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Should you invest in ethereum in 2018?

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invest in ethereum in 2018

If you wish to know the details of Ethereum without delving into highly technical depths of it, this is your best option. It is vital to understand the basic underlying principles of the working of Ethereum and how it is different from other cryptocurrencies. Just like Bitcoin, Ethereum uses the technology of blockchain and is an open source platform enabling distributed computing to feature smart contracts. These smart contracts run exactly as programmed and do not fall prey to any network downtime, fraud, system failure or third party interventions.

Blockchain has been reconfigured to allow developers to build smart markets, store logs of liabilities and move capital in accordance with long given instructions. This powerful shared global infrastructure helps in exchanging value and displaying ownership. Developed voluntarily for Ethereum Foundation, a Swiss non profit organisation, this platform is supported by several operating systems including Linux, Windows, MacOS, POSIX, Raspbian. Applications such as electronic voting, trading, digital record of property assets are being developed and deployed at faster rates and brilliant customer satisfaction.

In even more simpler words, Ethereum is an open source and public platform developed upon the concepts of blockchain to help users create smart decentralized applications.

 

How does Ethereum differ from Bitcoin?

Both Bitcoin and Ethereum are decentralized, distributed open source, public blockchain networks however, there are major differences in its potential and purpose. Bitcoin is a peer-to-peer electronic cash system that enable transactions and purchases via Bitcoin payments. The Distributed Bitcoin network keeps a track of the ownership of each and every Bitcoin in the community. On the other hand, the focal point behind the concept of Ethereum is to run the programming code of a  decentralized application. Just like E-mail was one of the most particular and spectacular use of the Internet, it wasn’t the only use and many more applications were developed based upon its concept. Similarly, Bitcoin was the foremost application of the Blockchain technology but isn’t the only one application.

 

In the Bitcoin community, Bitcoins are mined. However, a different form of cryptocurrency is used in Ethereum called Ether. Users do not mine Ether but earn them and make transactions and purchases on the Ethereum network using this Ether. Settlements on Bitcoin take an average of 10 minutes to pull through, however, Ethereum aims at an even faster processing time of just 12 seconds. Unlike Bitcoin mining which has a notoriously energy consuming process and is recommended only on industrially large scales, Ethereum works on a ‘proof of work’ algorithm which enables and encourages even individuals towards decentralized mining.

Another feature to take note of is that the internal code of Ethereum is Turing complete. In simple terms this means that as long as one has enough computer power and time anything on the network can be computed. This gives developers innumerable possibilities to work with.

 

Currency and Fuel of Ethereum, should you invest in ethereum?

Ethereum in itself is not a digital currency but an open source decentralised platform which no single point of control. All operations are not run by a central governing authority but a group of volunteers all around the world. The computational asset used to pay for services on this network is Ether. Not only are transactions settled using Ether, but it is also used to make any changes in any applications on the Ethereum network. This is a sort of transaction fees one needs to pay for successful processing of changes and thus Ether acts as a ‘fuel’ in the Ethereum network too.

 

Why should you invest in Ethereum in 2018?

Owing to the decentralised nature of the Ethereum network, it is immutable. Censorship is impossible and it is corruption and tamper proof. With no point of central control and secure cryptographic methods used, it is immune to fraud and hacking activities. The distributed network is run by a group of dedicated volunteers worldwide owing to which there is no scope of network downtime or network failure.

Any and all centralized service or application can be turned into a decentralized application. The only limitation one encounters while working with Ethereum is their own personal creativity. Anything from bank loans to voting systems and regulatory compliance and much more can be executed on Ethereum. One can also build a DAO – Decentralized Autonomous Organisation. Run on an ensemble of smart contracts written on Ethereum’s blockchain, DAOs are run on a code which replaces a traditional structure. This eliminates the need of a single regulatory body.

 

What does one mean by a smart contract?

A smart contract is simply a code which enables exchanges with respect to money, property or anything that holds some value on the Ethereum network. Once run, it acts like a self operating program when required conditions are favorable. Ethereum gives its users the flexibility of doing whatever sort of operations they wish to.

 

How to access Ethereum?

If one has educated themselves with the basic working and principles of Ethereum (which is the most important step before starting any venture), one would now obviously want to know where they could actually do all this work.

