• POLITICS
  • SCIENCE
    • Astronomy
    • Physics
    • Biology
    • Geology
    • Environment
    • Medicine and Health
    • Sociology
    • Psychology
  • MOVIES & TV SHOWS
  • TECHNOLOGY
    • Artificial Intelligence
    • Virtual Reality
    • Bionics
    • Nanotechnology
    • Engineering
    • Robotics
    • Space Exploration
    • Transport
    • Industry and Service
  • GADGETS
    • Mobile Devices
    • Wearables
    • Consoles
    • Hi-Tech
  • GEEK CULTURE
    • Gaming
    • Comics
    • Thingamajigs
  • MUSIC
  • SOFTWARE
    • APPS
      • Android
      • iOS
      • Windows
  • HARDWARE
  • CARS
  • REVIEWS
  • Advertise
  • Geek Reply Jobs
  • Contact Us
Geek Reply
  • HOME
  • Editorials
  • Geek Squad
  • GeekReply Jobs
  • Contact Us
  • Facebook

  • Twitter

  • Google+

  • LinkedIn

  • RSS

Editorials

It has already grown dramatically but could Ethereum be worth more than $1,000 within the next few months?

It has already grown dramatically but could Ethereum be worth more than $1,000 within the next few months?
Saul Bowden
June 12, 2017

The meteoric rise of Ethereum has continued unabated over the last few weeks. Buoyed by Putin’s recent meeting with the founder of Ethereum and recent announcements that it’s backing group, the Ethereum Enterprise Alliance, has grown, Ethereum has gone from strength to strength. Is it possible that Ethereum be worth more than $1,000 within the next few months?

There are some indicators that this could happen. Ethereum’s market share has increased massively and it has gone from an altcoin that was not even within touching distance of BitCoin to within $10,000 of its competitors market cap. This rise is even more impressive when you consider that less than two weeks ago there was over $20,000 dollars in difference between the two.

Could Ethereum be worth more than $1,000

Ethereum has been steadily closing the gap with Bitcoin over the last month

These huge gains make it look increasingly likely that Ethereum could supplant Bitcoin and become the world’s largest cryptocurrency. If that is the case then there is every possibility that Ethereum be worth more than $1,000

Etheruem’s growth is more sustainable than other currencies like Ripple

There have been talks of other AltCoins breaking into the triple digits. Ripple briefly bounced to second place in mid-May before beginning a slow slide back to its previous values. So what makes Ethereum’s rise different? Isn’t there a risk that it will just peter out and begin declining, like Ripple?

Could Ethereum be worth more than $1,000

Ripple saw explosive growth earlier in the year which has begun to tail off.

At first glance the reasons behind Ripple and Ethereum’s are not all that different. They both began to increase in value on the back of a flurry of new investors backing the currency. They both gained some of their bounce due to large corporate backers: In Ripple’s case the Japanese banking sector, for Ethereum it is the Enterprise Ethereum Alliance (EEA). So the question is; why has Ripple begun to collapse and Ethereum kept going strong?

The main difference is in the fact that Ethereum has grown in a slower more organic fashion, whereas Ripple’s growth was explosive. Ripple’s value was inflated by an influx of inexperienced investors and Ethereum’s growth has, so far, primarily been driven by Initial Coin Offerings and increased consumer confidence following a number of new members for the EEA. This solid foundation allowed Ethereum to keep growing while Ripple collapsed.

Could Ethereum really be worth more than $1,000 in a few months?

It is probably too early to say for sure but there is a precedent here. Bitcoin itself experienced a pretty remarkable rise once it saw more mainstream takeup and it looks as though history is repeating itself with Ethereum. The theory goes that if groups like the EEA can help to prevent any potential bubbles caused by initial coin offerings then Ethereum will become increasingly attractive to investors.

Could Ethereum be worth more than $1000

Ethereum has seen significant growth over the last few months, with little sign of stopping

The possibility of Ethereum being worth more than $1,000 is not all that far fetched when one considers how far it has come this year alone. In January it began with a paltry value of $10. Over the course of just six months Ethereum is now worth around $350 Most of that growth has been over the last few months with little sign of stalling.

Of course a lot could go wrong. The Initial Coin Offering bubble could burst spectacularly, the rise of Ethereum could peter out as consumers lose interest or return to Bitcoin. Another currency could break into the market with an innovative idea. In the world of cryptocurrency just about anything is possible, Bitcoin and Ether have proven that time and again and I would never rule out a major shift in the market scuppering the hopes that Ethereum will breach into triple figures.

