Will Ethereum Hit $1000 in the Future? (Ethereum Price Prediction)

Daily Data and Price:

ethereum price

Why Such a Boom in Price?

In July of 2015, Ethereum had its initial release and has ever since been rising in price. You may wonder what the catalyst is behind such an increase in valuation. Ethereum features a decentralized platform that includes smart contracts. The smart contracts are created with scripting and the goal is to move toward artificial intelligence in the Fintech world eventually.

Keep in mind that this goal will take time to achieve and won’t occur overnight. I believe every industry in the world is going to be disrupted by this technology. Imagine a society that doesn’t have to rely on a third party like a bank or company to move money around.

When I made the statement about ‘artificial intelligence’ earlier, I wasn’t referring to robots taking over the future or something crazy. The technology just represents a picture of what the world could be like if computers were fast enough and built with enough smarts to run the whole globes finances.

Two companies that have really been creating significant speeds as chipmakers are Nvidia and AMD. The chips they make now have equivalent processing power to the supercomputers used in 2007.

If we get to the level i’m thinking with Ethereum, then the valuation and price should be at a higher multiple. Ethereum’s price may have run too quick too fast but if you are in it for the long term valuation then right now it is trading at a discount. At a $60 billion dollar market cap there is plenty of upside especially with Apple making a move toward the trillion dollar market cap.

Most people you will talk to will assume the crypto currency market is a bubble. But they are only saying this because they hear it from people on the news or CNBC which are always wrong by the way. Just think about the NASDAQ at the peak of 1999. The total market cap was near $6 trillion and yet today the market cap of all crypto is about $550 billion.

I still see a huge amount of asymmetric upside due to the fact that crypto is just starting to touch the masses. I was at lunch the other day with my company which I won’t reveal the name of but noticed something interesting. Not one person at the table owned crypto let alone really knew how the technology worked. They thought it was crazy or too risky.

This is how I know there is still so much opportunity to come. The minute I walk into work and everybody is raving about crypto will be the peak of the bubble. Today there is still many people that will get stopped into this market. You will see higher prices as we move into the biggest year for crypto. In 2018, I think we will see masssive inflow like never before and we already seeing this with ‘smart money’.

In my mind, I have an Ethereum price prediction pegging the $1000 by mid next year. This level is a huge psychological area for investors. I think once this round number gets broken you could see a very fast rally afterwards. All fibonacci sequences point toward this level getting tested.