Ethereum will hit 330.00 by the end of the year, despite China’s crackdown

Credits: iStock.com/BackyardProduction

Ethereum price prediction 2017

Ethereum price predictions 2017 can feel like shots in the dark at times. Cryptocurrencies in general can make some analysts feel like they have a better chance of picking the victorious March Madness bracket. But when it comes to the Ethereum price prediction, I think there’s a good chance ETH will bounce back and hit a healthy $ 330.00 by the end of the year, even with the most recent hit that came about on Ethereum due to the bad news about China .

You see, the Chinese ICO ban resulted in a massive drop in ETH prices, with Ethereum equaling roughly $ 227.00 per coin to USD at its expected low. Whenever you suddenly foreclose an emerging industry from one of the largest and richest markets in the world, there will of course be a setback.

In the case of the news on the Chinese cryptocurrency exchange, this was not entirely unexpected as China has long had a very protectionist monetary policy aimed at keeping the wealth in the country. Bitcoin, Ethereum and blockchain technology in general threaten the country’s goals of keeping wealth within its borders, so some kind of regulation was a long time coming.

But unexpected or not, it had an impact on Ethereum prices. ETH prices fell to their current level of around USD 263.00, well below the high of around USD 390.00. And Ethereum isn’t the only coin feeling the pain of the Chinese ICO ban. Bitcoin also fell about 25%.

And that brings us to the tricky part of Ethereum price predictions. If you asked a bullish analyst about their Ethereum price prediction during the summer months, any of them who said it would end at $ 330.00 in 2017 would claim that this value is way, way too low. I am subscribing to this list.

But the thing is, the cryptocurrency market has so many twists and turns (there is so much potential in coins than speculative investments, after all) that even with all the data in the world available, there is no certainty that a split or hacking or news events will be your prediction don’t get derailed one way or another.

But what’s important here is that Ethereum is still enjoying a fantastic run this year no matter what you predicted. Along with BTC and other cryptocurrencies, coins have all risen at the same time, many of them dwarfing all-time highs and aiming to only move higher.

also read: Bitcoin vs Ethereum: The Best Digital Currencies for 2017

In one year alone, the coin rose from at times in the single-digit range to over USD 263.00 now. That’s a massive, massive return on investment that will make potential buyers salivate.

While ETH is unlikely to see such growth next year, it by no means rules out massive gains of over 50% in 2018.

But what I think is the safer thing is that we’re going to see a more moderate spike for the 2017 Ethereum price projections, with ETH prices staying pretty stable and rising to the top, reaching around $ 350.00 at best, but more likely are at $ 330.00.

While they aren’t record-breaking returns, an increase of over 20% in just a few months is nothing to sneeze at. It may not be the hundreds of percentage points in profits that are already codified in legends and myths – “the guy who put $ 10,000 in Bitcoin and became a multimillionaire a few years later” – but it’s still a good choice for those looking for a solid cryptocurrency.

Ethereum vs Bitcoin: What the Ethereum Price Chart Reveals

Perhaps the biggest decision a buyer has to make is between the two largest cryptocurrencies: BTC and ETH.

Ethereum price table

Data courtesy of CoinDesk

While I believe that the Bitcoin price prediction for the next year will ultimately outperform the Ethereum price prediction, I think that shouldn’t deter investors from buying ETH. In fact, I believe the 2017 Ethereum price predictions – where we expect slow and steady growth if the news permits – will soar to a strong 2018 with the coin really challenging BTC as the top dog.

The reason I’m optimistic about Ethereum is because I like its organizational structure. I know that people who really believe in the power of Bitcoin are happy to support its decentralized nature, but that decentralization comes at a price. Ethereum is trying to get the best of both worlds, with a very public creator lobbying for the coin while the program is still running on blockchain technology, maintaining the potential of all coins in the market.

Vitalik Buterin, the child prodigy behind ETH, recently claimed that Ethereum can keep up Visa Credit cards in terms of size and uses. (Source: “Ethereum will be on par with Visa in ‘a few years'”, says the founder, “TechCrunch, September 18, 2017.)

And that’s one of the main reasons why I like ETH so much. While the even more decentralized nature of Bitcoin will appeal to cryptocurrency purists, there is some evidence to suggest that you have a voice in your corner spreading all of your good news and giving your product a strong face. Bitcoin lacks that, and I believe Buterin’s presence, along with its reputation for technology, innovation, and propelling the cryptocurrency market into a more efficient future, is a huge boon to my long-term Ethereum price prediction.

Analysts take:

Despite a setback like the Chinese ICO ban, ETH is poised to have a strong, if not spectacular, run for the remainder of 2017 and prepare for an even more productive 2018.

I would even argue that Ethereum is poised to crack down on BTC as the largest coin by market cap. Of course that’s a big “if” and I’m still more likely to give it to the throne from the outside, but it definitely has a chance for a puncher.

With that in mind, my 2017 Ethereum price predictions are optimistic as we near the end of the year. I believe that even if BTC has a better degree in 2017, due to the strength of its technology, its founder and the fact that there is still a lot of potential to be developed in ETH, it could be the better long-term investment.

Comments are closed.