Many people over the course of this month have been watching the progress of Ethereum very closely, I must say that personally I think the coin has performed better than ever expected. Considering the bearish run of cryptocurrencies in 2018 coupled with Ethereum’s own internal issues like skating and all, its ability to have stayed above the $1,000 dollar mark for the greater part of January is quite the thing to talk about. What’s more, the coin looks to be on its way to surpassing its all time high. The Ethereum Ether presently trades at $1,225 at the time of this writing. With just a $120 increase, it could surpass its previous high.
Bad Times, Good Business
First of all judging by the mass slaughter of cryptocurrencies in this month, finding one that is able to ride this storm is almost impossible. Bitcoin is doing well in keeping its neck just above the waters, even though it has survived more market attacks than any other digital coin. But Ethereum is just something else, it isn’t just barely surviving, it is thriving. Ethereum rose from a little above $800 dollars beginning of 2018 to hit $1,330 in a space of one week. However, it went below that figure again hitting as low as $750 dollars once more. As bad as this was, it was also the best time for people who believed in the coin’s ability to be the cryptocurrency of the future to buy some Ether. This helped the coin quickly gain value once more leading it all the way up to the top again.
Perfect Market Trading For Ethereum
As it would seem, Ethereum investors are getting the run for their money presently as the coin managed to reach $1.225 yesterday. Most figures from various markets suggest this rise is as a result the 12.41% in the increase of the US dollar. This figure has managed to give Ethereum a better ETH/BTC ratio as there has been a 10.56% increment for Ethereum. Should this pattern continue for Ethereum it could be on its way to passing its previous all time high.
Ethereum managed to make 5.18 billion dollars in trading volume in a period of 24 hours. This proves that more people are demanding for Ethereum and that there are more people buying the coin than there those who are selling, and this is very good news for the cryptocurrency. The figures are gradually building up a certain kind of momentum of the cryptocurrency that will determine the pace at which it will run for the next week or maybe even two at most. The enthusiasm is quite encouraging as it shows just how well people worldwide are receiving the cryptocurrency.
However, all we can still do is just sit back and watch how things unfold in the market despite our predictions and expectations. Besides this is the crypto world, a few weeks ago BTC was $19,000, today it’s about $11,000 ; anything can happen at any point in time – either for the good or the worse.
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