Ethereum (ETH) is a cryptocurrency and smart contract platform first conceptualized in 2013 and officially launched back in 2015. Vitalik Buterin’s idea was to develop a platform that allowed developers to build and run decentralized applications.
Ethereum’s native cryptocurrency Ether (ETH) was sold to the public in an ICO in 2014 and began trading on exchanges after the platform went live on July 30, 2015. The value of Ether has since touched an all-time high of $1,432 (January 2018), and an all-time low of $0.42 (October 21, 2015). Ethereum is currently the 2nd largest cryptocurrency by market capitalisation.
7 Days Change
You can buy Ethereum from almost all major cryptocurrency exchanges and financial brokerage firms. Exchanges and brokers will allow you to buy Ether with credit card, bank account or crypto, so your options are pretty wide. When looking to buy Ethereum or any other crypto asset, always go for platforms that are regulatory compliant. This way you enhance the protection of your assets.
In May-June 2019, intensifying trade tensions between the U.S and China led to jitters in the stock market. The trade wars stepped up a notch, when U.S. President Donald Trump imposed tariffs on Chinese imports and China threatened retaliation. The U.S. then proceeded to blacklist several Chinese companies for reasons of national security, sending stock markets into panic.
Fearful that an escalation was perhaps inevitable, Chinese investors began to move their wealth out of stocks and other traditional financial instruments. But as well as gold and other safe-haven assets (like the Japanese yen), investors put their money into Bitcoin and other cryptocurrencies. It resulted in a significant crypto market rally. Bitcoin for one surged to top $10k for the first time since March 2018. Ether also surged, with Ethereum price ETH/GBP hitting £361 for the first time since August 2018.
What is the Ethereum price prediction 2020? ETH could be one of the best financial instruments in 2020, given what cryptocurrencies achieved in 2019. But if we are to compare, how does Ethereum stack against GBP, the USD and fellow crypto EOS?
The price of Ethereum in GBP at the time of writing is £123.99. This means that 1 Ether costs £124. Ethereum price against the Pound stood at -0.58% and -5.7% lower over the past 24 hours and 7 days respectively. However, when you look at the ETH/GBP historical price charts, Ether has gained over 25% against the Pound in the past month and close to 40% since the beginning of 2019.
GBP has gained 0.98% in one month, 1.78% in 3 months and 0.06% since January 2019. YTD, the Pound is -1.41% against the USD. So, if you bought ETH using GBP and held for a year, you would make 40% profits, even with the high volatility.
The U.S Dollar is one of the most traded fiat currencies around the world. Ethereum is second to Bitcoin in the crypto markets, with over $4.4 billion of ETH traded in the past 24 hours alone.
For real-time price movements, the Ethereum price live charts would be more appropriate. However, the past 24 hours (at the time of writing) have seen the Ethereum (ETH) U.S. Dollar (ETH/USD) pair trade at a low of $158.43 and high of $163.24. Ethereum has lost $3.17 against the U.S. Dollar in that period, accounting for a drop of about 2%. But long term, ETH has gained over 27% in the last 30 days and more than 35% since January 2019.
EOS and Ethereum are both dApps and smart contract platforms. EOS was launched in June 2018, well after the 2017 cryptocurrency boom that saw coins like Ether storm to new all-time highs.
Both cryptocurrencies rank among the top 10 in the market. Ethereum ranks second with a current market cap of 17 billion while EOS is currently fifth with a market cap of $3.7 billion. ETH price at the time of writing is $161 (£123.9) while EOS is trading at $3.5 (£2.73). A look at historical price charts shows that EOS has performed slightly better over the past year. Ethereum price today is just under 38% over its value a year ago, while EOS price is 44% higher than it was at that time.
Both ETH and EOS have yet to reach optimum functionality, with several updates and upgrades still needed to have them ready for global adoption. But as yet, both platforms already see massive numbers of dApps.
What Ethereum future price predictions tell us is that the market expects an ETH bull run medium-term. Long-term, Ethereum’s forecast price for the year is around £300, same as its most recent run.
Looking at Ethereum (ETH) price at the time of writing this article, it costs £123 to buy 1 Ether, it means that ETH/GBP would need to gain well over 200% to hit these predicted levels. Is this possible for ETH? Ethereum price history shows Ethereum has the potential. However, that might come in the second half of 2020.
Notably, Ethereum price technical charts show that Ethereum is currently set for a downtrend before its next bull run. For investors, this might be perceived as a great buying opportunity.
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