Ethereum Missed the Opportunity to Make a Comeback! $2700 Is The Next Stop

Now, when Ethereum has missed the opportunity to make a comeback, what is the next step of the token?

The cryptocurrency market is often affected by many factors such as forecasts or political events. However, after several analyses and investigations, researchers and cryptocurrency analysts found that the price of cryptocurrency was mainly driven by the first cryptocurrency bitcoin. In 2022, all cryptocurrencies, including Ethereum, are facing a downward trend.

The cryptocurrency witnessed an all-time high in 2021, when the ETH token successfully crossed the resistance of $4000. However, Ethereum has been facing serious volatility since the market collapse in the fourth quarter of 2021. Investors hoped that the cryptocurrency would rebound sharply, but things did not develop as expected, because it was difficult for a token to cross the resistance of $3000. Since all cryptocurrencies are interrelated, it is a well-known fact that as long as BTC falls, ETH will fall, which should not be surprising.

Basically, it is well known that the return rate of Ethereum is higher than that of bitcoin, but now, with the upgrade of Ethereum postponed to the third quarter of 2022, experts predict that cryptocurrency will collapse soon and investors may suffer heavy losses!

According to coinmarketcap, the current valuation of bitcoin is about $36229 and that of Ethereum is about $2700. In the first week of April, bitcoin finally reached a breakthrough of $47000. Key indicators predict that cryptocurrency needs to exceed this position to break its bear market trend. The same is true of Ethereum. If bitcoin can overcome the resistance of $50000, ether is still likely to exceed at least $3500. But neither of these things happened. It seems that investors’ market sentiment is mainly looking for alternatives other than the two, or they may be shifting from digital assets to hard assets.

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What is Ethereum (ETH)?

Ethereum is a decentralized open-source blockchain system with its own cryptocurrency – Ethereum. As a platform for many other cryptocurrencies, ETH is also a platform for implementing decentralized smart contracts.

Ethereum was first described in the 2013 white paper by vitalik buterin. Buterin, along with other co founders, funded the project in an online public crowdfunding sale in the summer of 2014. The project team successfully raised US $18.3 million of bitcoin. Ethereum sold more than 60 million ethereums at a price of US $0.311 in the initial token issue (ICO). At the current Ethereum price, the return on investment (ROI) has exceeded 270%. Basically, the annual investment has almost tripled since the summer of 2014.

On July 30, 2015, Ethereum foundation officially launched the blockchain, a prototype code named “frontier”. Since then, there have been several network updates – “Constantinople” on February 28, 2019, “Istanbul” on December 8, 2019, “Moore glacier” on January 2, 2020, “Berlin” on April 14, 2021, and most recently “London” hard bifurcation on August 5, 2021.

Ethereum’s stated goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run anti censorship, downtime and fraud software.

So, Is Ethereum Worth Your Investment?

Ethereum is now in a fluctuating stage, so it is quite difficult to predict whether this cryptocurrency is worth investing. But if you are a person who likes to sail in the fluctuations of the cryptocurrency market, it may be your ship. According to experts, all major cryptocurrencies are expected to rise in the future.

Given their market dominance, it will certainly happen in the coming months, but the question is, when? Most investors are turning to other forms of investment, such as NFT, or traditional assets, but there is a growing trend to adopt Ethereum, so there seems to be only positive in the future!