Ethereum Jumps as Crypto Market
.webp "Ethereum Jumps as Crypto Market Stages Mini Rally")
I don’t know about you, but I’m sick of the bear market. After months of seeing my portfolio lose value, it’s about time we saw some green! That said,
it’s important to note that cryptocurrency markets can turn around quickly,
and yesterday’s rally could be nothing more than a pump and dump scheme.
If you don’t have money to burn, it might be wise to wait until the next price drop before investing more into your cryptocurrency portfolio.
In the meantime, here are some stocks worth keeping an eye on as we head into week 7 of 2019.
All About Ethereum Prices
Ethereum prices jumped today, as the crypto market staged a mini rally.
The price of ETH climbed 5.5% to $177.24, while Bitcoin rose 2.4% to $10,484.79.
This is good news for Ethereum investors, as the price of ETH has been in decline since mid-June. The recent rally may be due to increasing interest in Ethereum from institutional investors.
Ethereum is the second largest cryptocurrency by market capitalization, behind only Bitcoin.
It is often considered to be the most promising blockchain platform due to its smart contract functionality.
If you’re thinking about investing in Ethereum, now may be a good time to do so.
Many analysts predict that it will surpass Bitcoin in terms of market capitalization in the near future. The price of BTC has been declining steadily since last year’s bull run and ethereum’s rise could signify the beginning of another bubble.
It’s difficult to determine whether or not this rally is sustainable because many factors influence crypto markets. For example,
China banned crypto trading earlier this year which led to an abrupt drop in bitcoin’s value.
A Quick History of Cryptocurrency Prices
Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, have seen their prices jump today as the crypto market stages a mini rally.
Bitcoin is currently up 2.5% at $11,259 while Ethereum has surged 5.5% to $1,046.
This comes after a tough few weeks for the cryptocurrency market, with prices tumbling on news of tighter regulation in China and South Korea.
However, it appears that investors are starting to feel more optimistic about the future of crypto again.
It’s worth noting that these rallies are fairly small compared to the huge price increases we saw in late 2017.
At its peak, Bitcoin was trading at almost $20,000 while Ethereum was over $1,400. Today, bitcoin is only at 11,259 while Ethereum is 1,046.
What could be fueling this? There’s speculation that traders are looking to cash out gains from past investments before regulatory changes take effect. Others argue that crypto currencies have now reached maturity and there will be less volatility in the near future due to increasing mainstream adoption. Either way, many people think crypto investing will be big business in 2018.
The Current State of the Cryptocurrency Market
The cryptocurrency market is in a state of flux. After a mini rally, Ethereum has jumped ahead of Bitcoin, and the two are currently neck-and-neck. However, it’s still anyone’s guess as to which coin will come out on top in the end.
The crypto market is still waiting for a clear leader to emerge. There have been a few notable surges over the past few weeks – most notably, after an announcement that Russia was considering regulating cryptocurrencies – but there’s no telling when or if this recent mini rally will last.
If you’re looking to invest your money in crypto coins like Bitcoin or Ethereum, consider how long you’re willing to wait before you sell them off and move onto another investment opportunity.
As with any risky asset, don’t spend more than you can afford to lose. Be sure to keep track of all transactions involving cryptocurrencies so you know what your risks are at all times.
Can Cryptocurrencies Continue Their Rise?
Ethereum jumped today as the crypto market staged a mini rally. Bitcoin, Ethereum, and other major cryptocurrencies have been on a tear lately, with Bitcoin hitting a new all-time high just yesterday.
Some experts believe that this is just the beginning for cryptocurrencies, and that they could continue to rise in popularity and value.
Others believe that the recent surge is simply a bubble that will eventually burst. Only time will tell what will happen with cryptocurrencies, but for now, they continue to be one of the hottest investments around. Bitcoin has doubled since January 1st, 2017.
Bitcoin was trading at $1000 USD at the start of 2017. Bitcoin currently sits at $2000 USD, which is double its price from last year. Ethereum was also heavily involved in this jump up in price as it rose from $12 to $16 USD over the course of two days before coming back down again.
However, despite all these positive signs, many people are predicting another bubble forming soon due to how quickly these currencies are rising and how drastically their prices can change within a day or even an hour.
Technical Analysis and Other Factors Affecting Cryptocurrency Prices
Ethereum prices jumped today, following a mini rally in the cryptocurrency market.
The rally was likely due to a combination of technical factors and investor sentiment. First, let’s take a look at the technicals.
The Ethereum chart is showing signs of bullish reversal, with prices bouncing off support around $700. This could be due to recent positive news about the network’s scalability solutions, which have investors feeling optimistic about the long-term prospects for Ethereum.
Furthermore, Bitcoin’s price has been on the rise in recent days, which often has a positive knock-on effect on other cryptocurrencies. Finally, it’s worth noting that Ethereum is currently in a bit of an uptrend against Bitcoin, which could also be contributing to its recent price increases.
While Ethereum’s price increase from Bitcoin may not necessarily be sustainable over the long term, it does provide some interesting insight into how traders are viewing these two major coins. Bitcoin remains by far the most popular cryptocurrency, but Ethereum is surging ahead in terms of market capitalization and trading volume. If this trend continues, Ethereum might soon surpass Bitcoin as the number one crypto asset – no small feat considering Bitcoin has maintained its dominance since launch.
Could We See Another Crash?
After last week’s market crash, many are wondering if we could see another one. Bitcoin and Ethereum both jumped today, however, which has given crypto investors some relief. It’s still too early to tell if this is the beginning of a full-blown rally or if it’s just a small recovery before another crash.
Only time will tell. For now, the general feeling in the community seems to be that today was a good day for Bitcoin and Ethereum prices.
While we don’t know what tomorrow will bring, bitcoin and ethereum jump means traders were probably satisfied with how the markets performed on Friday. What do you think? Did bitcoin and ethereum jump for a reason?
Do you think there will be another crypto market crash soon?
Let us know by commenting below!
