Why Ethereum Might Not Hit A New All-Time High In 2019
Ethereum, the 2nd top cryptocurrency by market capitalization has been way below expectation and has been regarded as a disappointing coin by many, though several experts believe ETH’s price will soar to surpass its all-time high by the ending of the year.
In any case, Ethereum began as a revolution, with dApps, smart contracts, and other significant innovations, it was one of the major headlines in the news in Jan 2018 when due to an ICO craze it soared up to an all-time high of about $1433.
However, Ethereum has not seen any dominant bull run after its all-time high, although It has been in existence for four years, as July 30th marked the 4th anniversary of the cryptocurrency.
Ethereum’s torpid network is one of the biggest worries as its dApps competitors such as Tron and EOS appear to be much faster.
There are a lot of other problems facing ETH, and there has been a lot of negativity projected for the cryptocurrency. But, can the digital currency beat all odds to surpass its all-time high by the end of 2019?
Taking a critical look, Ethereum might have to endure a similar fate suffered by some altcoins (like NEM in 2018) as there are previous and recent development delays and a lot of high wasted capital. Indeed, this suggests that Ethereum might call for a split before the launch of Ethereum 2.0.
Moreover, the ETH/BTC ratio is now, even more, closer to its lowest. It’s no surprise that many analysts go bearish on ETH as they believe the ICO craze that propelled it to over $1k will never come back basically due to the SEC crackdown and the gradual absence of scam victims.