Ethereum has now become one of the first digital currencies to reach a new level at the start of the market's second quarter. This marks a huge milestone in the Ethereum market, as it reaffirms the asset's promising future, which has long been criticized by viewers.
With Ethereum's rise to $ 3000, the world's second-most-valued digital currency, it now has a greater market value than the bank of America, although Bitcoin was the first asset to reach this milestone.
Ethereum reaches new price levels, but naysayers are still not convinced
Contrary to the bullish sentiments shared by Ethereum backers, Crypto entrepreneur and investor Alistair Milne fears the asset is not strong enough to maintain this momentum. He argues that Ethereum's rapid rise could be temporary, as he expects the bulls to slow down in the short term correcting gains. He also expects Bitcoin to regain the spotlight when it hits $ 60.000 once again.
According to his tweets:
“ETH is going too fast now, expecting a temporary whiff and some much-needed humility to come back. BTC tops out again for a while once> $ 60.000. Only IMO ".
The $ 3 trip could be proof that Ethereum isn't moving too fast
ETH ended 2020 with a price of $ 737. The Ethereum bulls can be considered slow, but they are extremely consistent as they successfully pushed the asset to $ 1000 in the first week of January. However, Ether continued to stay within a range below $ 2000 as the bulls continued to add to the strength of the price movements.
Over the next two months, Ethereum sustained daily gains, albeit not the most significant. But the survival of the fittest game was actually played by the asset. In April, Ether hit $ 2000 for the first time. The bullish wave of altcoins had already become intense during this period and Ethereum has brought the market into a completely green state, at least this has been the case for most of the top 20 altcoins. After Ethereum's surge to $ 3000, we can now say that the asset has shot up 307,6% since December.
Ethereum may not be as talked about as bitcoin, but the institutional tide behind the asset is as commendable as bitcoin. Investors are also quietly adding the asset to their portfolios. Corporate treasuries are also not blind to the potential of the asset, as a large number of them have also accumulated Ether. The launch of EIP-1559 is one of the other significant events that could push Ethereum's price value to new heights.
If you want to invest in ETH, you can do it with platforms such as Bitcoin Pro, which allow you to speculate on the price of the asset, without actually owning it.
How is this possible? Simple, it connects to a broker and allows you to trade CFDs on ETH, BTC or other cryptocurrencies. By doing so, it is possible, but not safe, to earn both when the asset price rises and when it falls.