Fast growing alternate currency Ethereum (ETH) created a lot of buzz last year.
Ethereum was launched in 2015 and is the second largest cryptocurrency in the world. When you look at ETH to BTC chart, analysts predict that Bitcoin (BTC) and Ethereum will have a hold of 25% each of the total market of cryptocurrency and will reach a total market capitalisation of $4.5 trillion in 2020. How did this massive surge happen?
In 2018, the promising cryptocurrency Ethereum recorded an all-time high of $1349 in January. Compared to Bitcoin and Ripple. Though Ethereum had a slow start, in the beginning, it soon joined the big league of performers last year. If you are looking at investing in Ethereum this year, below are the top trends to watch out for in 2019
High Possibility of Hitting Double Digits
Currently, Ethereum is trading at about $103. Due to the highly volatile market, the token has dropped nearly 90% of its original value leaving investors sceptical on how to proceed. Since Ethereum had a rough year in 2018, there is an indication that the digital asset could drop to double digits. Competition with other currencies has also not helped it either as per some of the most trusted cryptocurrency exchange. However, the future looks hopeful as Ethereum blockchain is one of the most useful in the market and by Q4, analysts have predicted that it will pick up and reach triple digits of approximately $500, leading to big wins for potential investors.
Regulations are Here to Stay
Many international governments are laying down the rules and laws to ensure a dip in insider trading and fraud. Due to the digital nature of the transactions, there was initial risk involved; however, with laws cracking down on markets, cryptocurrencies are here to stay. This has also given rise for fintech to create some of the best Ethereum wallets which carry out transactions in a secure way with real-life applications.
Bitcoin Vs Ethereum
While Bitcoin is the largest cryptocurrency, in the world of digital currencies, Ethereum has more applications to it. Ethereum is an open platform which is written in turing-complete code language. Because of this, a computer can run any script on top of the program making it extremely versatile. Furthermore, Ethereum records things more quickly than Bitcoin which means that the possibilities are endless. Therefore, more companies are willing to back Ethereum infrastructures. A lot of fortune 500 companies want to work on Ethereum including Intel, JP Morgan and Thomas Reuter to name a few.
Conclusion
Due to the advent of technology and emerging trends in blockchain, AI and machine learning banking and financial organisations are looking at massive investments in digital coin. Ethereum is vastly different compared to other tokens and makes for a good long term bet for investors. Some of the top reasons why Ethereum is preferred is because it provides both a decentralised processing power as well as bandwidth which means that more organisations are likely to adopt the coin.
So if you are looking at investing in cryptocurrency, you can look at Ethereum as an excellent option for 2019 through secure exchange platforms like Coin Switch.
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