I've been looking at charts which is not something I do very often these days but the Ethereum chart looks very exciting. In fact, it is ahead of schedule in terms of where I predicted it would be but not far off. I still hold to my prediction that Ethereum will be over $10,000 before the end of this year, which would mean 1 trillion dollar market cap. This is if crypto keeps growing unopposed and Ethereum simply holds onto it's current momentum. If Casper is a success we may see this happen and a lot of speculation right now is in my opinion based on the fact that Ethereum is converting to Proof of Stake and the initial tests have been successful from a technical perspective.
Ethereum vs Ripple
Ethereum and Ripple had this similar battle in 2017 when they both had big run ups. Now we are seeing a similar chain of events but in this time I think Ethereum is moving up based on it's future potential while Ripple I think was more pump and dump. Again we cannot predict these things and I offer no investment advice but the Ripple technology does not seem to have been advancing and evolving at the rate of Ethereum. If we take the rate of evolution of a technology as a metric and look at how quickly it is being improved on then Ethereum looks very very good.
Prediction, Ethereum will reach $2000 within the next week
And my prediction is that Ethereum is headed to $2000 in the immediate time frame. The medium time frame is less clear as I expect there to be a period of consolidation after peaking slightly above $2000 such as $2200. This period could result in a crash in price back to $1000 or it could move sideways but eventually we will see over $5000. The time frame for that could be late spring to early summer, or it could be in mid summer, all depending on the rate of speed which the Ethereum team can solve their scaling issues and implement Proof of Stake.
- The rate of price rise in Ethereum I predict is going to be correlated with the rate of improvement on issues of scalability and proof of stake
- The overall price of Ethereum at the end of the year will in my opinion depend on the size of the total market cap for all crypto which means in a possible percentage correlation with the overall crypto market cap. If the total market cap rises into say 3 trillion then we could see Ethereum reach $900 and if it goes to 4-5 trillion then we could see $10,000+, all depending on the bullishness of the market.
- Ripple I do not have the research to say for sure but if they cannot keep up with the rate of improvement of Ethereum then their price is not justified and as a result will at some point crash. I try to find out where demand for XRP is to come from and cannot find it.