Ethereum has been one of the most exciting cryptocurrency propositions in the markets of late. The platform has been home to a number of decentralized apps which are being developed and executed over the blockchain systems. It has gained the attention of developers from around the world as well as attracted praise from many top investors. Over the past 24 hours, Ethereum went through many ups and downs – crossing the $800 price point in the process.
The $800 price point was a landmark in Ethereum’s recovery as this indicates that the currency has grown by over 50% since this time in April. Ethereum’s price gain has been attracting a number of investors towards it. Let us take a closer look at how the currency performed over the past 24 hours, as well as the past year.
Ethereum’s price, over the past 24 hours – has fluctuated quite a bit. At the start of the day’s trade, ETH was priced in at $809. From there, Ethereum’s price went to the day’s high of $835 – but was hit by a quick downtrend which brought it down to $787 to close the day. Over the course of the day, Ethereum’s market cap went from $80 Billion to $78 Billion – losing $2 Billion over the day. This rise in the price means that Ethereum is back to the levels it was in early January – from where the price skyrocketed to $1400 in a week.
A week-long look at Ethereum’s price indicates that the currency started the week at $691 – and went to attain a high of $835 over the course of the seven-day period. The lowest point of the week came when Ethereum price dropped to $638. Ethereum started off the week with a market cap of $68 Billion but closed the week at $78 Billion – a strong recovery for the currency.
Ethereum’s slow march to success is likely to continue over the next week. The currency is expected to hit a high of $900 over the next seven days – and the target by the end of this month is expected to be that of $1150. Many market bulls such as Reddit co-founder Alexis Ohanian have shown great faith in Ethereum – and it is expected that the currency will soon hit a new all-time high.
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Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.