Will Ethereum take investors from rags to riches? According to a new algorithm that predicts the future value of commodities, the answer is yes. How Rich Would You Be is a clever piece of software that compares and tracks the market data for the past 12 months. Using the data, the software is designed to provide investors with information that they can work with to decide what they want to focus on next. The software which operates with machine learning is able to compare data from historical sources on 15 stock options. In doing so, it is designed to provide information on their potential rise or possible fall on the market.
The commodities that are compared and predicted include:
- Bitcoin Cash
Investment predictions are laid out in a way that is clear and easy to understand, providing key comparative data on the potential investments.
So, what are the findings? Well, according to this software, cryptos will dominate overall with climbs between 23% and 173%. It’s that last percentage that investors should take note of. That’s for Ethereum, and in one year, this software is predicting a jump from $294 to $788. Comparatively, Bitcoin – the world’s most popular crypto will only rise 23% but will be worth more overall at an astounding $8920.
Compared to other commodities on the market, Ethereum investors will see a staggering leap forward in value. Particularly when compared to Alphabet with a 10% drop and investors in Coffee who will see a 20% drop. It’s not all bad news on the rest of the market though. Annually, investors in Oil are predicted to see a 48% rise.
One might wonder how reliable this data is. After all, on September 9th 2018, the currency fell to its annual low of just $185. Now, ETH has rebounded to $200 but still has a long way to climb to reach the predicted $788 mark. The downward trend currently being experienced seems to be mainly due to ERC20 block projects selling off ETH holdings, seemingly out of panic. This caused ETH to experience a larger more significant downturn compared to other major cryptos.
Previously ETH was predicted to reach an all-time high of $20K, and it is now unclear whether this will occur. Over the past few weeks, the currency has continued to fall. That said, analysts admit that the volatility of the market means that it is impossible to predict. It’s difficult to say what could come next for the currency.
As such, it is possible that the data provided by How Rich Would You Be holds true. The data provided by the machine learning source suggests that the uptick in value will be apparent as early as September 17th. Analysts have stated that ETH will recover if buyers regain control taking a stand, pushing the value back up on the market.
Ultimately it’s a wait and see game as to whether or not this software really can predict an unexpected rise in value for Ethereum.