Buy Ethereum Now, Before Its Tech Takes Off
ETH price has stabilized around $300 as BTC has shown volatility.
ETH has responded well from growing pains; and continues to find support in users, technologists, and companies.
Upgrades will send ETH price up - especially "Casper" which will incentivize owners to stock and stake ETH, leading to a rise from scarcity as its tech finds adoption.
Bitcoin has dominated the news lately in the crypto world. A prospective hard fork - that was then cancelled - sent prices skyrocketing (up to an all-time high of $7800 and back down near $6000). A recent announcement of a futures market through CME might also mean that even more money will be waged on the future of cryptocurrencies.
A lot of that money will be around Bitcoin, the king and leader in the space. I don’t think this will change soon - though Bitcoin has some serious scaling issues to reckon with. Importantly though, Bitcoin is still the main transfer coin to get into “alt” coins - smaller cryptocurrencies (or crypto assets) that might have a promising future return for investors. Popular altcoins include Ripple, Dash, and Litecoin.
The two others that feature in the crypto top 6 market caps are Bitcoin Cash (a hard fork from Bitcoin from August - keep your eye on this one) and Ethereum, the #2 crypto that features technology more like a platform than a singular currency like Bitcoin.
Ethereum has been the #2 for many months, and had a price that rocketed from $10 at the start of this year to $40 in April to almost $400 (its all-time high) in August. It currently sits around $300 and a market cap of $28 billion.
For our view in the next six months, Ethereum has the most promising and stable tech of the big players, making it the ideal large-scale, or first, investment in the crypto space. And, yes, we’re saying this despite a recent issue with a provider called Parity, where the second largest Ethereum wallet had to lock coins down due to a security flaw. This is a danger for any emerging tech, though the Parity response and security upgrades continue to make any hacks more difficult. The price also rebounded from this news, showing investor confidence in ETH (Ethereum’s token for trade).