2018 tipped to be a good year for Ethereum
While Bitcoin remains at the top of the food chain in cryptocurrency world, some experts believe Ethereum may outshine it in 2018.
With all currencies in the cryptosphere showing stable signs of recovery in the last week, many pundits are now predicting 2018 will THE year for cryptocurrencies.
Experts agree that this year will see a rise in value for all cryptocurrency, but some are predicting that Ethereum will stand head and shoulders above the rest.
According to Greg Adams, founder of crypto news site blokt.com, the future looks bright for virtual currency, saying:
“For the time being, I don’t believe that bitcoin is dead. I do believe, however, that we’ll begin to see a more significant shift in market dominance from bitcoin to other cryptocurrencies throughout 2018.
“As people become more educated on the specifics of each currency, they’ll move their money to projects with the better tech. I can see projects like Ethereum, EOS, and ICON picking up steam this year, at the expense of Bitcoin.
“Bitcoin has become a bit of a dinosaur in recent years, and its fate could be similar to that of the Sony Walkman.”
Mr. Adams predicts that Ethereum will be trading between $2,000 and $3,000 by mid-2018 and between $5,000 and $7,000 before the end of this year.
Could Ethereum take the top spot from Bitcoin?
According to Mr. Adams, Ethereum will take the top spot of cryptocurrencies by the end of 2018, and he said he’ll be “shocked” if it doesn’t.
Mr. Adams believes the key to Ethereum becoming more attractive will be through “sharding.”
A shard is a horizontal partition of data in a search engine or database.
A shard or database shard refers to each partition.
Each shard is held on a separate database server instance, to spread the load.
According to CoinMarketCap, Bitcoin has a current value of $8,595 and Ethereum at $843.
For this prediction to come true, Bitcoin would need to fall in value while Ethereum rises.
It is also worth remembering that Ripple overtook Ethereum as second most valuable cryptocurrency at the beginning of this year.
Also, rumors about Ripple being added to Coinbase are still lingering which could send its price to the moon.
However, CEO of Smartvalor, Olga Feldmeier, a stern defender of bitcoin, believes the dominant cryptocurrency will rise to $100,000 this year.
She described bitcoin as currently experiencing a blimp but says it will bounce back stronger than ever.
Ms. Feldmeier said in a statement:
“In short: BTC is going to stay a highly volatile and speculative asset for the next several years.
“Overall trend will be price increase with huge swings and volatility breakouts in between.”