Ethereum (ETH) why we invest in it
Ethereum is a decentralized, open-source blockchain featuring smart contract functionality. Ether is the native cryptocurrency of the platform. It is the second-largest cryptocurrency by market capitalization, after Bitcoin.
Ethereum is the most actively used blockchain. Ethereum was proposed in 2013 by programmer Vitalik Buterin. Development was crowdfunded in 2014, and the network went live on 30 July 2015.
As well as being a crypto currency that can be used to make payments and other financial services, ETH can execute Turing-complete scripts and run decentralized applications, this is a big step up from Bitcoins limited functionality.
On Ethereum, you can write code that controls digital value, runs exactly as programmed, and is accessible anywhere in the world.
It’s a marketplace of financial services, games and apps that can’t steal your data or censor you
The Ethereum blockchain is utilized for many initial coin offerings.
Ethereum is what we refer to as a 2nd generation blockchain, which means it was created with a lot of improvements over the bitcoin blockchain and has more utility which in the long term makes it more desirable and possibly of greater value to the user than Bitcoin.
Many crypto projects start as ERC20 tokens (which means they start out on the ethereum blockchain until they build out their technology referred to as “launching the main net” at which point they migrate to their native blockchain. Essentially what this means is that ETH is always in demand as an incubator platform for startups in the blockchain and crypto space. The team developing and maintaining Ethereum have proved to be competent and dedicated to the project and will successfully launch many upgrades to the system around December 2020 or Jan 2021.
We see the Ethereum network continuing to grow, adapt and role put new improved infrastructure in the blockchain space for the years to come, we invested in ETH to be part of this journey and have not been disappointed as through the crypto winter EThereum continued to deliver its tech and make improvements, this is an example of a good business.
We recommend investing in ETH for the long term with the potential to take some profits along the way.
While at the time of this writing ETH is trading for around $330 per ETH on sept 22nd, we think it can grow much higher and even eventually challenge bitcoin, our buy up to price is $1,500 (I know this might seem high, but it will in our opinion outperform bitcoin in terms of percentage gains in the long run, while we can’t predict actual target prices we don’t think it will be more than 3-6 months from now that ETH will pass the $1,500 mark.
Remember, if it’s gone up a lot in the last week or two, wait a little and try to buy the dip at a lower price, on some exchanges you can enter the price you which to buy it for and if the market dips to your price within the month, the exchange will execute your trade.
ETH is available on almost all exchanges, like Coinbase, Binance, Bittrex, Hobi etc.
Sept 22nd 2020 Happy hunting!
Until next time,
Frank
