Ethereum surpassed $1200 each today!!!
Today is a great day to be a holder of Ethereum! Ether just recently surpassed the $1000 mark for the very first time, and now just a few days later it is up to $1200+!
The only headline that I have seen in the news in the last few days regarding Ethereum was the fact that the Brazilian government will soon use the Ethereum Blockchain to write laws and process petitions. Brazil will essentially be using the Ethereum Blockchain for voting and more, and that is great news. Not only does it help Ethereum more acceptable and concrete in the eyes of people around the world, but it will also take away fraud in voting. Hopefully Blockchain technology will eventually ensure that every democratic nation has access to an unchangeable ledger so each citizen's vote will be accounted for.
Transparency is needed very badly in voting systems across the world and any nation that claims to be free and to do the will of the people should hop on board this type of technology asap to ensure freedom!
Another reason Ethereum is steadily rising is due to the fact that so much new money has been pouring into crypto lately. While many new investors are looking for "the next Bitcoin", there are also many that want to be more conservative by buying a coin that is already in the top 10. Ethereum is somewhat of a "blue chip stock" of Blockchain technology. You essentially can't lose in the long term.
Can anything stop Ethereum's epic bull run?
The only potential problem I could see Ethereum having in the future is the bogging down of their Blockchain. As ETH is growing higher and higher, it is getting more costly to send Ether. It is also taking a bit longer to process confirmations with time. This is known as a scalability issue. Supposedly they are already working on a fix for scaling and making their confirmations much faster.
Vitalik Buterin (the creator of Ethereum) said that ETH will be implementing sharding and other fixes to greatly improve the transactions per second for Ethereum. If this can be done with success, I can easily see Ethereum being the number one cryptocurrency one day in the near future.
Many people know of this potential problem to be, and that is why networks with their own Blockchain such as Stellar have been on such a tear lately. Others such as EOS and Cardano will supposedly be very similar to Ethereum, but with much faster TPS(transactions per second). If Ethereum fails to speed up, I think some of these other Blockchains will start taking Ethereum's user base. Some coins such as KIN(from the makers of the KIK chat app) have already switched from the Ethereum Blockchain onto a quicker one. In KIN's case they moved to the Stellar Blockchain. So long as Vitalik delivers his promise, you can bet your bottom dollar that Ethereum will continue this great rise to the top!
What do you think was a factor in Ethereum's recent bull run? Tell me in the comments.
ETH has more upside in 2018. Don't ever underestimate its potential in hitting $3000 by the end of 2018.