The current market conditions are best to buy Ether (ETH)
One of the many ways of growing one personal income is the process of investment. It allows the user to grow his money by investing in financial vehicles which promise returns by a huge factor. It is very obvious that investment is not free from risks, but choosing your investment wisely can reduce the chances of failure and increase the probability of success. Also, sometimes it is better to invest in, rather than to keep your money idle. Investing in a cryptocurrency coin is all the more complex, as a number of factors come into the picture, deciding the prices as well as the movement of the prices. Investments would generally give better returns when compared to the money deposited in a savings bank account, which could indirectly be used, in order to achieve major financial goals.
Ethereum has been one of the most popular cryptocurrency Blockchain projects in the past few months. The cryptocurrency Blockchain project was initiated in the year 2014, by the founder, Vitalik Buterin. With its inception, the world got familiarized with many new terms, such as Smart contracts, Decentralized applications, Decentralized Autonomous organizations, gas prices, etc. One of the most important characteristic attributes of the Ethereum Blockchain is its usage of smart contract, any user can use the smart contract in order to enforce any kind of legal agreement. One can also assume it to be like an operating system, as it basically provides an environment for the creation as well as the functioning of the decentralized applications.
What factors affect temptation to buy Ethereum?
Now let us try to decode the factors affecting the prices of the Ethereum. one of the fundamental dominant factors influencing the price of Ether, the native token of Ethereum, is the fundamental market forces of Demand and Supply. It has been witnessed that when the supply of Ether is very low in the market, its value increases and people will pay more than the actual value of the currency. On the other hand, if the supply of the cryptocurrency coin is too much then the prices are bound to decrease.
Role of media in affecting the decision to buy Ethereum
The opinions of various news media outlets also plays a major role in influencing the prices. If a professional financial advisor conveys his opinion regarding the prediction, through any medium then the people tend to subconsciously follow his predictions. Therefore the market behavior of any cryptocurrency coin can easily be influenced through various media outlets. For an instance, imagine if a professional predicts that the Ethereum price is going to rise, then all the Ethereum holders will hold onto the investments, in fact, number of buyers will come forward not to buy them, as a result of which the sellers would increase the price of the coins, which would indirectly result in the increase in prices and the same process happens the other way around also. Also, the opinion of various prominent figures of the cryptocurrency domain matters a lot.
Further factors provoking the investors to buy Ethereum
Now that we have understood the process as well as the factors affecting the prices of Ethereum, let us see if it is good to buy ethereum in 2018. The roadmap, as well as the team members of the Ethereum blockchain project, is very futuristic in nature. As more number of developers around the world are incorporating it, for the development of decentralized applications, the Ethereum network is constantly being utilized and indirectly increasing its market value. It provides for a seamless usage of the templates, in order to create their own cryptocurrency coin to all the developers around the world, by utilizing Ethereum ERC20 protocol. According to some estimates, the ERC20 based tokens have become so popular that there are almost more than hundreds of such tokens available in the market and the numbers are continuously rising too.
Is it the right time to buy Ethereum ETH?
Currently, the market price of Ethereum is $190.24 and is lowest when compared on an average basis. This is one of the best time to invest in and to buy Ethereum coins as the price is relatively low when compared to its future prediction as well as cryptocurrency adoption. Therefore, the investors are highly recommended to buy Ethereum tokens as the prices are also very low which would indirectly result in huge amount of returns on investment. Earlier, in January the coin was trading around $1000, but now it has fallen to almost $200, even if the market recovers, it would be a great opportunity for the investors to avail immense returns with little efforts.