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Here’s Why $10,000 Is A Very Real Achievable Target For Ethereum (ETH)

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This week, Ethereum (ETH) has announced a fresh partnership with the Canadian government. This is the sort of development that can really get a coin running but, so far, we are yet to see any real action in the markets.

Indeed, right now (mid-afternoon US on Monday), ETH trades for a close to 6% discount on its price this time yesterday, with a single coin going for around $984. This is the coin that – to a large degree – weathered the overarching market correction that we saw push bitcoin down to below $10,000 and drove a 50% or more correction in a host of other cryptocurrencies, large and small.

We think that the latest news is a major event and that the market’s lack of an immediate response is indicative of some remnant of weak sentiment putting pressure on price. In turn, we think that the current depressed prices might be a great opportunity to jump in ahead of a recovery.

Here’s what we’re thinking.

First, it’s worth noting that while we mentioned above that Ethereum weathered the overarching market correction, it wasn’t entirely insulated. In fact, ETH fell from highs of $1,377 on January 14 to current levels (which, as mentioned price ETH at around $984 a coin), a dip of around 28%. When looked at against a backdrop of the wider market correction, however, the dip is relatively small.

ETH Daily Chart

ETH Daily ChartETH Daily Chart

Anyway, getting back to the main thrust of our thesis – the fact that the Canadian government wants to try and use the Ethereum platform to improve its legacy infrastructure is incredibly important for two reasons – first, that it shows that major nations are seeking to adopt blockchain technology and have accepted that this is the technology that’s going to play a key role in bringing processes up to date in the future. That’s a big deal for the space as a whole. Second, that Ethereum is the technology it’s chosen to try and do just that. This one, of course, is important for Ethereum specifically, as opposed to the wider industry.

Looking at the development specifically, it involves the National Research Council of Canada (NRC), which is a government initiative, and – as per this press release – the program is in place to investigate the potential for blockchain technology and how it may be used for more open and transparent function of public programs.

The program is live at time of writing on the Ethereum blockchain, proactively publishing information on new and amended contribution agreements in real time.

The outcome of this program could be a real game-changer for Ethereum. If the blockchain is adopted as the foundation for more transparent process in Canada, it will validate the technology as part of a real-world use case and, in turn, will almost certainly result in other governments across the globe following suit.

The thing to realize here is that it’s this sort of development that really sets Ethereum apart from many of its competitors. The company and its platform/technology has (while we admit there have been hiccups along the way) established itself as the go-to technology for smart contract based decentralized systems and it’s going to take a lot, and a long time, to unseat Ethereum from this position; as viewed, that is, from an outsider’s perspective – an outsider like a government entity.

So where do things go from here?

It’s tough to put a target on price, given the current sentiment but $1,400 is an immediate and obvious inflection point, with $10,000 a long-term, but very real, end-of-2018 possibility.

We will be updating our subscribers as soon as we know more. For the latest on ETH, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of Ethereum.org

Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Altcoins

3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance

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For more than a year, the cryptocurrency market has been dominated by bearish influence, with most coins seeing constant drops, or stagnation, at best. This all changed in the past few months, starting with Bitcoin which once again started leading the market up, bringing one minor rally after another.

BTC itself experienced massive losses in 2018, with its price going down by around 84%. Most other coins among the top 10 mirrored its performance, and some of them experienced even greater losses. However, now that Bitcoin sees gains again, these cryptocurrencies are still following its example, and many of them have seen massive breakouts. Some of the more notable altcoins that followed Bitcoin’s recent example are Ethereum (ETH), Stellar (XLM), and Cardano (ADA).

Ethereum performance mirroring Bitcoin’s price

As mentioned, Bitcoin led every rally so far, but before it did, its price first went through what is known as an ascending triangle pattern. The pattern held for around five months, which is exceptionally long for the crypto world. However, once the pattern was finally broken — the coin’s price skyrocketed, more than doubling itself within only two months.

One thing to note is that Ethereum performed in pretty much the same fashion. After five months of struggle and confusion for investors, the second largest cryptocurrency also managed to break the pattern and skyrocket as well. It…

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