Ethereum is currently trading around $ 574. In the last 24 hours, it has risen by approximately 8%. Most of the other cryptocurrencies are making a comeback as well. This is the reason why analysts predict that these cryptocurrencies can actually rise in the future.
In the last 30 days, it has fallen by around $ 300. This is another reason why many experts believe that a comeback is on the cards. If indeed, it is able to recover that, it will be near $ 1000. This is a significant psychological level for the cryptocurrency.
The potential of Ethereum is not just limited to the cryptocurrency. It is a platform as well. The platform is being used by many programmers as well as developers for decentralized applications. Moreover, it is being used by companies coming out with ICOs. This is the reason why the potential which is present in Ethereum is much more as compared to some of the other cryptocurrencies
At the same point in time, when you look at some of the other cryptocurrencies like Ethereum as well as Ripple, they have risen from the recently made lows as well. Thus, any kind of recovery in the cryptocurrency space is universal in nature. As most of the cryptocurrencies increase as well, Ethereum will rise as well.
Some experts believe that Ethereum will be quick to rise as compared to the other cryptocurrencies. This is because the number of applications of Ethereum are consistently going up. This is one of the main reasons why investors are looking to invest in Ethereum consistently.
Even at current levels, there is positivity about Ethereum. Very few of the investors think that it will be breaking the lows which it just created in the last few days. Most of the investors think that the bottom has been made and therefore, Ethereum will rise.
Thus, if you’re looking to invest in cryptocurrencies, you should definitely be looking at Ethereum. Ethereum has a lot of potential in the future owing to the increasing applications. You have to keep these applications in mind whenever you are investing in Ethereum.
Only once you are able to do that, it will become easier for you to decide what is a fair value of Ethereum and at which levels, you should think about investing in Ethereum. For now, however, most of the investors are still bullish on Ethereum.