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Ethereum (ETH.X): will the bull run sustain?
After the market recovered from the US tax deadline, Ethereum's (ETH.X) price witnessed a continuous rise, reaching the level of $706 per coin.
This depicts strong signs of a bull run. For the latest price and news about Ethereum, please visit Finstead and type “ETH.X price” and “ETH.X news”.
The deadline for filing taxes in the US caused a huge sell-off of cryptocurrencies, causing Ethereum’s price drop. This is because crypto investors and speculators paid their capital gains taxes by raising money from cryptocurrency sales.
London Block Exchange has recorded a notable rise in cryptocurrency trading. It is being seriously considered by institutional investors (from hedge funds to pension funds). This remarkable rise in the Ethereum has left its creator Vitalik Buterin surprised as he had no long terms plans for its success.
Here are some developments you need to know about Ethereum:
- Higher volumes of complex smart contracts now can be supported by Ethereum scale through the use of a newly designed protocol.
- The security proofs implemented by the team enhanced the safety of Ethereum. This is because the security flaws are directly associated with the cryptocurrency's monetary value.
- There are chances that Ether would be classified as a security which would subject it to more rigorous regulatory inspection.
- There are plans to invest funds raised in space startup projects in the ether cryptocurrency.
No matter how alluring Ethereum may appear to you, investing in it is highly speculative. You may get a huge return, but also be prepared to lose all your money.
For further guidance on investing in cryptos, read the Finstead Bitcoin investment guide.
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