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The News Website for Glendale High School

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The News Website for Glendale High School

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Ethereum’s Big Price Change

This is the best time to invest in this cryptocurrency
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Ethereum is a cryptocurrency that is open-sourced on Blockchain. It is currently the second largest cryptocurrency by hold time, market cap, and price change. Throughout this year, Ethereum has been rising like never before, giving people the opportunity to get into the action. But with every rise there is a downfall.

Ethereum’s price skyrocketed to $4,500 from $2,800 in 2 days in the second week of May 2021. But the rise of the price couldn’t go on forever. A week afterwards, the price came right back down to lower than $2,300. This caused many people to lose a lot of money, but it also opened up new opportunities for people who had been waiting for a price drop. 

Currently it is a perfect time to buy Ethereum. It is not even close to it’s all-time high, which was $4,500, and it is expected to pass that value again later this year. Followed by the Ethereum rise and fall, Bitcoin did the same thing, which caused a huge flow in the market, because the two most popular cryptocurrencies are finally not staying around their all-time highs.

When cryptos stay around that level, you never know what will happen: it can crash like it did, or it can rise insanely. However, the problem is that not many people can predict the correct movement at any moment. 

Everyone who couldn’t invest before the Ethereum rise now has the perfect opportunity to do so. Ethereum doesn’t seem to ever crash as a whole, and this is because Ethereum runs on Blockchain. Ethereum is also now being used for online purchases, in places that accept cryptos for payment. 

Overall, Ethereum is worth buying and holding, because the current price is headed forward to a way bigger one in the months to come. This is only the beginning for Ethereum, and there are many predictions on the price reaching past $10k, which is completely crazy but possible, based on the way it is moving right now. 

Good luck out there, everyone!

About the Contributor
Davit Arakelian
Davit Arakelian, Staff Writer
Davit is a junior at Glendale High School. He is a member of the Construction Academy, and his interests include playing video games, watching Netflix, and playing sports.
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