SL 319
JUST TRACKING ETH
Huge bullish Trend ...
JUST TRACKING ETH
Huge bullish Trend ...
Trade closed: stop reached:
SL HIT
Though Ethereum's price consolidated during the past month, even as Bitcoin has been hitting new record highs including breaking through the $5,000 benchmark, since mid-September Ethereum has been steadily pushing higher.
Jeremy Harkness, a blockchain officer based in New York explained that Ethereum and all “ERC20 tokens” will by far exceed the market capitalization of Bitcoin in the coming months. ERC20 is a common list of rules for all Ethereum tokens to follow - the token empowers developers of all types to accurately predict how new tokens will function within the larger Ethereum system.
The spot price of ETH is likely to slowly creep closer to that of Bitcoin in 2018, approaching $1,200 in the second quarter of 2018. But predicts Harkness, once the dust clears and the hard-forks are over, the price of ETH will rally in late November and may test the $500 range. It may even test $600 - $800 by year-end, he believes.
Another feature of the ETH hard fork is the introduction of “Zero Knowledge Proofs,” a protocol that enhances privacy for owners, allowing them to verify ownership without revealing any restricted information. Specific to Ethereum, this is expected to provide users privacy by allowing for the masking of a sender, the receiver and the amount sent in Ethereum transactions.
Additional improvements will also allow for cheaper, more reliable contract execution, which will further support Ethereum adoption, resulting in an extremely vibrant ICO marketplace in 2018.