Ethereum has been gone PARABOLIC. The hockey stick pattern has been formed in a nearly upward direction, defying gravity!
The price hit $400 and has since taken a much needed breather.
Market Cap
It’s market cap has been catching up to Bitcoin and will most likely surpass it in the near future. Funds have been finding their way into Ethereum at an ever-increasing rate.
If the market cap increases, we can say with certainty that the price will go up as well.
I expect the price of Ethereum to increase and my expectations are that we could see the price of Bitcoin and Ethereum to be at the same level. Just imagine the price appreciation potential.
Possible Setbacks
The Mt. Gox hack was the biggest event in cryptocurrency news. At that time, Gox was practically the only player in town. Today however, there are hundreds of exchanges. That increases the security and reduces the chances of this happening again. Having said that, hacks, glitches, and outages could happen again and could give short or medium term disruptions in the price.
The Bitcoin hard fork. The community is split on this decision and I have reason to believe this will cause short term volatility. As a result, more money could flow into Ethereum.
Ethereum is supposedly moving from Proof of Work, over to Proof of Stake. This could be beneficial for Ethereum but every change can cause a problem temporarily.
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The potential is truly very high.
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