I’ll admit, Ethereum has never really caught my eye until recently, even after the price skyrocketed upwards. I’ve never really been interested in writing an Ethereum Price Prediction. It’s mainly because I didn’t understand the promise of its potential. Then there’s the whole trying to mine the currency which sent my mind into a spin; yeah, I’ve never really paid much attention to it since 2015.
Ethereum Price Prediction – Holding will be key!
I spoke to a random guy on some slack one day, I can’t remember which one. It may have been the telegram, or slack channel of some coin I was / am interested in. It was at the time that Ethereum literally halved in price over a short period of time, between June and July of 2017. I remember him being devastated because he had ploughed his whole life savings into the project and now they were worth 50% of what he had put in. He was a newbie to crypto of course, and I remember telling him to wait, to give it time and see what happens. I hope he did, because now what he had put in is worth more than double now, as it stands today.
I’ll come clean and say that I don’t know too much about the technology behind the coin; to be fair, I don’t know too much about the code of any cryptocurrrency coin, and I know this may validate your impression on how well I can give an Ethereum Price Prediction, but hear me out. I’ve been in this game for almost five years, and I’ve made quite a lot of money since I started in the game (lost a lot too), but there is one thing that’s constant — Bitcoin is going up, and it’s continuing to go up. Yes, you may see massive drops in price when you look at it as a short term graph, yet if you look at the price since it has started then you could draw a constant uphill line straight through the chart. This is good for all altcoins, since their price is stitched onto the price of Bitcoin.
Ethereum is pegged as a Bitcoin killer
Now they say Ethereum is a Bitcoin killer, I’ve heard it shouted around in a lot of cryptocurrency chat rooms. I’ll reserve my judgement on that one because I wouldn’t like to commit to any judgements just yet, but there is one thing that’s been playing on my mind recently. Most of the Initial Coin Offerings I’ve been involved with lately have all been smart contracts and built off the back of the ethereum blockchain, and these are projects that I’m heavily invested in!
Does that tell you something?
Yeah, I can see a gradual upwards trend for a long time, even with the 50% drops along the way; think of it as a long term investment. To me, all of the coins that I’m invested in are for the long term. That’s why I use the term invest, because it’s a long term commitment to not selling what I have. In the world of crypto I’d be known as a ‘hodler’ which is crypto-slang for a coin holder. I like to hold my coins and watch them grow, even with the big drops, which can be quite frightening for some people. Yes, I’m now holding Ethereum. It’s not much, but I believe with the amount that I’m holding I’ll be able to buy my first house with that investment alone in the next few years.
Fear, Uncertainty, Doubt
In my mind, most cryptocurrency should be held for long term gains – look at Ethereum for example. If you bought at the beginning and held it until recently then you would have amassed a fortune, and I still wouldn’t sell now. My Ethereum price prediction rockets up into the thousands over the next few years. Sure, there will be dips and weaves along the way, but isn’t that standard practise as people get ‘feared’ out of their coins? Look at Bitcoin; the major dips over the last two years have been when China have introduced Bitcoin bans and people start to have doubts about the whole thing. Recently a large American Bank stated that Bitcoin was not worth investing in, and the price plummeted, yet, turned around a month later and bought into Bitcoin when it was lower. Their speculations had driven the price lower, and they were able to buy in at a lower price.
My Ethereum Price Prediction – I have High Hopes!
I have high hopes for this year in cryptocurrency, and Ethereum is one of the big three, which I like to call Bitcoin, Litecoin and Ethereum. My Ethereum price prediction for this year alone would be at least double the price that it sits at now, but I expect it will be way higher, I like to be conservative with my predictions. We are seeing hundreds of new and exciting ICOs utilising Ethereum Smart Contracts beginning already, and we’re only coming up to the third month of this year. This, and I think there will be a major fiat market crash soon, and people will want to put their worth into something sustainable, and recession-proof, and that will be crypto — smashing all prices sky high.
This might be a bit noob-like to say, but “to the moon!”