What Is Ethereum?
In one sentence, Ethereum is a global, open-source platform for decentralized applications. It is fully independent, and is not under anybody’s authority. This cryptocurrency is designed for decentralized applications, and deployment of smart contracts. These are created and operated without any fraud, interruption, control or interference from a third party.
The Ethereum Crypto Market
Like with many other cryptocurrency, speculating with Ethereum can be highly profitable, and has had a good history of giving its investors huge returns in some months or years. Many Ethereum holders have a good reason to be happy. Current ethereum price is higher; compared to the price point at the time the coins last moved. And, ethereum is predicted to keep growing over the next 5 years. According to charts:
Going beyond the $410 to $420 level represents a dramatic shift for Ethereum, which stood at around the $112 price level in March. Based on market structure also, the $410 to $420 range has acted as a historical resistance area since 2017. The co-founder of cryptocurrency venture capital firm Spartan Black, Kelvin Koh, said ethereum is leading the crypto market’s uptrend.
Possible Future Compared To Bitcoin
If governments put restrictions on cryptocurrencies, businesses will still be able to use the Ethereum platform for things such as payment services, which banks and many other entities are doing already. Ethereum does what Bitcoin cannot do, and came to existence because of the limitations and single function of Bitcoin. However, the biggest threat to Bitcoin remains Bitcoin itself. There is room for both at present, and for now, ethereum won’t overtake Bitcoin.