Ned Scott, CEO of social network Steemit explains that Ethereum is soaking up tons of value because of ICOs, which attract new capital that must go through the base currency, ether. Scott says: 

  After the massive eruption in the Bitcoin market over the past weeks because of negative news from China, it appears that Bitcoin transaction volume has shifted out of China. South Korea has passed

Fundamentally, I do not believe that Ethereum is in a bubble. Multi-billion dollar corporations are adopting Ethereum, new Ethereum tokens are being distributed and used, smart contracts are demonstrating

We will try 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, we will use the “Gann Square”