In line with historical trends and factors, it does seem that Ethereum may be getting ready for another spike in value. This would certainly see Ethereum take on some real value, giving investors a bit of much needed hope.
Overall, the markets look bleak, they have continued this way for some time now and thus, currencies like Ethereum have taken a bit of a hit.
At the time of writing, Ethereum is valued at $680.76, down 3.48%. By moving below $700.00, Ethereum may find it quite hard to make a significant comeback any time soon. Although, if you track back through Ethereum’s history, periods of downtime like this are usually followed by spikes in value, in line with similar movements as observed within Bitcoin.
Take this for example, on the 6th of April Ethereum was valued at $367.15, down from $866.46 just one month earlier. After this trough, just over two weeks later, we saw Ethereum valued at $693.77, before eventually moving up to $823.49. This marks a gain of just under $500.00 within a month.
Ethereum is riddled with many peaks and troughs, overall it looks to be a very unstable currency, given its market capitalisation and trading volume however, you can say that its stability is assured within it’s trader base, so to speak.
So what does this mean?
Well, if this historical record is accurate, we could expect Ethereum to rack up another $500.00 within a month, once this market decline surpasses. Likewise, Bitcoin does seem to promise the same movements. If we see Ethereum level out at around $700.00, a $500.00 increase will see Ethereum hit $1200.00. Obviously, the greater the value Ethereum racks up, the harder it will be to climb, but $500.00 at least provides us with a ball park rise figure, one which shouldn’t be ignored.
Please remember that this is speculation based. Of course, this is an estimation based on historical figures, however these figures tell a tale of a time when the climate was different, albeit only slightly. Either way though we can’t guarantee that Ethereum will make a $500.00 gain soon, frankly, it could be more than that! Remember though, it could also be less. Cryptocurrencies are volatile, trade safe and trade well.
Let’s see what happens here.