Ethereum Price Forecast and Analysis – September 19, 2017…

As the dust settles from China’s crackdown on cryptocurrencies, Ethereum looks poised for a rally that could send it across the $300.00 level. However, the situation remains tenuous.

The Chinese ban confirmed the worst fears of some investors—that central banks and other vested interests will regulate against cryptocurrencies to keep their hold on power.

It’s not an unreasonable fear, but I should add that regulators only banned yuan to crypto exchanges, not the existence of blockchain itself. That may sound like a difference without a distinction, but it could be important later on.

It means that Chinese developers can still be awarded ETH tokens, use those tokens for crypto-to-crypto transactions, and develop smart contracts and decentralized applications.

So the bulk of their contribution is intact. They’re still very much in the game.

Sure, we lose some portion of future inflows from fiat money, but that is not as devastating as everyone seems to think. It isn’t even the most important Ethereum news today.

That title goes to the Byzantium fork, which was activated earlier today as block 1,700,000 was mined. It was a major milestone on Ethereum’s development roadmap.

In fact, the Byzantium fork is much more important to the long-run Ethereum price forecast, because it boosts efficiency and speed as Ethereum approaches scale. And yet investors greeted it with a giant shrug.

The Ethereum to USD exchange rate barely moved in response, climbing just 0.17% to around $287.50.

At the time of writing, BTC dominance is near 48.2% and the overall market cap of cryptocurrencies is roughly $136.58 billion.

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