Speculations regarding the prices of the crypto assets float around pretty often. Market analysts are constantly predicting the next bull run or the bear run. But do we know for sure what will happen next? The answer, no. Let’s just take one example, ethereum.
Ethereum is one of the top-notch cryptocurrencies in the world. At the time of writing, it is currently placed at around $104 as per www.coinmarketcap.com. But it has not been here since forever. At the beginning of the year, the asset was enjoying its highs above the $1,000 mark. But as the months passed by, it saw major drops in its price with a few spikes in between. It is showing a bear run for quite some time now. So what do we expect? Will ETH rise back or will it go further down? In order to get a perspective on this, BlockPublisher recently got in touch with a well-renowned name in the blockchain world Thomas Power. Thomas is a board member at BICRA, a term short for Blockchain Industry Compliance and Regulation Association.
Responding to the question posed by BlockPublisher regarding where ethereum (ETH) might head, he stated:
South. Not until BTC bottoms at $2160 can ETH bottom. Another 33% fall is necessary.
This news does not come off as good for the crypto world. Various startups have their fundings raised in ETH and if the price of the asset falls down even further, things might turn ugly.
So when can we expect the next top? Or will there be any? These are the things that one cannot predict at the moment. Earlier this year, the co-founder of Reddit Alexis Ohanian made a prediction regarding ethereum (ETH) touching $1,500 by the end of 2018. It’s almost the end, have we seen it happen? No.
The uncertainty associated with the world of cryptos is very large. One can only speculate, not predict. The future seems to be very liquid. Predictions can be made, but they might turn out wrong again, as seen in the case of Alexis.
The crypto world overall is still in its nascent phase. Developments are still being made to give it a final form. If the official acceptance of cryptos by the governments takes place and different platforms are provided to the people to enter this world and use it, things might turn good and we might see a price boost. But right now, everything seems to be a bit blurred. A specific year cannot be pinpointed out where the next top might be…if there is any.