At the start of this year, Ethereum (ETH) was trading around $ 750 with the market cap of $ 73 billion. While the other cryptocurrencies had begun falling from the start of this year, Ethereum (ETH) witnessed a rally from $ 750 to approximately $ 1200. That is why it has a distinct advantage of having to achieve less in order to close the year 2018 in the green.
Can Ethereum (ETH) close 2018 in the green?
Irrespective of what most of the traders, as well as experts, believe, it is very difficult for Ethereum (ETH) to recover from these levels in order to end the year in the green. In a single quarter, it is difficult for it to rise by 3.5 times. Even though it might be able to rise from these levels but it is very difficult for it to close the year in the green.
With that being said, smart contracts as well as the normal blockchain-based applications of Ethereum still going pretty strong. It is one of the most preferred choices of the developers for decentralized applications. That is why, overall, the usage of the Ethereum blockchain is certainly not going to decrease. It is only that the number of ICOs launched are being reduced and that is why that particular aspect of the Ethereum blockchain is being reduced in its usage.
With the other cryptocurrencies falling right from the start of this year, among the mainstream cryptocurrencies, there was only hope for Ethereum (ETH) to close the year in the green. However, since the gap is so huge, it seems like it will not be able to close the year 2018 in the green. Like the other cryptocurrencies, it might end up providing a negative return for the year 2018.