What is Ethereum?
Launched in 2015, Ethereum can be regarded as one of the earliest cryptocurrency after Bitcoin. It started as an innovation, a decentralized software platform based on blockchain. Here, users can transfer funds very quickly. Since there is very less risk of fraud or any interference, the currency quickly became popular. Today there are millions of users who use Ethereum to transfer payment throughout the world.
Price History of Ethereum
In 2015, the launching price of Ethereum was no more than $0.68. Moreover, throughout the year it progressed at a steady pace. The cryptocurrency quickly became popular in the mid of 2017 that resulted in a huge surge that lasted for an entire year.
Trend in the Past Few Years
The price of Ethereum at the end of 2017 was $730, however, what the investors did not know was that the price was going to skyrocket again. In the mid of January 2018, Ethereum reached a historic high value of $1319. Moreover, people who invested their money became rich and the name Ethereum was etched into the heart of the crypto community.
A Gradual Decline
Soon after reaching the peak, the cryptocurrency took a huge fall and settled at $138 at the beginning of 2019. Moreover, the value fluctuated throughout the year but there was no significant change in price. However, in 2020 Ethereum picked up the pace and started progressing.
A Good Time to Invest
Naturally, this gradual but stable increase in price caught the attention of many investors. They followed their business instincts and started to buy the currency. Their efforts were rewarded when the coin broke the $400 barrier in August 2020. However, the crypto community soon realized that this was a temporary spike in the value so they took advantage of this situation and sold all their coins. The strategy was to wait for it to fall again to its lowest value where they would invest more money, hoping for more return.
Recent Price Surge
Towards the end of 2020, Ethereum started to rise at a fast pace. In October 2020, its price was around $350. However, In November it rose to $550. A 55% increase in price, although investors were very patient, some of them decided to sell their coins and move on to the next investment opportunity. Moreover, those who decided to stay were the lucky ones because towards the end of 2020 there was another surge. On 31st December, Ethereum was priced at $742. Furthermore, in the past few days, the coin broke the $800 barrier and every investor who stayed resilient is now reaping the rewards. On 3rd January 2021 Ethereum is priced at $850.