It is no secret that Ethereum has been one of the best-performing cryptocurrencies in recent years. From a price of around $100 in early 2017, Ethereum surged to almost $1,400 by the end of the year, giving investors massive returns.
However, can Ethereum continue this momentum and reach $100,000?
There are several reasons why Ethereum could reach this lofty price Target.
Firstly, Ethereum has proven to be a very popular platform for launching new cryptocurrencies and Initial Coin Offerings (ICOs). In 2017 alone, there were over 100 ICOs launched on Ethereum and this trend looks set to continue in 2018.
As more and more projects launch on Ethereum, demand for the currency will increase, driving up prices.
Secondly, Ethereum is being increasingly adopted by major corporations and organizations. Microsoft, JPMorgan Chase, and others are already using Ethereum’s blockchain technology for a variety of applications.
As more companies realize the potential of Ethereum’s blockchain, demand for the currency will once again increase.
Lastly, there is a lot of hype surrounding Ethereum at the moment. Cryptocurrency markets are often driven by hype and speculation and Ethereum is currently enjoying a lot of positive buzz.
This could help push prices even higher in the future.
So, can Ethereum reach $100,000? It is certainly possible. The currency has a lot going for it and if the current trends continue, we could see Ethereum hitting this eye-watering price Target in the years to come.