world. The following lines show the trends that are likely to follow the development of Ethereum in the next few weeks.
It is worth mentioning that Ethereum’s price prediction is based on a number of factors that have influenced the price of this leading cryptocurrency over the past few months. This is because it is hard to make a 100% correct prediction of coming events.
The list of the factors one needs to know about Ethereum is highlighted below:
- Ethereum Threshold
Unlike Bitcoin, Litecoin, and other cryptos. Ethereum does not have a threshold on the number of coins that can be in circulation. This factor can be a good one for the future of Ethereum because when it reaches a peak, more coins can be created, while many other crypto assets that have a limited number of coins that can ever be in existence.
- Ethereum Long Term Value
The long-term prediction of ETH prices is clear. This crypto will likely decrease and increase intermittently. However, the long term value of ETH is likely to be one that is increasing. So that Ethereum is a crypto that best suits the long term perspective in terms of the returns on investment.
Ethereum Price Prediction: Market Opinion for August 2020
A lot of platforms have made their Ethereum price predictions for August 2020, and we will highlight the results of the forecasts in the following lines.
Longforecast shows that the present value of Ethereum has witnessed a 65.8% increase over the past month, with its value gradually progressing from $240.44 to its current market value.
The trends on the Long Forecast platform shows that the price of Ethereum is likely to peak as high as 690 dollars this month. The website predicts that ETH will close the eighth month of the year in a range of $690. The average Ethereum price prediction for August 2020 on this platform shows a value that revolves around $505.
Digitalcoin shows the Ethereum price prediction over a long term basis, and the trends are generally looking bright for Ethereum investors. This financial analysis platform shows that there could be a change that reaches over a hundred percent (109.89) in the price of Ethereum over the next week in August 2020. The cost of Ethereum is predicted to reach a value of $829.83 in August.
Digitalcoin also predicts that the ETH price could settle at around $772.27 by the end of the year 2020.
Coinpredictor is another financial analysis platform that has predicted an increase in the price of Ethereum over the next week in August 2020. The prediction of this platform states that the price of Ethereum can reach over $404.66 in seven days.
With the ETH price prediction of the Coin Predictor platform, the future is generally looking bright for Ethereum investors.
The WalletInvestor platform shows that the price of Ethereum is on a progressive trend that will peak the value of ETH at about $513.685 by the end of August 2020. The minimum value that is predicted for the cryptocurrency over the same timeframe in August 2020 is about $428.902.
WalletInvestor offers a deep insight into the daily progressive trend of the rate of increase or decrease of the Ethereum cryptocurrency over the last days of August 2020.
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Ethereum Price Prediction: Verdict
The price of Ethereum, like most other cryptocurrencies, is almost entirely independent of current world happenings. The predictions about the price of this crypto asset are based on a set of factors that have influenced its value in the past and will likely do the same in the coming days. The future is, however, looking very bright for Ethereum investors over the long term.
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