One of the simplest ways to get started is using the ‘Mist’ browser. Not only does it provide a user friendly interface to build smart contracts but also provides you a digital wallet. A digital wallet or Ethereum wallet is where one holds and secures their Ether and/or other digital assets that have been developed using Ethereum which are basically your smart contracts. Needless to say, it is important to keep the private key of your digital account wallet in a safe and secure location to avoid any unfortunate incidents.

Another option available is the MetaMask browser extension available on Google Chrome. One could easily get it from the Chrome Web Store here.

 

How to get Ether?

The next obvious step for a user would be to learn about how to get Ether. One of the most easiest and convenient sources to buy Ether is from a cryptocurrency exchange. There are several options one could explore such as Bitstamp, Coinsquare, Coinbase, Kraken, Cex.io, Shapeshift, Poloniex, Coinmama. It is important to choose the exchange which falls under your area of jurisdiction i.e. one which is not illegal in your country since you wouldn’t be wanting to face any criminal charges. Simply set up an account on either of these exchanges and use you money – hard cash via wire transfers or money in your bank accounts, to buy your Ether tokens. Always make sure that you store your assets in a secure digital wallet which is mostly always provided by these exchanges too.

One could also get their Ether tokens via peer-to-peer trading or by mining. However, the supply of Ether is virtually unlimited unlike Bitcoins (where only 21 million Bitcoins are available), users usually get their Ether tokens via a secure exchange. Once you have as many tokens as you wish or require, you can start building your own decentralised applications on the Ethereum platform.

 

What next?

Ethereum has slowly gained mainstream attention and more and more people are now actively considering building smart contracts using this decentralised platform. Ethereum is an invention which is here to stay and would soon change the way the Internet works. Ethereum is set to revolutionise the way industries work and the way services and products are provided to their users.

If one is still unsure about working with the Ethereum platform, there are several online courses one could make use of. Blockgeeks is one such option one could look into for assisted guidance. There have recently been several books in both paperback and Kindle editions, which could guide you and clear your doubts regarding Ethereum. Introduction to Ethereum and Solidity by Chris Dannen, Ethereum: A look into the world of Ethereum and how to trade and invest this cryptocurrency! by Ben Abner, Investing in Ethereum: The Ultimate Guide to Learning and Profiting from Cryptocurrencies  by Oscar Flynt a few books one could look into.

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#Ethereum Price Analysis

Ethereum Price Analysis: Is ETH about to crash?

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Ethereum price fell down sharply. ETH is currently trying to correct upwards but will most probably face a lot of selling pressure around $134 and $135.

Technical Indicators:

Support Level: $130

Resistance Levels: $134, $135

 

Key Points:

  • Ethereum price was not able to break through the resistance around $136 and $137.
  • ETH fell down sharply breaking the $134 and $132 supports.
  • The bearish pattern which was formed yesterday with resistance around $135 still remains on the hourly chart.
  • Ethereum price is currently trading to correct upwards, however, there are a lot of sellers placed around $134 which might push the price downwards.

 

Ethereum Price Analysis:

Summary: Ethereum price fell down sharply against both bitcoin as well as USD. ETH is currently trying to correct upwards but will most probably face a lot of selling pressure around $134 and $135 resistance levels.

As we already knew, breaking the resistance around $137 and the 100 hourly SMA was really essential for Ethereum price in order to move upwards and stop a sudden crash. However, even after continuous attempts, ETH was not able to break through this resistance zone and hence declined sharply below the $135 support level. The downward force was strong enough to even break through $134 and $132 support levels and move the price to a weekly low of $130.

The support around $130 proved beneficial as a lot of buyers emerged at this point and moved the price above $132. There are a lot of sellers placed between $134 and $135. The previous support of $134 has now turned into strong resistance. Also, the bearish pattern which was being formed with resistance around $135 is still present on the hourly chart.

The 100 hourly SMA liest around $135, thus, Ethereum price really needs to climb up and break through the bearish pattern formation and settle above the 100 hourly SMA in order to start fresh bullish momentum. The major support lies at $130 and if ETH falls below this level, it might soon test the $125 and $122 support levels.

ETHUSD Price Chart 26 March

ETH/USD Price Chart 26 March

The chart shows that Ethereum price is currently trying to correct upwards, however, a lot of sellers are placed around $134 and $135. Thus, the current situation might not be termed as a buying range. If the selling pressure keeps on increasing, ETH might soon crash down towards $125.

