Price Analysis

Ethereum (ETH) Price Analysis: Ethereum Seems to Have Tamed the Bear; Long-term Bull Ride is Likely

Ethereum (ETH) is created by Vitalik Buterin, Gavin Wood, and Joseph Lubin as an open sourced and decentralized platform of cryptocurrency. It requires no approving authority to validate the transactions, and the basic USP of this platform is its ability to issue smart contracts. The Ethereum Virtual Machine (EVM) is a major part of the Ethereum ecosystem. It helps the coin to create numerous distributed applications (dApps).

Current Statistics-

Ethereum

  • Ethereum (ETH) is the 2nd largest crypto coin in the global market.
  • The ROI (Return on Investment) stands at 5471.86 %.
  • The coins at current circulation stand at 105,854,807 ETH.
  • The current market cap as on 29th April at 03:54 UTC is 16,687,460,213 USD.
  • The value of each coin stands at 157.65 USD and 0.02983638 BTC.
  • The 24 h volume stands at 5,356,695,723 USD.

Comparison-

The value of Ethereum (ETH) has been through many ups and downs since the starting of 2019. The value was 133 USD at the beginning of 2019 and then it fell down to 105 USD in a month. The highest gain was made on 1st April. It gained almost 30 USD in just 5 days’ of time. The market cap on 29th March was 14,725,973,530 USD. The value of each coin was 139.67 USD and 0.03435734 BTC. The current market cap is 13.31 % more than the market cap of 29th March. And the value of each coin has inflated by 12.87 % in these 30 days.

Prediction-

Since the starting of April, Ethereum (ETH) has been going through tough phases. The value has seen many ups and downs. Currently, it is being traded around 160 USD. We predict the coin to encounter steep growth with multiple surprising falls in the coming month. The next resistance should be faced at 170 USD. However, after this resistance, ETH will be going with decent speed in the market. The 2019’s end prediction of ETH stays at minimum 400 USD, and it may go as high as 500 USD. By the end of 2020, the value may go near 1500 USD on a similar pace of Bitcoin.

Conclusion-

We advise the short term investors to be cautious of the price movements. A little caution will help them earn decent over a small period of time. Long term holders will be the biggest gainers. This investment can be of the most profitable investments of the year as far as the crypto market is concerned.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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