The price for Ethereum keeps climbing while new market opens in China
Source: https://ethereum.org/
Some say that Ethereum might become the next number 1 in cryptocurrency, and they might be onto something actually.
We are currently seeing that Ethereum’s price keeps rising, and it has done so consistently since the beginning of 2017. The price is driven upwards by a soaring demand from both investors and speculators, who all wants to jump on the bandwagon before the technology is fully adopted, and while there is “easy” money to be made by trading Ethereum. This is supported by the fact that the price for Ethereum has now surpassed US$ 200, which should make good reading for current holders, and not so good for those who jumped off the wagon to early.
Source: https://www.worldcoinindex.com/coin/ethereum
The rise in price coincides with the opening of a new trading platform in China.
Huobi, one of Chinas leading exchanges, has announced they will enable trading of Ethereum from May 31. 2017. China’s Ethereum community is presently small in comparison to Bitcoin’s. However, millions of Chinese use Huobi which could help turn the tide in favor of Ethereum. Huobi sees great potential in Ethereum, and have stated that Ethereum could end up outperforming Bitcoin because of better scalability, cost and speed.
Source: https://twitter.com/huobicom/status/868442008402014208
While all these are true, Ethereum’s biggest advantage is the possibility of smart contracts that automatically executes once contract terms are fulfilled. China has one of the world’s largest industries and exports its goods to all over the world. It is my guess that Chinese companies will be quick to catch on to the immense benefits of smart contracts and blockchain technology, which could mean a widespread adoption will occur within a short time-frame.
Furthermore, Ethereum has wide support amongst companies from outside China. Perhaps most notably seen by the Enterprise Ethereum Alliance (EEA) who seeks to establish collaboration around the Ethereum technology. EEA’s member list includes Samsung SDS, National Bank of Canada, San Francisco Stock Exchange, Mitsubishi, Toyota, Deloitte, Microsoft, Intel and J.P. Morgan. This will most likely increase the usages for the Ethereum platform, which will drive its price even further up.
Source: https://steemit.com/ethereum/@cryptodan/big-step-forward-for-ethereum-enterprise-ethereum-alliance-announces-86-new-members
In conclusion: New markets and new usages for the Ethereum platform could drive the price of Ethereum to new heights, which indicates that now is a good time to buy Ethereum.
What are your thoughts about Ethereum?
Comment below and follow at @cryptodan
I was not ready to buy it when it was 15$... but then begun to buy at 40$, at 100$, at 130$... I think it will really grow up. Hope with chinese people too!
It might be a real good investment. Fingers crossed then ;)
I might have to buy some...
It seems that ETH still has a lot of room for price growth, let me know if you decide to buy some :)
Yeah maybe. You think it will outgrow Bitcoin?
Hard to say really, however it has seen greater growth percentage in 2017 than Bitcoin (as far as I recall), which could indicate that it could be a somewhat better investment at the moment. I have diversified my investment and recommend others to do the same. 1/3 of my portfolio is in Bitcoin, 1/3 in Ethereum and the last third is in other altcoins (Steem included). In the end it's all about personal preferences and beliefs :)
That being said, I would say ETH has a fair chance to surpass Bitcoin eventually.
Disclaimer: I am just a bot trying to be helpful.
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