2018 will certainly be an important year for the entire cryptocurrency market, and especially Ethereum. This year opened up with the market getting out of bed on the wrong foot. The entire market experienced a very significant dump, shaking out many weak hands and driving overall market sentiment down.
However, despite the crypto capitalization being relatively shaky at this point in time. Many still believe that Ethereum will come out on top of everything else in 2018 and reign supreme.
But, let’s analyze some factors that can have an effect on its price.
Factors that will influence Ethereums growth or plunge.
Right now, many people are waiting for the Casper protocol to roll out on the Ethereum Blockchain. If this happens, the need for full-blown mining, as we currently have it, should fall away after a little while. Additionally, Casper will require users to lock up their Ethereum. Thus, decreasing the overall supply, while demand rises.
Logically, one can assume that investment volumes in ICO’s shoot up drastically when the entire cryptocurrency market is in a bearish state. Well, it so happens that Ethereum is the go-to cryptocurrency for investing in ICO’s. However, at the moment, regulators are eyeing global ICO practices, which makes buyers behave in a more skeptical manner.
Competition to stay sharp.
Additionally, besides the Ethereum Blockchain, there are others that can be utilized to create Decentralized Applications and to carry out transactions. Such as NEO, Stellar, NEM, NULS, NEBLIO. Now, thankfully for Ethereum, it is quite a few miles ahead of the of competition in terms of popularity and developmental power. And as put in the heading, competition keeps one sharp.
Additionally, there is quite a bit of marketwide displeasure over the fact that every altcoin is depandant on bitcoins price fluctuations. So, just based on that, and with more money potentially pouring into the market, it is without a doubt that we will see more equilibrium, which could potentially allow Ethereum to jump to #1.
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