Several major experts from the field of cryptocurrency and blockchain technology have predicted the future of the crypto market namely Tom Lee, Vitalik Buterin along with Alexis Ohanian.
According to a recent prediction madeby ‘Tom Lee’, Ethereum [ETH] is about to undergo a trend reversal and rally strongly upto the $1,900 USD mark by the tip of the year 2019.
In line toinvestorsaddressing ‘FundstratGlobalAdvisors, Tom Lee noted the “overly negative” sentiment on the Ethereum market,thataccording to himarethe basis for itssturdyreboundwithin theclose approaching future.
In his prediction, Lee referred the historical performance of Ethereum [ETH], citing thatthe dayswhenthe altcoin underperformed peers by2standarddeviations,the worthtrend saw aconsequentreverse.
Tom Leeaddedthat Ethereum [ETH]wouldreach $1,900 USD bytheyear 2019 — apricepurposethat’sa min.40% more thanEthereum’sincomparablehigh of $1,349 USD which was recorded onJan. 2018.The current price of Ethereum [ETH] is valued around $226.43 USD at the reporting time, however, as per Lee, he expects a hike of more than 700% by the end of next year.
Earlier in July, Tom Lee reiterated his bull position inrelation tomajor digital currency Bitcoin [BTC], predicting that the major cryptocurrencymighttrade in-between $22,000 USD to $25,000 USD bythe endof this year.Recently, the crypto analystalso predicted that Bitcoin [BTC] “couldfinishthis year explosively high,” citing a correlation between the BTC and therisingmarkets.
While the co-founder of Ethereum [ETH] Vitalik Buterin in an interview with the Bloomberg at an Ethereum and blockchain related conference held in Hong Kong have completely different views about the market growth stating thattherising growthof crypto trade and blockchainindustriesiscurrentlyreaching a “ceiling,” and is moving from “justfolksbeing interested” to the next phrase of “real applications of real economic activity.”
Buterin further explained thatthe amountof explosive growthwithin thesphereis probablyfinishingto an end now, a result ofthe amountof superficial awarenessconcerningthetradehasconsiderably becamemature, andis probably goingto plateau:
“If youdiscuss witha commoneducated person atthis time, theyall probabilityhaveheardof the blockchainfor atleastonce. There isn’ta chanceforyet one morethousand timesgrowthwithin thespace anymore now.”
Crypto markets have seen a dramatic decline in terms of totalcapitalizationof all digital currenciesthroughout entire2018. In January, total market capitalization of all digital currencies hit more than $800 Bln’sMark.This heightin total market cap has been followed by a gradualworseningwith thepresenttotal market capitalization figure of even less than $200 Bln as for now.
In July, co-founder of Reddit ‘Alexis Ohanian’ also predicted that the price of Bitcoin and Ethereum would be somewhere around $20,000 USD and $1,500 USD bythe endof this year.
However BTC still waving around a price mark of $6,000 USD since late July, it is possible for the asset to show strength and momentum by this years end, a period in which the crypto market historically tends to regain large profits.