Our friends at InvestingHaven.com released their Ethereum price forecast for 2017. As always, their price forecasts are very well researched, and they are all spot-on. Based on their research, it appears that Ethereum’s price would reach $550 still this year, so that is a strongly bullish Ethereum price forecast.

Ethereum price explosive in 2017

The price of Ethereum is moving higher along with most other cryptocurrencies. According to Investinghaven, that is really the result of supply/demand dynamics.

In other words, there is intrinsic value in cryptocurrencies, and, especially, Ethereum. Ethereum is arebeing bought and sold, transactions take place.

There is no mainstream adoption yet. Most people even have not heard of cryptocurrencies.

The price of Ethereum in 2017 has literally exploded. Rightfully so, because its usage has exploded as well, as shown in the charts embedded in InvestingHaven’s article.

An Ethereum price forecast for 2017

InvestingHaven’s Ethereum price forecast is based on usage data. It is very hard to know the precise volume that Ethereum projects consume, because those figures are not available. Still there is one important chart that suggests how strong Ethereum usage is.

ethereum transactions

It is hard to forecast how usage will grow, but the high level trend is up. Stated differently, there is enormous untapped potential in Ethereum.

Given the enormous untapped potential of Ethereum, and the strong adoption among respected top banks across the globe, InvestingHaven believes this trend acceleration only got started.

Because of that, their forecast that Ethereum’s usage will go up fivefold this year.

Given those data points, the best case price forecast for Ethereum in 2017 is $550, which is a fivefold increase against the price of last week.

Original source: The article An Ethereum Price Forecast For 2017 originally appeared on InvestingHaven.com

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