Finance gurus have spent much time pouring over past facts and market trends to release accurate Ethereum price analysis. Ethereum currently sits in 2nd spot just below their infamous competition, the Bitcoin. Their total market cap value is now sitting at $20.04 Billion USD, giving investors a solid asset for their portfolio.
How Ethereum Has Reacted Lately in The Market
Ethereum has shown significant volatility in the 1st quarter of 2020 with its market movement. With a low start in January, Ethereum jumped considerably in mid-February but then dropped dramatically only a month later. Since then, Ethereum has slowly climbed up, gaining ground with a positive upswing giving investors hope for a positive Q2.
The Q2 movements of Ethereum in 2019 were stable, and investors were hopeful for the same progress in 2020. But given the recent economic downturn, Ethereum may not produce the same results this next quarter. More importantly, investors should also consider the worldwide economy in 2020 doesn’t measure up to 2019. Many outside factors need to be considered when coming up with Ethereum price analysis for the future.
Considerations for Price Predictions
The Ethereum price analysis process can be easier than you may think if you approach it correctly. Taking into account historical market trends and economic factors, you can create an educated guess on the future for Ethereum. Predictions should be created with essential background knowledge to help you make future investment choices that are beneficial. Examining several elements like the worldwide economy and how the financial market is moving can give you indications.
One major facet monopolizing the world markets today is the current pandemic that is putting stress on numerous industries. When multiple industries suffer, the economy begins to decline rapidly, causing a domino effect everywhere. Taking this into consideration, the price of oil and gas around the world today has plummeted as a result. The cryptocurrency market which has typically remained consistent though this has begun to act dynamically, creating some concern for investors.
What is in Store for Ethereum?
Ethereum has been around since 2015 and made tremendous headway in the digital finance market since that time. Known as one of the major players in cryptocurrency, Ethereum price analysis are abundant on many financial blogs and websites. As one of the key competitors in the crypto market, it’s essential to keep abreast of market movement and trends. Investing in digital currencies is just like investing in stocks or bonds or other tangible assets. Regular examination and analysis of how the market is responding are essential for growth and security in your portfolio.
How Ethereum will react in the next quarter is anyone’s guess, unfortunately. There are Ethereum price analysis reports stating it will remain strong and rebound quickly, while others are more conservative. No matter what is on blogs or websites, be sure to do your research before making any investing decisions. Diversity is vital when it comes to building your portfolio, and Ethereum could help you achieve that.