Cryptocurrency is something that has become synonymous with the year 2018.It has managed to gain massive popularity. Every day one could hear news avbout these cryptocurrencies in the news channels, offices, shopping malls, gyms etc. December 2017 turned out to be a great time for cryptocurrencies as their prices soared like never before thereby rising its demand. People who invested in these cryptocurrencies became rich overnight and went about setting a new example for future investors. Some of the most acclaimed cryptocurrencies of the day are the Bitcoin and Ethereum.
Ethereum was the first cryptocurrency which made use of smart contracts. It was invented in the year 2014 by Vitalik Buterin It has now emerged as the second most preferred cryptocurrency in the world , the first being Bitcoin. The currency unit of Ethereum is called as Ether in short and has created waves in the world of finance in a short span of time. Ethereum is a platform using which you can build apps on the Block chain. The smart contracts on which it works can be compared to invoices.
The price of Ethereum is based on the simple concept of supply and demand. If supply is more and demand is less, the price of this currency reduces. On the other hand, if demand is more compared to supply, the price of Ether increases. Media also plays a crucial role in determining the price of Ethereum. If experts in the media predict that the price of Ethereum is going to raise, people usually listen to them and start purchasing the currency thereby fuelling an increase in its demand.
When it comes to Ethereum Forecast, some experts are predicting that the price of Ethereum could increase up to $100,000 by the end of 2018 which is a highly optimistic forecast. Steven Nerayoff,the cofounder of Ethereum predicts that the price of Ethereum could triple by the end of 2018.Even Buterin, the founder of Ethereum has predicted a positive forecast for 2018 for Ethereum. Ethereum has emerged as a basic cryptocurrency. On the basis of this, many other cryptocurrencies are being built. Thus one can safely assume that it is highly unlikely that Ethereum will crash. Even if it crashes, it will recover very soon because of the huge stakes involved.
One should however understand that Ethereum Forecast is nothing but a set of predictions. At any given time, it could crash or its price can increase drastically. Not even a single person cannot be sure of what happens to the price of Ethereum tomorrow or over the coming days.