Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24
Stock Market Breadth - 24th Mar 24
Stock Market Margin Debt Indicator - 24th Mar 24
It’s Easy to Scream Stocks Bubble! - 24th Mar 24
Stocks: What to Make of All This Insider Selling- 24th Mar 24
Money Supply Continues To Fall, Economy Worsens – Investors Don’t Care - 24th Mar 24
Get an Edge in the Crypto Market with Order Flow - 24th Mar 24
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

An Ethereum Price Forecast For 2017

Currencies / BlockChain May 22, 2017 - 12:10 PM GMT

By: InvestingHaven

Currencies

The price of cryptocurrency Ethereum in 2017 is going through the roof, similar to the price of Bitcoin and several other cryptocurrencies. Our Ethereum price forecast for 2017 and later is very bullish.

Interestingly, there are no Ethereum price forecasts available on the web. So we are among the first ones to forecast the Ethereum price for 2017 and later. There is even no Ethereum price forecast on the official Ethereum site ethereum.org.


Ethereum price in 2017

The price of Ethereum is not moving ‘accidentally’ higher. There are several coins in cryptocurrencies universe, not all though, that are moving strongly higher. That is really a result of supply/demand dynamics. And here is the biggest news: this trend only got started. Are we saying that a bubble could develop over time? Yes that’s what we are saying, but not anytime soon yet.

The total market cap of all cryptocurrencies combined has surpassed $60B meantime. To put that figure into perspective: Tesla’s market cap is $50B, Boeing Airlines $100B, Coca Cola $180B (rounded figures for April / May 2017).

In other words, cryptocurrencies are being bought and sold in this world, transactions take place, so they are on their way to become mainstream. Look how trading volume has exploded, see below chart, at the bottom of the chart.

There is nowhere any level of mainstream acceptance yet. Most people even have not heard of cryptocurrencies. So the above chart is about to become much ‘worse’.

The price of Ethereum in 2017 has literally exploded. Rightfully so, because its usage has exploded as well, as we will show in the charts in this article.

Note that readers can consult the latest Ethereum price in several ‘traditional’ currencies. Also, readers interested in Ethereum price news can consult the news section Coindesk.

At this moment in time, Ethereum’s price is trading around $125. So one Ethereum, one ‘coin’ of the cryptocurrency Ethereum, is worth $125. In recent weeks, the price of Ethereum has gone up fivefold.

An Ethereum price forecast for 2017

Our Ethereum price forecast is based on usage of Ethereum. Although it is very hard to know the volume that Ethereum projects consume, mostly because those figures are not available and many of those applications are private in nature, we can look into the usage charts to derive an idea.

Given the premature state of Ethereum, there is already a strong growth in transactions (2nd chart) and addresses (1st chart).

It is hard to forecast how these data points will develop, but the high level trend is what is of primary interest to us.

Given the enormous untapped potential of Ethereum, and the strong adoption among respected top banks across the globe, we believe this trend acceleration only got started.

Because of that, we forecast that Ethereum’s usage will go up fivefold this year.

Given those data points, our best case price forecast for Ethereum in 2017 is $550, which is a fivefold increase against the price of this wee

Original source: The article An Ethereum Price Forecast For 2017 originally appeared on InvestingHaven.com

http://investinghaven.com

Analyst Team
The team has +15 years of experience in global markets. Their methodology is unique and effective, yet easy to understand; it is based on chart analysis combined with intermarket / fundamental / sentiment analysis. The work of the team appeared on major financial outlets like FinancialSense, SeekingAlpha, MarketWatch, ...

Copyright © 2016 Investing Haven - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in