The thing about cryptocurrency is that it is extremely volatile, and this is something that Bitcoin traders have been experiencing over the years. For short-term traders, this can be both an advantage and a disadvantage. For long-term traders, however, this might not make that much of a difference as the general census is that cryptocurrency is still going up.
Bitcoin and Ethereum Prices
Due to the growth that Bitcoin has had just recently, more people have been dipping into cryptocurrency. Just recently Reuters reported that the prices of Bitcoin have soared yet again to hit the $60,000 mark! While Bitcoin used to be affordable to most people starting at just cents per Bitcoin, the massive prices have made it almost impossible to invest in if traders or investors are planning to buy one bitcoin.
Ethereum is slowly catching up as the cryptocurrency has had quite a bullish streak reaching $2,200 which was its highest price ever, according to Yahoo. There is a divided opinion on the prices of Ethereum, however, as some believe its price to skyrocket while others think it will become bullish in a more mellow way.
Ethereum Price Prediction
In a Twitter post by Token State, the comment section was divided with opinions on how high would Ethereum actually go. While some believed that the prices of Ethereum would reach past $100,000 in 10 years, others noted that they would be happy if Ethereum could just reach at least $5,000 to $7,000.
Good chance in a bull run. 10 years $100K seems likely.— Token State (TokΞnizΞ ThΞ World ΞIP-1559) (@tokenstate) April 11, 2021
While the $5,000 to $7,000 growth seems more achievable due to the slower bullish rise of Ethereum, Bitcoin prices have shown that it is possible for prices of cryptocurrency to massively increase over the years. Ethereum is also believed to be a more stable cryptocurrency according to an article by FXempire.
I can bet it will not reach 10k. I wish. 5-7 is more realistic.— amandapite (@amandapite) April 11, 2021
Bitcoin and Ethereum Bullish
Of the charts--Bitcoin and Ethereum--the former shows a more volatile graph wherein prices could skyrocket then suddenly dip drastically in only a matter of seconds. With Ethereum, however, the bullish and bearish streaks aren't really as volatile in comparison to Bitcoin.
Basically, due to the mellow volatility of Ethereum, it is believed to be a safer cryptocurrency in which to invest. The problem with Bitcoin is that for those investing via trading platforms, especially those with low amounts, investments could be burned due to the relatively big spread that these platforms are charging.
There have been a lot of predictions regarding Bitcoin and Ethereum, and although some of them really did come true, others have been a hit and miss. While some believed that Bitcoin would really reach $60,000, others also thought that it would not technically reach that price. Now, almost everyone knows about cryptocurrency as popular individuals like Tesla CEO Elon Musk publicly talking about Bitcoin and his fondness of it.
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Written by Urian Buenconsejo