The Ethereum blockchain project, introduced in 2015, can boast of a few eventful years in its rather young history. Its three founders — Vitalik Buterin, Gavin Wood & Jeffrey Wilcke — have turned ETH into cryptocurrency with the second-largest market cap since its publication
Today, the Ethereum platform serves as the basis for many blockchain projects and ERC tokens that provide services or agreements via so-called smart contracts. Such projects are referred to as decentralized applications (dApps).
A lot of projects based on the Ethereum platform have contributed significantly to overall success in the recent past. That is, nowadays more and more people wonder how can ethereum price prediction 2020 look like. It’s necessary to note that 2020 can be a very special year for Ethereum.
A common interest in Ethereum is increasing. Moreover, the entire platform could reinvent itself quite soon. The Ethereum protocol is about to transition into its final 2.0 version, which will provide a lot of improvements.
Therefore, in this article, we will try to make ethereum price prediction as well as a forecast for 2020. You will find out how Ethereum has developed recently and which major events have a significant impact on its rate. Let’s get started!
Ethereum Price Prediction 2020: What Happened over the Last Few Months
Despite the fact that a lot of experts have already made their price prediction ethereum rate changed a lot in the last few months. It’s necessary to consider important historical events of such an unpredictable year like 2020. That is, before making our own ethereum price prediction, let’s first bring back the past.
The first half of 2020 was marked by a sharp increase in prices at the beginning of the year, a sharp drop due to the coronavirus crisis, and optimistic news about the upcoming release of Ethereum 2.0.
However, this rise was short-lived because the spread of coronavirus had its first effects on the crypto market. As soon as many positive Ethereum 2.0 reports and the emerging DeFi sector led to the $300 mark, the price crashed significantly in March.
At that period of time, the rate was around $110. The price continued to change for some time before it went up slightly at the end of the month. That is, ethereum price prediction 2020 was already known to the experts. Although the crisis was far from over, and the traditional financial market was still licking its wounds, Ethereum and many other cryptocurrencies continued to go up.
So far, the annual maximum has not been reached yet, but the ETH rate was around $200 shortly before the end of the first half of the year. But how can we talk about a recent price increase, while the whole world is still suffering from the coronavirus crisis? The headlines of the past few weeks are the answers.
In addition to the general panic due to the global economic crisis, these ones led to serious price losses. More and more investors became interested in the Ethereum platform and invested in the cryptocurrency. Many investors are aware of the potential the crypto project has, and consider it as a long-term success.
Ethereum Classic Price Prediction: What Factors Affect Its Rate
Let’s make ethereum classic price prediction as well. Ethereum Classic forecast of 2020 is generally favorable in relation to the US dollar. Modern software tools allow exchanging cryptocurrencies among themselves as well as for real money.
At the same time, both versions of ETH are in high demand and can become a direct competitor to bitcoin. However, in order to make ethereum classic future price prediction, as well as find out whether the rate is about to increase or decrease, you should pay attention to the following factors:
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- Ethereum Classic received support from both the largest exchanges and miners around the world;
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- Banking institutions, telecommunications organizations, software manufacturers, and other large companies are actively showing interest in cryptocurrency operations as well as investing funds in this promising area. The more investments are attracted, the higher the final exchange rate;
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- Although the program structure of the project hasn’t changed, the planned emission has a positive effect on liquidity;
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- A fork contributed to a sharp depreciation, followed by restoration to the previous level and further growth;
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- An unstable condition makes Ethereum Classic sought-after for traders who positively influence the final rate.
Ethereum Future Price Prediction: Immense Changes Are About to Come
Before answering a ‘What is ethereum future price prediction’ question, it’s necessary to note that Ethereum still expects immense changes in the second half of 2020.
If you look at the rate so far, ETH has already broken through one or the other resistance level. In particular, the high resistance of $180 to $190 at the end of last year was easily broken in February 2020.
At the latest one was when the resistance dropped to around $330, which was also the peak of last year. Another important fact is that despite the global coronavirus crisis and the sharp drop in prices, Ethereum didn’t fall below the minimum of 2019. What do the experts say about a possible Ethereum price forecast?
The experts’ forecasts won’t differ a lot. This is certainly due to the natural volatility of the cryptocurrency. However, in our opinion, a lot of many of Ethereum 2.0 forecast reviews lack an important factor.
If you look at the recent Bitcoin Halving, you can see what effects crucial events can have on a cryptocurrency. While the very first cryptocurrency was affected by the coronavirus crisis recently, it hit the $10,000 mark again just before the halving. That’s is, different forecasts of many experts from the crypto world are really surprising. Some of them expect smaller increases, while others assume a new all-time high.
How High Could Ethereum Go: Switchere Team’s Price Prediction
Today, we can’t make an exact ethereum classic price prediction as well as predict how the price of the second-largest cryptocurrency by market capitalization will act. However, the final update has the potential for a positive price jump, at least on paper.
So far, the year has been quite changeable for the ETH rate. A rapid increase in share prices was followed by the crash caused by the coronavirus pandemic.
However, Ethereum was able to recover from this crash surprisingly quickly. The main reason for this was a positive image that the project was able to create in the media. In addition to the successful dApps & Ethereum 2.0 test phase, increasing interest from institutional investors also ensured further success.
Our forecast is basically the same as that of many experts. They are almost always expecting a slightly higher price than the current one ($212 as of May 18, 2020). Opinions range from peaks between $350 and $390 to very optimistic forecasts with prices much higher than $2,000.
Unfortunately, it’s impossible to say exactly which Ethereum 2020 forecast will ultimately be the right one, but according to the current statistics, the future of Ethereum looks very positive.
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