The year 2019 has been off to a good start for the top cryptocurrencies. All major markets have recovered a lot of lost value in recent days. The Ethereum price now sits above $150 again after successfully reclaiming the #2 spot in the market cap rankings.
Ethereum Price Trend Continues
A very interesting trend has become apparent where Ethereum is concerned. In late December, the value per ETH has seemingly found a bottom and rose in value ever since. This ongoing upward momentum has spilled over to early 2019, as one ETH is currently valued at over $154. This is a price level most holders and enthusiasts are comfortable with after what occurred throughout 2018.
For a currency which dropped to $83 several weeks ago, these latest gains are a welcome sight. Even today, there is a 6.8% increase in USD value and a 4.6% gain over Bitcoin. It should, in theory, be a matter of time until one ETH is valued at 0.04 Bitcoin once again. That is still a long way removed from the all-time high ETH/BTC ratio, yet it is a valuable improvement nonetheless.
As one would come to expect, this current Ethereum price momentum triggers a bit of FOMO. Few people expected this price to reach $150 so quickly after dipping into the two-digit range. Cryptocurrencies are oddly resilient in that regard. For Kavishan, the next “ad revenue payment” can’t come soon enough, as this user is anxious to stock up on more ETH.
i hope my ad network pays me btc bit quickly Need to buy some #ETH
— Ayan (@ayantha_xD) January 3, 2019
One of the main selling points of Ethereum is the dApp landscape. All of these applications show off the potential of blockchain technology and smart contracts. Accessing these novel solutions remains a bit troublesome for novice users. As such, the idea of building an “app store” of sorts makes some sense. It would be contradictory to the decentralized nature of these applications, but in terms of discoverability, it may not be an unnecessary luxury.
— Domain Address Info (@DomainAddress4u) January 3, 2019
Gold & Crypto, a user on Twitter, seems to be keeping a close eye on this current market trend. Although the momentum shifted into bullish gear a few days ago, today may prove to be of a different caliber. Litecoin, Ethereum, and Bitcoin may very well see a brief correction in the hours to come. That isn’t necessarily something to be concerned about right now, yet it can cause some market shakeups in the process.
For Ethereum, remaining above $150 should not pose any significant issues for the foreseeable future. Even a brief dip would not necessarily trigger any panic, as there is a fair bit of support to keep that potential dip in check. A very strong trading volume of $3.3bn is also promising. Whether or not Ethereum will remain ahead of XRP in terms of market cap, is very difficult to predict. Both markets can one-up one another at this point.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.