Ethereum hits new record!
Ethereum is also called the second bitcoin because the price of this coin hits a new record. It is the latest news of the Ethereum coin that is very popular nowadays. So in this article, we will discuss the trending status of the Ethereum coin. So without wasting time, let’s get started.
Ethereum is also a cryptocurrency coin like other coins such as bitcoin, Dogecoin, Bit Torrent, and many other coins. Ethereum is also a decentralized system like bitcoin, which means there is no control of any third party such as the Government, banks, and other financial institutions. Vitalik Buterin started Ethereum in 2013. The price was meager at the starting period of the coin, but now the price of the Ethereum coin hits a new record, and we will discuss the data chart of the Ethereum coin of this month to analyze the new hit record of this coin adequately.
Historical data of the Ethereum coin
There is the following historical data of the Ethereum coin of this month given blow. Have a glance look at the data so as you can find the pumping price:-
On 14 April 2021, Ethereum was open at $2,299.25 and closed at $2,445.40, and on 04 May 2021, the price was increased by $3,286.71. In 20 days, the price was increased by 986$, which was very high. You can suppose if you have had invested your $2,299 on 14 April and at the date of $3,286, that means you could be profited by $986, which is a very high amount of profit, but the case is not ended.
Current price that hits the new record
You have read the above data from the date 14 April to 04 May, and you could see the tremendous change in the price. But you will be amazed by reading the latest data that is so shocking. So there is the following data that hits the new record given below:-
Today’s price at the time of writing this article is $4,103, so you can compare this data with the previous data. It is the new record that Ethereum hits, and some people think this is the right time for investing in the Ethereum coin, and some people are thinking that the price will go down and that will be the right time for investing in this coin.
We cannot say anything about the future prediction about this coin, not even about this coin but about all the other cryptocurrencies because there is no correct prediction. If you want to check how trading works and want to earn money by investing in this coin and other alternative coins, you can go with Trading OX
Reason for pumping the price of recent Ethereum coin
Many factors affect the price of Ethereum like another alternative coin, and it all depends upon the supply and demand of the coin, even in other crypto coins cases. The rise in the Ethereum coin depends upon the latest news, and we will discuss in the next paragraph how the latest news helps to pump the Ethereum coin and how this coin hit the record in recent times.
The rise in the price and fall in the price depends upon the latest viral news as a meme by big social media influencers, and there are many articles related to the prediction of the Ethereum coin. Are people searching the keywords on the internet as a prediction of Ethereum? Future of Ethereum in 2021? Will, the price of Ethereum, go upto $10,000, and if the article looks like influencing and more sharing on social media, people will start buying Ethereum coins instantly. By increasing the demand for the Ethereum coin, the price will automatically increase.
So the more viral positive news about the Ethereum coin’s future or price, the more will be the coin’s value. If there will be any negative news that is so much get shared on the internet, people will start selling their Ethereum coins, and the price will automatically go fall. It is simply fundamental if you want to trade in cryptocurrencies. There is no prediction about the rise or fall in the price of any cryptocurrency, but it also depends on the market demand and supply.