Market Price Prediction For Ethereum For The Upcoming Year 2019
According to ConsenSys and Enterprise Ethereum Alliance, Ethereum performed better than bitcoin in 2018. Another industry giant OnChainFX recently revealed that Ethereum prices increased by more than 10,298% since 2017. According to foreseeable future events, Ethereum could even do better in 2019.
Factors Supporting Ethereum Price In 2019
Recently the smartphone manufacturer HTC, launched its debut blockchain Phone known as Exodus 1. The phone which is purchasable using only Ethereum and Bitcoin launched on December 12, 2018, and is now ready for purchase.
Many other smartphone makers are working on blockchain specialized devices with Ethereum and Bitcoin as the main cryptocurrency for the smartphones. The success of these phones will, in turn, improve on the price of Ethereum and Bitcoin.
Another major event that could shape Ethereum price is the expected hard fork in the Ethereum network. The Constantinople hard fork may increase transaction block time significantly. According to Ethereum Co-founder and ConsenSys founder Joseph Lubin, low prices is not a big deal for the Ethereum network. Mr. Lubin revealed that the high Ethereum adoption rate is the most important thing for the network.
Meanwhile, the anticipated hard fork that is expected to usher in Ethereum version 2.0 will also include the Casper upgrade. Casper upgrade is Ethereum upcoming proof-of-stake (PoS) algorithm. It is also expected that additional features such as sharding might also be implemented in the network from 2019 onwards.
Recently during a TechCrunch blockchain session in Switzerland, Ethereum founder, Vitalik Buterin revealed that the upcoming update will put Ethereum high on the ladder in 2019. He stated that the Ethereum future consists of 5 roadmaps and the upcoming Constantinople update is one of them. The team lead at Ethereum, Peter Szilagi recently posted a Roadmap on Twitter.
Currently, Ethereum has a market capitalization valued at $10.5 Billion and a circulating supply of 103,362,913 ETH. The cryptocurrency gained a lot of interest with the crypto communities globally. The dramatic interest in Ethereum is attributed to the cryptocurrency’s use of smart contracts, an important feature that Bitcoin lacked.