So, will Ethereum be worth more than $1,000 over the next few months? Looking at the history of the market and the meteoric rise of Ethereum so far I would be willing to say that I believe it more likely that Ethereum will breach that $1000 ceiling than not but in the end, only time will tell.

Post Views: 509
W3Schools
Related ItemsAltcoinBitcoinCryptoCurrencyetherEthereumfeaturedinvestment
Editorials
June 12, 2017
Saul Bowden @https://twitter.com/SaulBowden

You'll find me wandering around the Science sections mostly, excitedly waving my arms around while jumping up and down about the latest science and tech news. I am also occasionally found in the gaming section, trying to convince everyone else that linux is the future of the computer gaming.

Related ItemsAltcoinBitcoinCryptoCurrencyetherEthereumfeaturedinvestment

More in Editorials

Final Fantasy VIII Remastered

5 Reasons You NEED To Play The Final Fantasy VIII Remaster

Mike GuarinoSeptember 3, 2019
Read More
10 Huge Games Still Coming 2019

10 Huge Games Still Coming In 2019

Mike GuarinoAugust 1, 2019
Read More
Microsoft E3 2019

5 Most Exciting Announcements From The Xbox E3 2019 Press Conference

Mike GuarinoJune 10, 2019
Read More
Super Mario Maker 2 Switch

3 Best Switch Games Coming In June 2019

Mike GuarinoMay 30, 2019
Read More

20 Most Anticipated Games We’re Expecting To Play In 2019

Christopher WheatleyDecember 28, 2018
Read More
Stranger Things tabletop RPG DnD

Tabletop RPGs: A Fun Way to Play

Andrew DoughtyDecember 12, 2018
Read More
Killjoys VRV

Killjoys: The Interesting Tale of Bounty Hunters…in Space?

Andrew DoughtyDecember 12, 2018
Read More

The Growing Complexity of Lore within Games

Andrew DoughtyDecember 11, 2018
Read More
Marvel Heroes Omega

Geek is Chic

Andrew DoughtyDecember 5, 2018
Read More
Scroll for more
Tap
  • Popular

  • Latest

  • Comments

  • Orlando Bloom and David Harbour Share the Gran Turismo movie’s first trailer
    GamingJanuary 5, 2023
  • The highlight of the PSVR2 demo at CES was Horizon Call of the Mountain
    GamingJanuary 5, 2023
  • For Years, Sony Has Been Developing an Accessibility Controller for the PS5
    GamingJanuary 5, 2023
  • Remake of Silent Hill 2 Dev is “Very Safe” with Any Changes
    GadgetsJanuary 5, 2023
  • iPhone 14 – 10 LEAKED Features!
    GadgetsJanuary 20, 2022
  • Stellar Data Recovery Professional for Mac
    Stellar Data Recovery Professional for Mac- It can surely save the day
    ReviewsSeptember 26, 2019
  • PS5 in its Actual Size Seen Being Installed in Dubai
    ConsolesFebruary 1, 2023
  • According to a Digital Foundry Analysis, Dead Space PS5 is the “best-in-class” game
    ConsolesFebruary 1, 2023
  • Steel Seed, a stealth action game, has a moody PS5 announcement trailer
    GamingFebruary 1, 2023
  • On the first anniversary, Dying Light 2 Support is Detailed and the Dying Light Series Ships 30 Million
    ConsolesFebruary 1, 2023
  • Ule || TSR says:

    That is far from the intention in this article. Especially…

  • Romuska Palo Ur Laputa says:

    Most of the characters became unlikable and regressed backwards, the…

  • reversalmushroom says:

    Lauren Faust has not been part of My Little Pony…

  • reversalmushroom says:

    Like what?

Geek Reply

Greetings techies! We are Geek Reply, a website whose main goal is to bring you all the latest news and updates from within the industry and beyond. What can you expect to find here?

Professional journalism coupled with expository writing for the most part, but we also give our honest opinion or throw in a pinch of humor for good measure when we deem it necessary. Our team is comprised of enthusiasts from across a wide variety of fields ranging from smartphone junkies to camera nerds, and everything in between. But perhaps you were looking for your daily dose of science news or hoping to read about the latest apps. If that’s the case, don’t worry, you came to the right place.

GeekReply Secured with GeekReply Scured
Nintendo Switch GeekReply

Copyright © 2022 GeekReply - Webdesign & Marketing - iPublicitate

The EaseUS Data Recovery Wizard could be one of the best ways to recover your data for free
A new startup Flexpat is hoping to make remote work the way of the future