Ethereum’s price continued to drop recently and by the look of things, it seems that the rate at which the price is falling is higher compared to other important tokens in the top ten.
This downward trend managed to surprise investors and triggered a lot of concern among the ETH holders.
Everyone’s wondering where the coin is headed and what could happen this year.
Currently, ETH is trading in the red and the coin is priced at $125.75 on CoinMarketCap.
Price predictions for 2019 and 2020
ETH is a fast emerging crypto and investors are looking at it as a long-term investment choice. Usability and application of the coin are important issues to bring up when we’re looking at price predictions.
The appreciation of its value depends a lot on these two factors.
Ethereum offers decentralized processing power and bandwidth and this makes it different from other coins.
This also means that ETH definitely has the possibility of surging in the future.
“By the end of 2019, it is expected that Ethereum would be somewhere around $500. Similarly, by the end of the year 2020, it is assumed that Ethereum would be around $ 2,000,” Smartereum writes.
Main reasons for which ETH can surge
The same online publication notes three main reasons for which ETH could surge in the future. Here’s why such bold predictions about the coin’s value are possible:
Increasing application uses
More companies adopting decentralized cloud-based applications