Ethereum is a decentralized, open-source platform that underpins a lot of the cryptocurrency industry today. If you are looking to invest in cryptocurrency for the first time, or are already investing in cryptocurrencies but want to diversify your investment, then keep reading to find out more about whether Ethereum is a good investment right now.
Ethereum Performance
Before you decide whether or not to invest in Ethereum and place your order, it’s important to have an idea of how it is performing in the market. You can do this by looking at the Ethereum price USD using the best crypto analysis tools to gauge the overall health and volatility of the market.
Ethereum was first launched in July 2015, at an introductory price of just $0.75 per coin. However, this all changed quickly. Within just three months, ETH had reached an all-time low at just $0.42 per coin. But by January 2018, this had changed significantly, with the value of ETH reaching $1,360. It fell below $1k again and stayed there until January 2021 before reaching a new high of over $4,000 by May of the same year. In November 2021, ETH reached an all-time high at almost $5k.
Ethereum Price Prediction
When spending some time researching whether or not you should invest in Ethereum, it’s important to bear in mind that you should always take any price predictions that you find as speculation, particularly when it comes to long-term predictions as the market is highly volatile and things can change quickly and unexpectedly when it comes to the value of any cryptocurrency. Price predictions tend to be based on technical analysis, with experts studying the variables of trends from the past, future, and present.
Utility of Ethereum
Ether is one of the original cryptocurrencies on the market, and has long been the top altcoin, and one of the biggest Bitcoin rivals out there. So, it’s no surprise that ETH is often one of the first cryptocurrencies that investors decide to add to their portfolios. Along with this, it has a much higher utility in comparison with Bitcoin, making it easier to spend and utilize. The technology behind Ethereum is used in everything from DeFi apps to NFTs and business blockchain solutions. Ether, the native token of Ethereum, is one of the most valuable cryptocurrencies available today.
How to Buy ETH
If you are interested in Ether and Ethereum then the best and easiest option for buying it is through a cryptocurrency exchange. Exchanges are typically easy to sign up for and get started on, and many offer mobile apps that can be downloaded to your smartphone so that you can easily invest on the go. You will be able to purchase Ether and other cryptocurrencies using a payment method that you are familiar with such as a debit or credit card, or via bank transfer by depositing into the exchange and trading your fiat currency for ETH. You can also use an exchange to purchase ETH using another cryptocurrency like Bitcoin or Litecoin.
If you’re new to cryptocurrency investments or want to diversify your crypto portfolio, then ETH is a great option to start with.
Photo by Nenad Novaković on Unsplash
