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 made by ‘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 to investors addressing ‘Fundstrat Global Advisors, Tom Lee noted the “overly negative” sentiment on the Ethereum market, that according to him are the basis for its sturdy rebound within the close approaching future.
In his prediction, Lee referred the historical performance of Ethereum [ETH], citing that the days when the altcoin underperformed peers by 2 standard deviations, the worth trend saw a consequent reverse.
Tom Lee added that Ethereum [ETH] would reach $1,900 USD by the year 2019 — a price purpose that’s a min. 40% more than Ethereum’s incomparable high of $1,349 USD which was recorded on Jan. 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 in relation to major digital currency Bitcoin [BTC], predicting that the major cryptocurrency might trade in-between $22,000 USD to $25,000 USD by the end of this year. Recently, the crypto analyst also predicted that Bitcoin [BTC] “could finish this year explosively high,” citing a correlation between the BTC and the rising markets.
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 that the rising growth of crypto trade and blockchain industries is currently reaching a “ceiling,” and is moving from “just folks being interested” to the next phrase of “real applications of real economic activity.”
Buterin further explained that the amount of explosive growth within the sphere is probably finishing to an end now, a result of the amount of superficial awareness concerning the trade has considerably became mature, and is probably going to plateau:
“If you discuss witha common educated person at this time, they all probability have heard of the blockchain for atleast once. There isn’t a chance for yet one morethousand times growth within thespace anymore now.”
Crypto markets have seen a dramatic decline in terms of total capitalization of all digital currencies throughout entire 2018. In January, total market capitalization of all digital currencies hit more than $800 Bln’s Mark. This height in total market cap has been followed by a gradual worsening with the present total 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 by the end of 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.