Ethereum Expectations 2020
Are you about to purchase ether? Then it might be useful to know what the prospects are for the coin. Of course this also applies if you already own some ETH.
But before we look ahead, let’s take a look back first: if you bought ten euros worth of ether at the start of 2016, they were worth 10,000 euros at the end of 2017… This may sound disheartening, but whilst it’s good to look at the past and learn from it, we shouldn’t linger on the choices we did or didn’t make.
Curious about what Ethereum has in store for us next year? Let's find out!
What can cause a price rise?
The amazing price increase for ether is mainly due to the fact that thousands of applications have been built and loads of initiatives have been started on the Ethereum network. Think of the successful CryptoKitties, a kind of digital Pokémon in the form of unique cats.
Another good example are ICOs (Initial Coin Offerings). You could compare an ICO to a kind of crowdfunding campaign where you are able to invest in a project using Ethereum. You will then receive tokens in return, which have their own value. There have definitely been some profitable ICOs, but the majority of all those tokens plummeted after the ICO craze ended, and currently rest in peace on www.deadcoins.com.
For some time now, Ethereum has been working hard to make the transition to another way of securing the blockchain and to reach consensus. If you want to learn more about that, we recommend you do some research on Serenity. This is the next step to becoming the world computer. That’s the ultimate goal of Ethereum: a decentralized internet on which every program can run, using the following core values:
Simplicity, resilience, lifespan, security, and decentralization.
At the moment, Ethereum still uses Proof of Work, just like Bitcoin. This means participants of the network use their computer power to add blocks to the blockchain. Or literally put: in this way they prove that they have done work. But Ethereum is planning to switch to Proof of Stake. This is based on proving that you own a lot of ether and that you therefore support the network. This provides you with voting rights.
The switch is expected to take place in January 2020. Many ether fans foresee the price to react to this development. Because, if you want to have voting rights with the new system, you will need to hold on to a lot of ether. The demand increases in this way. And the higher the demand, the higher the price will be.
In 2016 and 2017, the rise of the ether price was the starting signal for all altcoins to take off. Will ether be able to spark a similar movement in 2020, and start a new ‘alt season’? In any case, the switch to ETH 2.0 is highly anticipated.
Scan the correct QR code with your phone and download BLOX!
What do analysts say about Ethereum in 2020?
Honestly, that doesn't really matter that much. Everyone just speculates and presents their opinion as the truth. So take the following statements with a pinch of salt, and certainly do not see this as any form of investment advice.
Bobby Ullery is an online Ethereum evangelist. He expects that next year, five percent of the world's gross domestic product will consist of cryptocurrencies. 25 percent of this consists of ethereum, according to Ullery. Ullery takes all the figures from his analysis, throws them together in a blender, and comes up with a price of 10,291 euros in 2020. Let’s hold him to that promise..!
Another way of looking at the market is through technical analysis. With this, you try to find patterns in price movements. You look at past price developments, and place the patterns you find on the current course. You then extend such a ‘trend’ into the future, and voila, you have a price prediction.
That's what CoinKir has done. This analyst comes up with an expectation of 1,346 euros for Ethereum at the end of 2020.
CoinSwitch also has big expectations. At the end of 2019, the coin will be worth 1,311 euros, and it will rise to be worth 2,243 euros in 2020!
And then there are the negatives (booooo) such as WalletInvestor. This investor expects the ether to decrease, and that the coin will be worth only 38 euros in 2020.
Do your own research
As you can see, nobody agrees. Fact is, the Ethereum Foundation of Vitalik Buterin does everything it can to keep improving the product. Major changes are coming, and this can easily attract the interest and trust of investors.
Important disclaimer on our part: investing in ether proved to be a good choice in the past. However, that is no guarantee that this will be the case in the future. So invest wisely: always do your own research and only use money that you can miss. We don't want you to have to exchange your weekly caviar for mac & cheese.
Buying ethereum in four steps
BLOX is completely free to download for iPhone and Android. Check out the App Store or Google Play on your smartphone, and look for ‘BLOX crypto trading’. Or keep it simple and click one of the buttons on the top of this page. Downloaded the app? Then it’s almost time to buy ether!
Creating an account is easy, you can register within one minute. Use your email address or one of your social media accounts.
Fill out your name, enter your email address, and come up with a strong password. Read the terms and conditions and click ‘Accept’. We’ll send you an email as verification. Click the link within 30 minutes and continue to the next step.
Just like your Nokia 3310 back in the day, you can charge the credit on your BLOX account. But instead of walking to the store in order to buy your credit, it only takes a few seconds to charge the credit in your BLOX app.
Open BLOX and choose the Euro icon. Select your preferred payment method, like bank transfer or credit card, and charge as much (or as little) as you please. Just one more step, and before you know it, you own some ether.
BLOX is installed, you’ve created an account, and your credit is charged. You can spread over various crypto, or go all-in on ether. Or maybe wait a little longer..? The choice is all yours.
Go to the Markets section on the bottom left, choose ‘Ethereum (ETH)’, and find out everything about the price developments of the last day, week, or month. Happy about the current price? Click ‘Buy’ and choose how many ether you’d like to purchase!
Naturally, selling ether is just as easy as buying it.