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#Ethereum

Analysis: Will Ethereum Rise in 2019?

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There is a great possibility that the price of Ethereum might never rise again, At least not to the figures it earlier achieved.

Bitcoin and Ethereum have been leading the cryptocurrency market for quite some time. While bitcoin blockchain’s main motive is to track the transactions, Ethereum’s main motive is to run the codes of DEX or decentralized apps.

While most people feel that bitcoin will always lead the cryptocurrency market, some believe the cryptocurrencies such as Ethereum might overtake bitcoin in the future. Currently, a group of companies known as Enterprise Ethereum Alliance supports the Ethereum blockchain who are working hard to improve the overall functionality of the blockchain.

 

Can Ethereum rise in 2019?

While Bitcoin is a store of value and most people use bitcoin as a form of investment, Ethereum is mostly used by software companies for development of their own dapps.

Ethereum saw a tremendous rise in price as well as in market capitalization during the ICO era which might have ended last year. In 2017, there was a boom in the overall ICO market and most Initial Coin Offerings collected their investments in the form of Ethereum. This had led to a massive demand for ETH as investors had to purchase ETH first in order to invest in other initial coin offerings.

Ethereum Price Chart

Ethereum Price Chart

The price of Ethereum reached more than $1400 at the start of 2018 and people started to feel that Ethereum might even overtake bitcoin soon. However, as months passed in the year 2018, both the price and the market capitalization of ETH experienced a massive mall which might be related to the end of ICO era. Cryptocurrency analysts also believe that the massive selling of Ethereum by Initial Coin Offerings who had been storing them as investments was the main reason for the fall in the price of ETH. Thousands of ICOs started selling their ETH holdings when they saw a bear market coming upfront.

 

Why ETH might never rise again:

There is a great possibility that the price of Ethereum might never rise again, At least not to the figures it earlier achieved. One of the reasons for this is the rising popularity of other blockchain platforms such as TRON who are direct competitors to ETH and some are even performing a lot better than Ethereum. The overall development of ETH blockchain seems to be quite slow and thus people have started to adopt other blockchains which are more suitable for their products and perform better than the Ethereum blockchain.

 

Another big reason why Ethereum might not rise again is the end of the ICO era. The number of initial coin offerings has seen a tremendous decrease last year and even lower this year. Also, the interest of investors has shifted from Initial Coin Offerings now as they do not see a safe and profitable future in investing in ICOs. As one of the major reasons for the rise of ETH was the ICO market and now with the end of the ICO era, Ethereum might never see those robust bulls again.

 

The following article is not financial advice. Readers are requested to do their own research and analysis before making any investment decisions in the cryptocurrency market which is highly volatile.

 

What do you feel about the future of Ethereum? Tell us in the comments section below.

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#Ethereum Price Analysis

ETH Price Analysis: Is Ethereum going to fall hard?

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ETH price is trying to recover, however, the resistance around $138 is quite strong and might lead to the price falling downwards.

Technical Indicators:

Support Level: $135

Resistance Levels: $138, $140

 

Key Points:

  • ETH price was able to recover back upwards after testing the $132 support.
  • ETH price even broke through the $134 and $136 resistance levels.
  • However, there is a bearish pattern formed with resistance around $138 on the hourly chart which might lead to a dropdown.

 

ETH Price Analysis:

Summary: ETH price is trying to recover, however, the resistance around $138 is quite strong and might lead to the price falling downwards. The next resistance lies at $140 after which Ethereum price will turn bullish.

Ethereum price crashed after testing the $140 resistance level recently. ETH tested the $132 support level before starting to recover upwards. The upward momentum was able to break the $134 and $136 resistance levels. However, there is a solid resistance formed between $138 and $140 which might push the price back downwards.

Ethereum price is currently trading around $137 and the 100 hourly SMA. There is a bearish pattern formed with resistance around $138 on the hourly chart. If Ethereum is able to break through the $138 resistance level, the next strong resistance lies at $140 after which the overall momentum will turn bullish. The current support lies at $135 after which the price might test $132 support again.

ETHUSD Price Chart

ETH/USD Price Chart

The chart shows that ETH price is trying to recover upwards towards $140 resistance level, however, breaking through this range will be very difficult as a lot of sellers are placed within this range which might lead to the price falling down towards $135 support.

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