Is Now The Best Time to Invest in Ethereum?
Ethereum is a decentralized, open-sourced blockchain invented and launched by Vitalik Buterin in 2015. A popular opinion is that Bitcoin and Ethereum are similar, but the critical difference is Ethereum allows developers to build and run decentralized apps and smart contracts. It’s essentially a software network tied to multiple industries, including decentralized finance and gaming.
The 2021 Report for Ethereum
On January 1, Ethereum opened with a price of $737.31. It jumped to $1,221.03 only seven days later. The price continued to fluctuate, but by April 20, Ethereum was trading for $2,297.03. The volatility was evident when Ethereum lost half its value in May and then rebounded, only to fall 20% in September. There were impressive highs and frustrating lows, but many Ethereum traders saw a 450% return by the end of the year. Let’s say you invested $500 into Ethereum at the beginning of the year and held despite volatility. At the end of the year, you would have gotten a return of $2750.
Will Ethereum Jump in 2022?
Ethereum started the year at $2,200 despite reaching a significant high of $4,800 in late 2021. It has slowly been climbing these past three months but hasn’t yet conquered the $3,000 mark. So the question is, how high will Ethereum go this year?
In mid-January, Finder gathered multiple financial experts to give their predictions for the future of crypto. Despite the media painting Ethereum as a poor investment choice, the panel was bullish on ETH and predicted an average price of $6,500 by the end of the year, with high estimates going as far as $12,000.
Nobody can pinpoint what will cause the price-hike, but most of the panel believes ETH’s move to a proof-of-stake model will be an essential factor. They also mentioned that this transition could add a lot of value to Ethereum.
Ethereum, like most cryptocurrencies, has high volatility, and prices can change in an instant. Despite this, Ethereums recent 50% climb has proven the panel to be correct on their predictions up until this point.
A lot of experts are advising to buy, while some are advising to hold what you have. Either way, if you choose to invest in Ethereum in 2022, there’s a chance you’ll receive a significant return.