Ethereum to $1900? Bitcoin Bull thinks so

Tom Lee, sometimes known as the “Bitcoin Bull” has turned from Bitcoin to Ethereum for now, predicting a price of $1900 by end of 2019. I won’t say this price is impossible or improbable as Ethereum has reached more than $1300 by the end of the last Bull run but we will look at the pros and cons of Ethereum.
First, if Bitcoin soars past $25,000, it is possible that Ethereum could ride the wave up to $1900 putting its market cap at around $200,000,000,000 , which is well within reason and not the $60 trillion (if you count the number in escrow) that some XRP holders believe that their coin will achieve by the end of the year(2018). However, there are several obstacles in Ethereum’s way, including tough competition that didn’t exist last year. However, there are things that may pump Ethereum up way before Bitcoin hits $25,000 as well.

First, TRON and EOS are major competitors for Etheruem and boast a much more advanced network capable of far more transactions per second than Ethereum. TRON’s CEO Justin Sun has called for developers to ditch Ethereum and jump onto the TRON Bandwagon and TRON has recently soared past 400,000 user accounts. This increased competition may take many users off of Ethereum and onto TRON or EOS. This is probably one of the main reasons that Ethereum has been underperforming most other big cryptos, even in the bear market.

However, Ethereum is the oldest of the Mainnet coins, and therefore has its supporters. Most recently, Banking giant J.P. Morgan has announced that it has built its interbank payments system on an Ethereum-based blockchain and once it comes online, it will process over 14,000 USD transactions per day with its partner banks. Partnerships and adoptions like this are huge for any network and once Ethereum gets sharding and Casper updates(end of 2019 reported), it may be technologically on par with its competitors and have big players like J.P. Morgan in its mix. The big adoption of a company like J.P. Morgan may in itself be enough to push the price up to $1900 during a bull run.

With the factors going for and against Ethereum, the next run will be interesting. Ethereum has tough competition to brush aside but it being a first-mover and established network in the market may be enough to push its price to new heights.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s