Just three dollars away? Yes!
If the price of each ETH token raises for three more dollars, the market cap will reach two billion dollars. It’s a relatively long way to go, but with the action both Bitcoin and Ethereum have enjoyed these past few weeks, it’s certainly possible.
Three dollars is a lot of money, which is quite obvious when you consider that there are almost 90 million tokens in circulation.
Take a look at this chart below, and you will clearly see that the price has risen about 46% over the last 7 days. Now, this may be an indicator that Ethereum is going through a pump and dump phase, but it could also mean that people are ready to pay more for this cryptocurrency. The latter is much more likely. Scroll beyond the chart to learn why.
So, why are people expressing this sudden interest in Ethereum, and what has changed in the ecosystem to provoke it? Something called the Enterprise Ethereum Alliance. Companies like Microsoft, Intel, UBS, together with other high-impact entities have joined forces to openly support the development of the Ethereum Network.
Both John Frazer and Ming Chan, high-ranking officials of the Ethereum Foundation support the creation of this Enterprise Alliance and publicly express their support and willingness to cooperate with the alliance in the future.
This level of cooperation can open a new chapter in the crypto world, enabling innovation and implementation of various systems across the network.
While it is truly impossible to predict the exact movement of the markets, our speculation is that the news of this alliance and the mutual support between the Enterprise Ethereum Alliance and the Ethereum foundation may hold the answer to the increase of the price of Ether.
A high probability of a large increase in value will be the result of a successful negotiation between both of these entities and furthermore the presentation of any fruits of labor a result of said negotiation.
So far in the history of Ethereum, according to www.coinmarketcap.com the highest price point has been $21.52 on June 17th, for a total duration of just 5 minutes. It snowballed downward after this moment in time. Wonder what happened? 😉
There are two questions I want to ask you, the readers.
- Is the price going to break through to a new all-time high?
- When will it happen?
Write your predictions, in the comments below. 🙂