Crypto Analyzer

Ethereum Price Predicted to Reach $500 by End of 2018

An art-tech expert, Ian Mcleod from Thomas Crown Art, predicts that the price of Ethereum will soar to $500 by the end of 2018, despite its recent lows. Ethereum, the world’s second largest cryptocurrency, has seen a significant drop from its all-time high of $1,185 in January to $203 today.

McLeod believes that there will be a trend reversal in the upcoming months, leading Ethereum back into a bullish market with substantial gains. He anticipates that Ethereum will not only hit $500 by the end of the year but will continue on an upward trajectory throughout 2019.

The Rise of Ethereum Fueled by Art and Blockchain Technology

McLeod attributes part of Ethereum’s projected rise to the growing adoption of blockchain technology in various sectors such as art, real estate, and antiques. He emphasizes Ethereum’s superior blockchain technology, which makes it an attractive choice for industries seeking innovative solutions.

According to McLeod, Ethereum is a robust digital asset that offers practical solutions across different sectors, addresses existing problems, and enhances systems. He highlights his company’s use of blockchain to combat art forgery and enable artwork to function as a cryptocurrency wallet as an example of how industries are embracing this technology.

Making a case for the art world, McLeod points out that blockchain can effectively authenticate artwork by providing a permanent record at the point of creation, enhancing the verification process for registered works.

Ethereum Positioned to Surpass Bitcoin in the Long Run

While Ethereum currently plays second fiddle to Bitcoin in the cryptocurrency market, McLeod predicts a shift in the long-term dynamics. He foresees Ethereum gaining traction over Bitcoin as blockchain technologies become more widely adopted.

McLeod anticipates that Bitcoin will lose 50% of its cryptocurrency market share to Ethereum within five years. He argues that Ethereum, although trailing Bitcoin in price currently, outshines it in various other aspects and will increasingly attract investors as the cryptocurrency market expands.

Overall, McLeod’s insights suggest a positive outlook for Ethereum, driven by its technological advancements, industry adoption, and potential to outperform its competitors. As the cryptocurrency market continues to evolve, Ethereum’s journey to $500 by the end of 2018 appears to be a promising one.