Are We Coming Closer “To the Moon” or What Are The Prospects for Ethereum in 2019?
Last year turned to be very difficult for the second cryptocurrency, Ethereum cost was down to $85 for one coin, although the ETH rate reached $1,417 at its peak in January 2018. As of the time of writing this article, the Ethereum`s rate is $147, that means, the coin has slipped almost 10 times in a year. Many investors are wondering what will happen to the project in 2019, is it worth buying this asset now, or vice versa, its time has passed and ETH rate will only decrease in the future? In this article, we will try to understand this issue. But it should be remembered that everything you read here is only an assumption, not a guide to action.
1. Fundamental analysisAs it was mentioned above, the rate of Ethereum to the dollar fell by almost 93% for the year. Even for a short period of time, but the capitalization of Ethereum has decreased so much that the brainchild of Vitalik Buterin took 3rd place in the global ranking of CoinMarketCap. At a critical moment for Ethereum, the capitalization gap with Ripple was about $5 billion. Now ETH is in second place again and, as a fundamental analysis shows, this year should be much more promising than the previous one.
The fundamental reasons for the growth of ETH rate in 2019
- Ethereum blockchain is still the most technologically advanced and popular platform for launching new cryptocurrency projects.
- The upcoming hardfork “Constantinople”. It was scheduled for January 2019, but because of a critical error found, it was postponed for an unknown date at the last moment. Just recently, it became known that the upcoming, very important update will happen on February 28, 2019.
- Issue of Ethereum 2.0, which will include the long-awaited Casper. The transition of the network to another consensus of confirmation, namely on the Proof of Stake, as well as the support of sharding, will favorably affect the coin`s value. There is no final launch date yet, but it is rumored that this could happen in 2019.