Although Bitcoin has grabbed a lot of the headlines lately, some people believe that Ethereum has an even brighter future. Yet, in recent times, the price of this digital currency has fallen dramatically.
Could now be the perfect moment to buy Ethereum? A lot of people have been discussing this subject lately, including the co-founders.
What Do the Men Behind Ethereum Say?
Vitalik Buterin is a co-founder of Ethereum. He believes that the days of insane growth are probably over for the crypto industry, saying that there is “a ceiling in sight”. However, he doesn’t think that this is necessarily a bad thing.
This is largely down to the fact that far more people are now aware of these currencies. Therefore, there are fewer new investors waiting to come in and push up the price by buying coins.
Buterin sees the next step as being that of convincing the people that are already interested in cryptocurrencies to start investing in them. Fellow co-founder Joseph Lubin talked of “pretty tremendous growth” being expected in different parts of their ecosystem.
Both appear to be confident about the future, despite the recent price falls. It is clear that they still firmly believe in this as a long-term project.
A Look at the Price History
From a high of over $1,400 at the start of 2018, Ethereum has dropped to around $200 at the time of writing. This is still a huge increase over where the price was until the end of 2016, around the time it split from Ethereum Classic.
The idea that this currency has a much higher value in the long-term means that now could be the time to buy Ethereum cheaply. This idea rests on the theory that the price is now close to its lowest point and will soon begin to rise.
Is this true, though? Our guide to Ethereum shows you the basic facts about this currency. To find out the price prospects, we need to delve a bit deeper, though.
What Are the Long-Term Prospects?
It is notoriously difficult to assess the true value of any digital currency. Yet, there is a widespread opinion that now is a good time to buy Ethereum while it is at a low price.
Plenty of analysts are convinced that Ethereum has the best long-term prospects of any digital currency. This is down to a number of reasons, such as the large community, the highly regarded development team and the potential uses for it.
Some big changes are also planned on this network in the near future. For instance, the Casper protocol aims to make it more efficient by moving on to a proof-of-stake basis. It has been suggested by analysts that Ethereum has the power to become a true world computer, or even the basis for the internet of the future.