- ETH is seen as a more attractive investment than bitcoin.
- On Nov. 10, the price of Ethereum surpassed $4,850.
The blockchain asset ETH is among the top three cryptocurrencies in the world. It had a fantastic year, with its price increasing by about 700 percent in the last year. It’s also outperformed Bitcoin, which has risen by just 177 percent in the last 12 months.
On Nov. 10, the price of Ethereum surpassed $4,850 for the first time in its history. This Saturday, the price of Ethereum has risen over $4,000, after Friday’s drop below $3,900.
Factors Behind Falling Prices
Falling prices result from new remarks from SEC Chairman Gary Gensler about cryptocurrency regulation and concerns over a new omicron variant of the coronavirus, along with the $1.2 trillion infrastructure bill signed by President Joe Biden last month that includes several crypto tax reporting provisions. There seem to be chances that the price of Ethereum will continue to fluctuate in the future, and experts’ advice to investors remains the same.
Decentralized apps and tokens like ICOs and NFTs can be operated on Ethereum since it is a smart contract platform. It is possible to buy and sell ETH on several active exchanges. ETH is seen as a more attractive investment than bitcoin because of the Ethereum Network’s wide range of development possibilities.
Ignore the excitement around new record highs or lows if you want to avoid being deceived. Be patient and long-term oriented, just as with conventional long-term investments. Investment in Ethereum (ETH) is increasing at an accelerating pace among many investors. Ethereum’s recent price surge does not signal a reduction in the currency’s turbulence.
