After the implementation of the 5th hard fork, the price of Ethereum has gone up by as much as 6%. After the news of successful Byzantium (hard fork) implementation, the price of the second most popular currency jumped up to $351.67. Ethereum has shown a good lift in prices and has increased by 12.81% within the past 7 days.
The accessibility of Ethereum is growing as well as there is an increase in its adoption rate all over the world. The NASDAQ’s Sweden exchange offers ETN’s which tracks the price of Ethereum on a daily basis.
There are plenty of new enhancements done to the Ethereum’s network by the Byzantium fork which include smart contract and security enhancements. The transaction speed and privacy are increased. Some start-up firms have already started to offer custom services to Wall Street in order to enable full confidentiality of client and transaction.
If the expectations and analysis of price movements go right, Ethereum’s price may jump above $390 in the coming days according to CoinTelegraph. Also a closing price above $350 in the coming days will lift the cryptocurrency rise more. But if the currency price does not cross that level, the bears say that the price level would go down to $316 level.
According to Investopedia, an independent stock research analyst Ronnie Moas has predicted that Ethereum’s price will touch the $400 level over the next year. He also foresees that the price of Bitcoin will also surge to $5000 by 2018.
Historically, Ethereum community has well responded to the hard forks and it perceives hard fork as an efficient protocol method when compared to soft forks. The hard forks in Ethereum blockchain have been mostly successful so far. On Oct 16th, Ethereum hard fork Byzantium launched without any hitch and this caused Ether prices to go up!