It’s official: the Ethereum update is now live.
Developers have successfully implemented the Ethereum improvement protocols (EIPs) known collectively as Byzantium. Which is a wonky piece of Ethereum news, to be sure, but one with an incredibly important investment takeaway:
Byzantium will help Ethereum scale more successfully. Scaling more successfully means an explosion in ETH price forecast.
As a result of the fork, the Ethereum to USD exchange rate rose 4.51% in the last 24 hours. It reached $339.35 by the time this article went to press, while also.
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Daily Ethereum Price Forecast – ETH Rises 4% on Byzantium Rollout
Investors that bought Bitcoin last month are looking really smart right now. Some of them, especially those who bought at the bottom, would have gained upwards of 90% on their investment.
For those who watch the cryptocurrency market closely, the $400.00 price level is to Ethereum what the $5,000 level is to Bitcoin. It is a crucial milestone that can bolster support for the long-term Ethereum price forecast.
On Thursday, Bitcoin prices took flight across the all-important $5,000 level. It is a landmark moment for the currency, made all the sweeter because it comes on the heels of Russia’s anti-Bitcoin posturing.
It seems like a lifetime ago when Ethereum founder Vitalik Buterin was in Moscow, wining and dining the Russian elite. He sat on stage next to President Vladimir Putin and forged relationships with government agencies. All seemed well.
Bitcoin’s ascent to $5,000 was put on hold yesterday as investors priced in harsh comments from Russian authorities. Based on those comments—some of them from President Vladimir Putin himself—it seems as if the Kremlin is turning bearish on cryptocurrencies.
The Ethereum to USD exchange rate slipped ever so slightly on Monday, falling 0.46% to $303.14. However, the fall against Bitcoin was of a different magnitude.
It’s hard to accept when you’re looking at a trading screen that’s flashing red, but the current slump in Litecoin prices has nothing to do with Litecoin.
On Monday, Ripple prices traded as high as $0.278758 before an intra-cryptocurrency rotation diverted the momentum towards Bitcoin. The result was an 11.36% depreciation of XRP against BTC.
For what seems like the hundredth time in the last month, ETH prices crossed back above $300.00. The random flips between bullish and bearish behavior have stalled the Ethereum price prediction around this level.
Initial coin offerings (ICOs) are shining brightly at the moment, but that may not be helping the Ethereum price forecast. For one thing, ICO regulations are extremely murky and can change at the drop of a hat.
Two days ago, Ripple CEO Brad Garlinghouse held a Q&A on Quora (the popular Internet forum that syndicates the answers to major news outlets). Today, that Ripple news managed to send XRP prices up 9.99% while Bitcoin, Ethereum, and Litecoin all dropped.