In today’s Ethereum news, Tom Lee argues that the second largest cryptocurrency Ethereum is about to see a strong upwards rally up to $1,900 per token by the end of next year.
Lee stated that the current negative sentiment on the entire crypto market is a base for the strong rebound in the near future. He based his prediction on the historical performance of Ethereum where he shows all of the times when the altcoin ‘’underperformed’’ and the price saw a reverse motion.
He believes that Ethereum will reach up to $1,900 by the end of 2019 and that this is a price point that is 40% higher than Ethereum’s all-time high recorded in January this year when Ethereum’s price was $1,349. Right now, the price of Ethereum is $225 so the prediction is basically a surge by 730 percent by the end of the year.
In the middle of the summer, Lee claimed that the Bitcoin might come to trading between $22,000 and $25,000 but right after that he concluded that Bitcoin could finish this year much higher than he expected.
Ethereum was launched in 2015 as the second largest cryptocurrency by market cap and it provides an open-source blockchain that offers smart contracts but it’s also a base for new blockchain-powered applications for many industries. This year, Ethereum saw a massive decline where Ripple has surpassed it twice in terms of market cap just this month.
January 16th: The New Goal For Ethereum’s Constantinople Blockchain Upgrade Launch
"We can just say mid-January, it doesn't make difference if we decide on a date or not. We can always postpone."Other developers pointed to Ethereum's so-called "difficulty bomb" which is an algorithm that is embedded within Ethereum's code that makes blocks steadily harder to mine - and one that was put in place to act as an incentive for encouraging regular updates in the network. Constantinople has delayed this difficulty bomb for a further 18 months while decreasing the Ethereum mining reward from 3 ETH to 2 ETH per block. However, Szilagyi noted that the software upgrades which will implement the hard fork should be released before the end of the year
"All clients should release a stable version with the baked in block number before Christmas," he concluded.
ConsenSys Creator: Blockchain Is Much More Complicated Than The Internet And Will Take A Little Longer To Develop
''Blockchain projects will enable people to build more things that will come in handy again. That's how the web was developed. It will probably take a little longer because it is much more complicated. Also, because we work on topics such as digital money, Blockchain will permeate society more than the Internet. Everything will be networked in a Web3.”ConsenSys was created right before Ethereum was released with one goal only-to build tools and the right infrastructure so a decentralized system can be created in which Ethereum will function and also not focus on controlling the ecosystem bur promoting it. While explaining how the current internet functions and how the blockchain does as well, he said that the internet today and the nature of the blockchain technology is completely contradictory which enables a ‘’self-determined, sovereign identity.’’
School Principals In China Caught Red-Handed For Stealing Power To Mine Ethereum
EtherDelta Exchange Founder Charged With Operating An Unregistered Exchange
“We are witnessing a time of significant innovation in the securities markets with the use and application of distributed ledger technology. “But to protect investors, this innovation necessitates the SEC’s thoughtful oversight of digital markets and enforcement of existing laws,’’ an SEC official explained.EtherDelta’s founder, Zachary Coburn, calmly consented to the charges and agreed to pay a fine of $300,000 in disgorgement plus the additional $13,000 in prejudgment interest and last, $75,000 for a penalty fine. However, the exchange founder hasn’t really denied nor admitted the allegations, just agreed to pay the fines.
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