Ethereum price has been on a positive uptrend since the Byzantium fork. When we take a closer look, the price has been mostly consolidating gains from earlier this year.
Our research team has maintained a positive outlook for Ethereum in 2017, even in periods of sharp retraces. Those where time where financial media was quick to call for a Cryptocurrency collapse or the classical Bitcoin Bubble bursting.
What kept our Team focused and maintaining a positive outlook was something our founder has shared since day one on our sister site Investinghaven. This key factor is the core of our successful Ethereum Forecast :
Our Ethereum price forecast is based on usage of Ethereum. A very important indicator is the usage of Ether in decentralized applications. To us, this is the real intrinsic value of Ethereum. An Ethereum price forecast of 1000 USD.
Cryptokitties and Ethereum Intrinsic Value
CryptoKitties is one of the world’s first games to be built on blockchain technology. You can buy, sell, or trade your CryptoKitty like it was a traditional collectible, secure in the knowledge that blockchain will track ownership securely. But, unlike traditional collectibles, you can breed two CryptoKitties to create a brand-new, genetically unique offspring. Cryptokitties
Some breeds were sold for over 100,000 USD, players were scattered around the globe. This is huge news for Ethereum because yes, the Ethereum network was jammed due to the scale of the transactions since you can only pay for the “Kitties” by using Ether. But really, that is nothing compared to the fact that the game quickly became the number one Ethereum Dapp, with sales hitting 12 Million USD.
In fact, CryptoKitties, the first game built on the Ethereum Network showed the world how Blockchain can make make large scale transactions / Exchanges smooth without a centralized authority or plateform. Smart contracts were ensuring there is no duplication of counterfeit Cryptocats, huge amounts of data were created, shared and stored on the Ethereum network. This is just one more application of Ethereum that shows how powerful the Blockchain technology is especially when combined with smart contracts, A combination unique to Ethereum. This is why we believe there is more upside in store for Ethereum Price.