Ethereum (ETH) bullish momentum is currently leading the cryptocurrency to reach a new all-time high, surpassing its highest value seen in January 2018.
According to data shown by CoinMarketCap, the price of Ethereum (ETH), The second cryptocurrency most important of the digital markets, marked a new historical maximum on January 19, when its value reached $1.432 USD per unit.
Source: CoinMarketCap
Meanwhile, according to data from CoinGecko, ETH did not hit its 2018 all-time high, but it came close to doing so, coming within just $20 of it on January 19. According to this data provider, ETH broke through the $1.400 USD barrier, reaching a maximum value of $1.423 USD per unit, with an upward momentum of almost 13% in the last 24 hours.
Source: CoinGecko
The cryptocurrency is experiencing a bullish momentum that has led it to grow at a faster pace than that seen in Bitcoin (BTC) in recent months. BTC, the leading cryptocurrency in the markets, has surprised everyone by doubling its all-time high just over a month ago, but in ETH, its value has almost tripled in this same time. Just in December, the value of this cryptocurrency touched $600 USD per unit, while today it is located above $1.300 and $1.400 USD. The sustained growth of ETH in the last month has been driven, among many things, by the launch of its second version, Ethereum 2.0, on December 1, 2020; an update that is generating great enthusiasm among investors and the crypto community.
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Back to $1.400 USD
Ethereum reached its all-time high on January 13, 2018, with a value of $1.448 USD according to data from CoinGecko. At that time, the price of Bitcoin was also experiencing incredible days, although it soon collapsed on the markets, taking the rest of the cryptocurrencies with it. altcoins of the market. However, after 3 years of marked volatility in digital markets, and the institutional interest that crypto assets aroused in 2020, the price of the main cryptocurrencies began to grow and consolidate, seeing a more sustained rise and less volatility in their price.
Thus, after seeing the price of ether fluctuate between $120 USD and $250 USD for several years, the cryptocurrency began a bullish momentum since June of last year, reaching new prices at that time, which took it to a maximum value of 2020 of $740 USD. Although for investors this growth was incredible, many continued their bet to see ether reach and exceed its historical maximum.
So far this month, and in 2021, the price of ETH has appreciated significantly, doubling its price in these 19 days of January.
Interest in Ethereum soars
During the first week of January, Google searches for Ethereum-related terms skyrocketed, as one crypto news site reported on its Twitter account based on data from Google Trends. Interest in ETH reached 100 points – a much higher search interest than when ether hit its 2018 high.
By the same date, the media highlighted that search interest for Bitcoin was close to 80 points, well below the interest seen in 2017. Investors' interest and confidence in ETH is growing considerably. Even Messaria, a provider of real-time metrics and data for the crypto world, notes that transaction volume on Ethereum grew by 28% more than in Bitcoin. A fact that can be interpreted in favor of this cryptocurrency, which is becoming an asset with great potential and attractiveness for investors. Several companies in the industry, such as 3iQ Corp, are preparing new products to boost the entry of new investors into this cryptocurrency.
Lyn alden, investment advisor Swan Bitcoin, noted that there are two possible scenarios for Ethereum’s price going forward, which could either appreciate much more over this and next year, or be overwhelmed by its own complexity. Alden notes that the more complex something is, “the more surprises there can be.”
Continue reading: Reasonable interest? Ethereum broadens its appeal and arouses greater interest among investors
