Bitcoin soared past $4,000, up over $2,000 from a month ago. Bitcoin has seen price surges before, but hitting the $4,000 mark is a new high for the cryptocurrency. If you were early on investing in Bitcoin, you would have made a pretty penny. What if you invested a month or two ago, you could have doubled your money. If you haven’t invested, but you’re wondering what you could have made, someone built a little website where you can see how much money you lost out on.
Don’t worry about not investing early; another Cryptocurrency has emerged recently. Ethereum is a Bitcoin alternative that’s garnered a lot of attention and valued around $300 at the time of this post. It’s based on the same Blockchain technology as Bitcoin, but there is a little more to Ethereum. The currency has smart contracts which let applications run without fraud, downtime, or third-party inference. Some have compared the currency to Bitcoin, going as far as calling it the “next Bitcoin.” Some have even gone as far as calling Ethereum the “next internet” because of those smart contracts.
No matter how you look at it, Bitcoin blowing past $4,000 is a huge moment. You cannot turn on CNBC without them talking about how the cryptocurrency is the best investment of the year. Analyst claim Bitcoin won’t stop increasing in price anytime soon. A lot of the price increase is because of the ICOs (Intial Coin Offering), which have raised millions of dollars for companies. The analysts are also forecasting Ethereum to have a moment very soon. Some have made bold claims like Ethereum will reach $4,000 in the next year.
Ethereum will become the next Bitcoin and much more
Bitcoin isn’t going anywhere, the price will stabilize, and it’ll become a staple of the internet. I doubt we’ll use Bitcoin as an everyday currency in the future, but we may use it to invest in companies or shelter our money from unstable government issued coins. Ethereum is where the future is. The smart contracts hold the most potential when used right. I could see using Ethereum as an everyday currency that’s free from the government. While I might be delusional, it’s an optimistic outlook on cryptocurrencies. Everyone is yelling from the rooftops on how every single one of these coins will crash, and the cryptocurrency bubble will pop.
Ethereum has been relatively stable, besides crashing to ten cents in a few hours. As of now the coin is lingering at $300, which is a huge change from a couple of dollars at the beginning of the year. If you invest now, wait till Ethereum is abopted more widly, you could become a millionare. I see Ethereum as a 5 year investment that is well worth the wait. It will be as big if not bigger than Bitcoin.
Let me know what you think! Explaining how Bitcoin or Ethereum work is way above my head, but I have high hopes for Ethereum. I see it as way more than the next Bitcoin, and surpassing the value of Bitcoin in the next 5 years. Have you invested in any cyrptocurrency, or do you think it’s just a bubble?