Today we're going discuss the Top 5 reasons why I believe you should buy Ethereum:
- Brand Recognition
Ask the average person what Bitcoin is and most still have no idea. Ask them for an alternative to Bitcoin and you'll confuse them even more. People just don't know much about crpytocurrency, we are still in its early adoption stage, and that's why any sort of brand recognition in today's emerging crypto market is vital. Ethereum or Ether for short is proving to be amongst the most popular and recognizable alternatives to Bitcoin. Their sleek logo and slick name stand out.
Market Cap Size
They say numbers don't lie and while that may not always be true it certainly supports our case. Ethereum is one if not the most comparable alternative to Bitcoin currently holding the #2 position in overall market capitalization size with an estimated value of about $4.2 billion dollars.Scalability and Capacity
One of the major arguments surrounding the Bitcoin community is its transaction capacity. Bitcoin transaction takes long, sometimes over 10 minutes. A clever workaround to this problem called Segwit is being proposed which will increase the block chain size from 1MB to 2MB. But many in the Bitcoin community still disagree with Segwit and as a result Bitcoin's price plummeted from about $1200 to under $1000 last month. Bitcoin has since recovered from its March crash but the capacity debate has not been resolved. Ethereum has no such a problem. Transactions take about 2 minutes. Their system is built to scale.Smart Contracts
Ethereum isn't really a crypto currency as it is a virtual machine and its ability to run smart contracts without the possibility of downtime censorship or third party interference is one of its main attractions. There's a growing number of apps using the Ehtereum platform like Golem a global open sourced decentralized supercomputer, sort of Uber for computers where anyone can make money renting out their computing power, or Augur, a decentralized predictive network where user can get rewarded for accurately predicting the outcome of real world events and earn real money trading profits. Think of Ethereum as the gas running these smart contracts. Augur is not yet fully functional as its currently only in its beta stage yet its trading currency REP is already trading over $10 and is top ten as far as market capitalization size. Expect Augur and subsequently Ethereum to rise in price once Augur is officially released.
- Price
The price of Ethereum shot from about $15 to over $50 this past March before taking a small dive and settling at its current price of about $44. The sharp spike in price was most likely due to speculators looking to invest in an alternative cryptocurrency after Bitcoin crashed. But notice that after that crash, when Bitcoin's price rose back up, Ethereum's price didn't decrease very much at all, in fact, its price remained in the low $40 range.
Prediction
My prediction is that over the next year to year and a half, Ethereum's price could behave as DASH coin did recently and jump to $100 before dipping back down to around $70 or $80. There's yet to be an alternative coin to maintain a steady price over $100 but don't be surprised if Ethereum overcomes DASH in price, continues to climb, and eventually levels out at a price of about $100 by late 2018.