This is a great article on Ethereum’s price forecast for 2017 which was published moments ago on financial blog InvestingHaven.com.
It is great to see how traditional finance blogs are picking up crypto investing. This is one of the few blogs that features an Ethereum price for 2017 based on factual data: usage, transactions, and the price chart.
InvestingHaven rightfully says that the price of Ethereum is not moving ‘accidentally’ higher.
There are several coins in cryptocurrencies universe, not all though, that are moving strongly higher. That is really a result of supply/demand dynamics. And here is the biggest news: this trend only got started. Are we saying that a bubble could develop over time? Yes that’s what we are saying, but not anytime soon yet.
The total market cap of all cryptocurrencies combined has surpassed $60B, and InvestingHaven has put that figure into perspective: Tesla’s market cap is $50B, Boeing Airlines $100B, Coca Cola $180B (rounded figures for April / May 2017).
We agree that cryptocurrencies are nowhere near mainstream. Try to talk about cryptocurrencies with your neighbors, family or colleagues. Good luck if they don’t call you an ‘alien’.
The price of Ethereum in 2017 has exploded. And InvestingHaven’s article features two great charts: growth in transactions (2nd chart) and addresses (1st chart). It is hard to forecast how these data points will develop, but the high level trend is what is of primary interest.
And this is the quote we believe is the most relevant one:
Given the enormous untapped potential of Ethereum, and the strong adoption among respected top banks across the globe, we believe this trend acceleration only got started. Because of that, we forecast that Ethereum’s usage will go up fivefold this year.
Given those data points, our best case price forecast for Ethereum in 2017 is $550, which is a fivefold increase against the price of this week.