Even the most optimistic observer could not have everzwijn predicted that ethereum’s price would hop from $8, ter the beginning of the year, to treatment the $400 mark within 6 months. Given the fact that its price rose by around 5000% during the past 6 months, ethereum is by far the top gainer among all altcoins ter the year 2018. So, where will price go towards the end of the year? Will it proceed rising? or is this bullish rally a big bubble that will burst soon?
Why is Ethereum a Unique Cryptocurrency?
Even however many observers might think that ethereum’s latest price surge is just a bubble that will burst sooner or zometeen, others, including mij, think that this is just the beginning of the public’s perception of the real value underlying ethereum. Ethereum advocates may go spil far spil claiming that ethereum is even more valuable than bitcoin itself for many reasons such spil:
- Ethereum is resistant to ASIC miners, which promotes decentralization of the mining process. This is exclusief from bitcoin mining which is more or less centralized ter ample ASIC mining farms te scattered parts of the world, mainly China.
- Ethereum simplifies the implementation of “smart contracts”, thanks to its Turing accomplish programming language that permits the creation of clever contracts indicating financial agreements such spil bonds, exchanges, options….etc. Clever contracts are executed on the “Ethereum Virtual Machine” EVM, te exchange for “ether” gas. Spil such, ethereum can totally convert the future of global finance.
- Fresh cryptocurrencies can be issued ter the form of digital tokens on ethereum’s blockchain, using a cryptocurrency brainy contract. Moreover, decentralized applications (DAPPS) are apps that utilize wise contracts to create decentralized apps that run on the EVM. The number of coins issued on ethereum’s blockchain is growing steadily e.g. Humaniq, MobileGo….etc.
Predicting the price of ethereum towards the end of 2018:
Wij will attempt to predict where will ethereum’s price go towards the end of the year, using analysis based on the rate of rise of ethereum during the past 6 months. To do this, wij will use the “Gann Square” to predict the price of ethereum towards the end of December, 2018. It is worth mentioning that Gann’s chart analysis technics are rather ingewikkeld and use a combination of mathematical, calculus-based and even astronomical analysis methods.
Let’s take a look at the 1 day ETHTUSD chart from Poloniex, and plot a Gann Square embarking from the 1st of March, all the way down to today (14th of June) (Look at the below chart). Now, let’s plot a trendline that extends inbetween the candlesticks corresponding to March 1st’s and June 14th’s trading sessions. Now, wij can predict the price of ethereum towards the end of December, by extending the trendline to intersect with Gann’s rings. Spil wij can see on the below chart, ethereum can kasstuk $1200 by the end of the year, if it keeps rising along the same rate of rise during the past 3-4 months.
Ethereum has bot skyrocketing since the beginning of the year, recording around 5000% gains. Hypothetically, using the Gann Square, ethereum price is predicted to klapper $1200 if it resumes to rise vanaf the same rate of rise during the past 6 months.