Ethereum’s Price Hits Record Highs
In mid-November of this year, cryptocurrency investors reported a “price surge” that saw the value of Ethereum go up to $400. Today, the value of Ethereum stands at double that, well above $900. While Ethereum hasn’t gotten the same amount of press that Bitcoin has, it’s been reaping major gains over the last couple of months, just as Bitcoin has. In fact, the price of Bitcoin may be responsible for the rapid gains of not only Ethereum but also Litecoin.
These three cryptocurrencies all happen to benefit from being part of digital exchange Coinbase. Coinbase has managed to revolutionize the ease at which your average investor, even a beginner to cryptocurrencies, can set up an account, deposit money, and begin buying and selling Bitcoin, Ethereum, and Litecoin. It also makes the process of liquidating those assets much easier.
While Bitcoin’s price entered December at around $10,000, and now entering January at closer to $16,000. What we’re seeing is an exponential rise in the value of these cryptocurrencies with every passing day breaking a new record.
To what extent Bitcoin is responsible for the rise in the value of Ethereum and Litecoin is debatable. What is not debatable is that there now exists an unprecedented amount of interest in blockchain and cryptocurrency technology, with new breakthroughs hitting the media every day. While many fear a bubble, major investors have made bold claims that the value of Bitcoin could exceed $500,000 by 2020, and Ethereum could surge above $1500.
Detractors claim that the anonymous nature of cryptocurrency makes it easier to fund untraceable criminal activity. But proponents say that moving currency away from the state and decentralizing the process is a good thing. As cryptocurrencies gain legitimacy, it’s unclear what state regulation and intervention could mean for the future of its trade. What is not unclear is blockchain and distributed ledger technology has completely changed the economic landscape of our world.
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