As cryptocurrency prices recover, Ethereum appears to have experienced the most significant rise in price last month.
Between April 1 and May 1, Ethereum has climbed from $392 to $691 reflecting a 76% increase in price. This commendable rise in price has increased the vote of confidence in Ether after it fell from its all-time high of $1330 in December.
Light After Darkness
As the price fell, the technology behind Ethereum struggled to retain its appeal among developers and investors alike. However, the recent recovery rally has given the Ethereum community hope again.
Co-author of Laser whitepaper on Blockchain said that before the end of 2018, Ether would go as high as $800-$900 if not higher. In his words:
“Ether has proven itself a remarkably robust cryptocurrency thanks to the fact that it doesn’t experience latency issues like its counterpart, Bitcoin. Also, the smart contract feature of the Ethereum blockchain gives it an advantage over other cryptocurrencies as well as fiat money. After passing the bubble phase, we may not see the kind of exponential growth we saw before. However, Ether still has a significant advantage over other cryptocurrencies. Also, the upcoming implementation of the Casper protocol will add to Ether’s value over time.”
Also, managing director and co-founder of Minery, Alexey Paikin, expressed optimize about the future of Ether. Alexey says that the price of Ether will go up as high as $3000- $4000 by the end of the year. Alexey believes that Ethereum dominates the market when it comes to trading.
Ethereum Bounces Back
In April, Ethereum didn’t attract a positive sentiment after it lost 47.22% of its value within the month.
The co-founder of Delta said that there is no need to lose faith in Ether. According to him, Ether’s spike in price in December and fall in January is no surprise as it wasn’t the only cryptocurrency that was overbought in December 20017. However, it has shown the highest percentage of recovery in the cryptoverse.