Ethereum [ETH] Q1 Report Shows Why ETH Will Be Successful This Year
Ethereum could have a great year starting with Q2, 2019. Although facing many challenges starting with platform updates, governance issues, or scaling woes, this year could be extremely important for the Ethereum [ETH].
While it might have been pretty low in 2018 compared to the previous year, 2019 seems to be the year for the Ethereum blockchain. Let’s see what TNW’s Ethereum Q1 report says about the future of this cryptocurrency and what will it happen to it in Q2.
2019 – ETH Price to Increase in Q2
The report states that while 2017 was a positive year for Ethereum’s price, closing with gains over 8,000%, in 2018, the trading price dropped by 90% in just one year, adding that:
“ETH opened 2018 at $712 and continued to grow in price until the middle of January when it reached a high of $1,397. A few days later, however, a market correction caused its price to drop by 18 percent.”
In a performance analysis, the report shows that Q1, 2019 was “uneventful,” mentioning the peak of $156 (January 7). However, Q2 seems to be more positive, as ETH’s price increased to $177 (from $139):
“Indeed, it’s a strong start but Ethereum is facing many challenges. Whether this strength will continue remains to be seen.”
ETH Resilient in the Face of Challenges
The first week of the Q2, Ethereum had a short dip to $155, then it rose to $180. It is a promising start for Ethereum, but we must not forget that the cryptocurrency still faces a lot of challenges. However, TNW adds that “given how well it weathered the bear market and how stable its price was for the final half of Q1, it seems to be resilient in the face of recent challenges.”
We can only wait and see how it evolves in the second quarter.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.