Ethereum (ETH) prices have rallied almost 50% in the last month, and we just found even better news for crypto enthusiasts.
Alisa Gus (CEO of WishKnish) told Finder.com that, by the end of 2018, she projects ETH prices will reach $2,100. From today's prices of $738.10, that's a potential profit of 184.51%.
Gus was the most bullish, while the other analysts surveyed believe Ethereum will trade between $750 and $1,500 by the end of 2018.
In Bitcoin news, prices ticked slightly higher, but concerns about Mt. Gox continue to rattle investor sentiment.
A Tokyo-based, court-appointed trustee has received orders to distribute more than 8,000 bitcoins among Mt. Gox creditors.
Meanwhile, markets continue to monitor the recent raid of South Korean exchange UpBit. The raid came after South Korea regulators raised concerns about potential fraud and mismanagement of customer accounts.
Here is a recap of the top five cryptocurrencies by market cap as of 3:00 p.m. EDT.
|Cryptocurrency||Price||Market Cap||Change (24h)|
|Bitcoin Cash (BCH)||$1,467.43||$1,128,100,000||-1.10%|
Now here's a closer look at today's Money Morning cryptocurrency insight, as well as the most important cryptocurrency updates you need to know…
Money Morning Cryptocurrency Insight of the Day
Even though BTC prices have dropped 40% since the start of 2018, we aren't worried.
Stunning: New Innovation Will Be Like "Adding Twin Turbos to the Bitcoin Engine" – and Could Send Its Price to $100,000. Learn More…
Yes, if you jumped in around January and have watched the Bitcoin prices plummet, you probably have the urge to sell all your coins or avoid the crypto market entirely.
That could be a costly mistake…
The Top Cryptocurrency Stories for May 14, 2018
- China will soon release an official report on about 30 decentralized currencies. "This independent analysis of cryptocurrencies and global public blockchain technology demonstrates the confidence of the Chinese government in the technology, and will act as a guide," regulators said.
- Markets are also keeping an eye on Facebook Inc. (Nasdaq: FB). Last week, Cheddar reported that the social media giant is considering the creation of its own cryptocurrency. The development is surprising, given that the company had banned advertising related to cryptocurrencies earlier this year. The Facebook cryptocurrency would be used to facilitate payments on its platform. It's worth noting that the head of the group that is exploring the Facebook coin is a board member of the cryptocurrency exchange Coinbase.
- Will cryptocurrencies be part of a future bailout or economic stimulus effort by the U.S. Federal Reserve? That was suggested in new report by research analysts at Morgan Stanley (NYSE: MS). The Wall Street investment bank suggests that state-sponsored cryptocurrencies could allow central banks to press interest rates into negative territory. "Freely circulating paper notes and coins (cash) limits the ability of the central banks to force negative deposit rates," the report reads. "A digital version of cash could theoretically allow negative deposit rates to be charged on all money in circulation within any economy."
- Finally, markets are reacting positively to the announcement that ING Bank and HSBC Holdings Plc. (NYSE: HSBC) engaged in their first trade ever using blockchain technology. The two engaged in a trade on behalf of Cargill to finance a shipment of soybeans from Argentina to Malaysia.
The Shocking Reason Why We Think Bitcoin Could Hit $100,000 (and How You Could Make Millions)
Money Morning Defense and Tech Specialist – and cryptocurrency legend – Michael Robinson just revealed the little-known details regarding the future of Bitcoin… and why, at any moment, it could be poised for a record-breaking rebound far beyond anything we've witnessed already.
Michael made a prediction about Bitcoin way back in 2013 – and folks who followed his advice stood to become 253 times richer.
We'd venture to say not one in 10,000 people is aware of the massive profit potential unfolding right now.
Before the mainstream public gets any wiser, you need to see this now.