In the past months we have seen an incredible growth of the Ethereum value and of the cryptocurrency market capitalization. Ethereum went up from nearly $8 dollars to an astonishing $400 on June 13th. Then, it came back to $225 and now sits at $275. In the last few weeks the market wasn’t so stable, so if you’re planning to get in for a long-term investment, think twice about it.
Will it ever hit $1000?
Many people think Ethereum is going to hit that price even before the end of this year. This could be possible, but keeping in mind that Ethereum’s circulating supply is 92,931,582 ETH, if the price goes up to $1000 the market cap would be $92,931,582,000, over two times the current bitcoin market cap! In my opinion, if there are not big issues on the Ethereum network this result could be realistic in 2018. Note that after August 1st everything can change: in a Bitcoin-fork scenario, Ether could skyrocket and reach $1000 even in 2017.
However in the long term the possibility to reach stability over $1000 relies only on the diffusion of Ethereum network and the use of smart contracts. If not, Ethereum will mainly remain a coin for speculation without an effective use.