Cryptocurrencies have become a massive market, with more than 1,800 virtual coins traded on digital exchanges around the world. In the early days of 2018, the crypto market cap reached nearly $814 billion, while daily trading volumes topped $71 billion on January 4, according to data from CoinMarketCap. Activity has subsided significantly since then, but interest in these digital assets remains strong despite skepticism from traditional investors and the lack of regulation. Regardless of whether the market ebbs or flows, about 10 major coins account for the bulk of trading, most notably Bitcoin (BTC), Ether (ETH), and Ripple (XRP). While Bitcoin remains the most popular cryptocurrency and the leader by both market cap and trading volumes, ETH has enjoyed steadily rising popularity on account of its association with the highly-regarded Ethereum blockchain network, which is deemed superior because of its smart contracts functionality. Given the volatility of the cryptocurrency market, price predictions are extremely hard to make, but most analysts and investors appear to be overall bullish on ETH, says acclaimed forex trading expert Pablo Soria de Lachica.
Ether hit an all-time high early in 2018, shooting beyond $1,400 on January 10 in what represented a staggering gain of more than 17,000% in the span of a year. As is typical of most leading cryptocurrencies, this momentum proved unsustainable, and the coin has been trading recently in the range of $320 to about $500. Despite the fluctuations, Ether is a rare example of a digital coin that has most market participants excited about its potential and future price, Pablo Soria de Lachica notes. One of the greatest optimists is Olaf Carlson-Wee, whose Polychain Capital became the first crypto investment fund to exceed $1 billion. He famously predicted that the market capitalization of Ethereum (currently at around $33 billion) would soon overtake that of Bitcoin. Projections for the ETH price vary, but most forecasts suggest a number between $1,000 and $2,500 by the end of 2018. Among the most conservative estimates is that of Investing Haven, which sees Ether reaching $1,000 by 2020. According to Alexis Ohanian, co-founder of social platform Reddit, ETH will rise to $1,500 by the end of 2018. Markedly more optimistic is Nigel Green, founder and CEO of financial consultancy deVere Group, who told MarketWatch in April that the coin could grow in value to $2,500 and register further gains in 2019 and 2020.
While making predictions for a volatile market is tricky, the Ether bulls have solid reasons for their upbeat mood, Pablo Soria de Lachica points out. As Green wrote in his email to MarketWatch, “This general upswing will be fueled by three mains drivers. First, more and more platforms are using Ethereum as a means of trading. Second, the increased use of smart contracts by Ethereum. And third, the decentralization of cloud computing.” He also noted that the cryptocurrency market would definitely get regulated, which would result in protection for investors and long-term confidence in digital assets. eToro senior analyst Mati Greenspan told Forbes, “The Ethereum blockchain is currently the most widely used and the most stable network,” with Tim Enneking of Crypto Asset Management adding, “The use case of ETH is simply far more compelling that the use case for BTC.”
Pablo Soria de Lachica,who holds an MBA from Universidad Tecnologico de Mexico (UNITEC), ranks among the most prominent members of the global forex trading community. He is committed to maximizing profits for his clients by combining professional guidance and educational projects. The broker is currently collaborating with Kartoshka – a company promoting the latest technologies in sales, telemarketing, and customer support.
Pablo Soria de Lachica Explains the Advantages of Ethereum-Based Smart Contracts: https://finance.yahoo.com/news/pablo-soria-lachica-explains-advantages-205500267.html