When it comes to cryptocurrencies, Ethereum is second only to Bitcoin in terms of popularity and market capitalization. The native token of the Ethereum network is called Ether and it is often considered to be the digital currency of the future.
In this article, we will take a look at the factors that could influence the price of Ethereum in 2020 and beyond.
The first factor to consider is the overall development of the Ethereum network. The Ethereum network is constantly evolving thanks to the efforts of the Ethereum Foundation and the many developers working on building decentralized applications (dApps) and smart contracts.
This ongoing development should help to increase confidence in the long-term prospects of the Ethereum network and its native token, Ether.
Another important factor to consider is the increasing use of Ethereum by major corporations. A number of large companies have already begun using Ethereum’s blockchain technology for various purposes such as supply chain management, cross-border payments, and so on.
This trend is likely to continue in 2020 and beyond, which could lead to more mainstream adoption of Ethereum and higher prices for Ether.
The third factor to consider is regulatory clarity. Cryptocurrencies are currently facing a lot of regulatory uncertainty in many jurisdictions around the world.
However, this situation is gradually improving as more countries are clarifying their stance on digital assets. If this trend continues, it could create a more favorable environment for Ethereum adoption and price growth.
In conclusion, there are a number of factors that could influence the price of Ethereum in 2020 and beyond. The ongoing development of the network, increasing use by corporations, and improving regulatory clarity are all positive factors that could lead to higher prices for Ether.