Why You Should Start Investing in Ethereum Now - Coindoo

Why You Should Start Investing in Ethereum Now

Editorial Team Avatar
May 20, 2019
4 min reading time

Crypto investing is tough, but not as difficult as it may seem if you follow some basic rules. Don’t love or get emotional with your coins. It is volatile and scary at times as things can fly up and down at extreme rates, like the Bitcoin value flow has proved. If you are not careful, then you risk massive losses.

To ensure continuous profitability, make sure you learn how to be careful and check for trusted crypto websites. Avoid most crypto traders on YouTube and other forums as there are lots of speculators in the market who may want you to believe that XRP is going to the moon, or BTC is at its dip and a reversal is sure.

From personal experience, trading daily is far safer and more profitable than holding with so much uncertainty in the market. You have to be careful though and be exceptionally good in your T. As, reading the news and understanding the trend correctly. In this article, we are going to talk about one of the most successful cryptocurrencies and another option aside Bitcoin: Ethereum.

What’s Ethereum?

ethereum blockchain
Genesis Mining

Ethereum is the pioneer for blockchain based smart contracts. When running on the blockchain, a smart contract becomes like a self-operating computer program that automatically executes when specific conditions are met. On the blockchain, smart contracts allow for code to be run precisely as programmed without any possibility of downtime, censorship, fraud, or third-party interference.

It can facilitate the exchange of money, content, property, shares, or anything of value. The Ethereum network went live on July 30th, 2015, with 72 million Ethereum premined. To sum up, it is the second-ranked cryptocurrency right after Bitcoin, and it is the top AltCoin right know in circulation.

How’s Ethereum doing now?

coinmarketcap ethereum
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Currently, Ethereum is at 244.94 USD (20/05/2019) according to CoinMarketCap and had his peak point last year in January 2018, hitting over 1.200USD.

Joseph Raczynski, founder of JoeTechnologist and key blockchain influencer with over 150k on Twitter, expects the value of Ethereum to hit 1.200USD again by the end of this year. Meanwhile, Tom Lee, head of research at Fundstrat Global Advisors, goes further and expects the value of Ethereum to hit 1.900USD by the end of 2019.

Nigel Green, CEO of the deVere Group, believes it could increase significantly and could even hit 2.500USD further into 2019 or 2020. And to go even further, Brian Schuster, head of Founder Solutions at Ark Capital LLC, presents an extreme bullish picture of Ethereum at reaching 100.000USD per coin if it replaces gold as a store of value in a distant future.

Every prediction looks exceptionally positive, and there’s a reason why: increasing application uses, more companies adopting decentralized cloud-based applications, increased usage of smart contracts. Furthermore, just 376 users are needed to hold 33% of all Ethereum currency today. This may enhance the possible positive outcome, that some influential people are bouncing and analyzing.

The founder of Ethereum, Vitalik Buterin, announced in the University of Basel at the beginning of the year that crypto hype has reached his peak and graphs still show an increase, nevertheless. More applications are being developed, and as predicted, Ethereum should maintain consistency and keep growing with ease.

To conclude, Ethereum did begin as a bold experiment, and in 2018, the Ethereum community ran more experiments than ever before. Today, and since late 2017, the Ethereum blockchain has continued to be used near maximum capacity.

This year it’s about a new narrative within the larger set of Ethereum applications (Example: DeFi: Decentralized Finance). Ethereum is thinking ahead of the market, and the next steps are ETH 2.0. Since 2015 some setbacks where defined and developments have been made. It is very likely that ETH will play it safe, and according to new applications, it will only settle as one of the most important AltCoins and even Cryptos on the market.

Written By: João Santos

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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