In April, Ethereum reached a new milestone with a 280% gain this year. The figures look promising, but will this trend continue? With a $321 billion market capitalization and 115.67 million coins circulating right now, how can one benefit from the rally that’s taking place right now?
What Is Ethereum?
Let’s start from the basics. In layman’s terms, Ethereum (ETH) is a community built technology and serves as an open access point to digitized money and services for everyone.
Understanding The Difference- Ethereum VS Bitcoin
While we are all pretty much acquainted with Bitcoin; Ethereum is basically built on Bitcoin’s revolution. Both coins are the most popular and favorable coins to invest in right now, but they are not similar. While everyone knows what Bitcoin is, not many are familiar with Ether and it’s grand capabilities. Ethereum is the second largest crypto that is most favorable amongst developers that launch decentralized finance (DeFI). Also, it’s the top choice for developers in the non-fungible (NFT) token sales.
The difference between Ethereum and Bitcoin is that Ethereum is programmable, thus enabling its use for different areas, especially payment systems. It uses ledger technology and has a function in the digitized world. Bitcoin on the other hand, is basically a crypto currency, otherwise known as the “digital dollar”. Both coins are also mined differently, with Ethereum, also known as “Ether”, is more robust. It’s also mined differently albeit that both coins are derived from blockchain technology.
What Makes Ethereum Unique
Founded by Vitalink Buterin in 2014, the aim of Ether is to run smart contracts and bring about an effective change to various processes that would otherwise be too much of a complicated task. Ethereum removes the middle man, in basic terms and can be applied to financial, medical, governmental, and legal systems, just to name a few.
Some processes that ethereum can enhance in an efficient, instantaneous matter includes;
- Accessing medical information easily- Accessing anything to do with medical details, prescriptions and more
- Manage your identity online – This includes identity documents and any other legal documents that can’t be forged easily
- Avoid 3rd party disruptions- decrease data collection by making it hard for your personal information to get into unwanted hands
These are just a drop in the ocean when it comes to the effectiveness and revolution that Ethereum brings to digitizing the world.
Ethereum Price Prediction
Owing to its success and stark rise in early 2021, all eyes are on this cryptocurrency, with some experts from Topbrokerstrade.com believing that in due time, it may outperform Bitcoin. Anything is possible, but let’s take a more realistic approach.
What The Experts Are Saying
Before we delve into the AI forecasts, let’s take a peek at what the big players and the experts are saying about Ethereum.
Mark Cuban, billionaire investor believes that Ethereum will “dwarf” Bitcoin, especially after the upgrades. He also divulged that he owns more Ether than Bitcoin right now.
The co-founder and CEO of real vision group thinks that ETH will continue to rise and possibly outshine the rest of the coins; coming out on top of the charts. Furthermore, he stated on Twitter that he is even thinking of selling his bitcoin and investing all his money in Ethereum.
AI Forecasts
While the experts have weighed in on their personal forecasts for Ethereum, many algorithm based forecasts also have a prediction backed by trends and data collected overtime.
Forecasting services such as wallet investor and Economic Forecast Agency both have optimistic predictions for the rise in ethereum in 2021.
Wallet Investor
Sees a steady rise of 4,326 by the end of december, and 7829 by the end of 2022
Economic Forecast Agency
Economic forecast agency believes that the ethereum price will peak at around $13 000 by the end of 2021 and a $6500 ethereum forecast by the end of May.
The Best Way To Buy Ethereum
If you’re looking to invest and want to know how to buy ethereum, there’s a plethora of platforms and exchanges that offer you the opportunity to buy ETH. Who knows, maybe you will be the world’s next crypto billionaire? If you are looking to invest in Ethereum, consider buying from trusted and authenticated sources. Your best bet would be from a renowned crypto exchange platform.
Key Points
With Ethereum skyrocketing in 2021, the coin has gained momentum not only in value but also in popularity. More and more people are becoming acquainted with this formidable blockchain technology that is set to rise to it’s own respective stardom, which it surely deserves.
Both the key players in the industry and AI forecasting predict a winning journey for this programmable coin. Ethereum is also available to buy in most major crypto exchanges, for the best rates. To buy ethereum is the best investment of this year, and is bound to shoot up in the near future.