Ethereum goes back to the top

After going down to $390, Ethereum just went back to almost $691, noting an increase of almost 80% in just under a month. The digital currency took a huge plunge following the massive price of $1,330 in December. The reason for the increase in price at the end of last year may be owing to the overconfidence in the cryptocurrency market, as well as the promising technology behind Ethereum and its versatile applications.

According to Maxwell Arnold, the co-author of the Laser whitepaper on Blockchain, Ethereum may hit the $900 level some time in 2018, as reported by Express UK. According to the expert, Ethereum is likely to bounce back because of the functional advantages it has over fiat currencies. In addition, the smart contracts that Ethereum works with as opposed to other digital currencies are also a huge advantage that Ethereum has. Overall, from e technical point of view, Ethereum can be deployed across a wide sector of applications, making the currency and…