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October 5, 2022
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Ethereum reaches new all-time record

Between yesterday and today, the Ethereum (ETH) price registered its new record.

According to data from CoinMarketCap, the new Ethereum record is $ 1,567, while according to CoinGecko it is $ 1,565.

This is a significant increase over the previous record, as this is the first time that it exceeds $ 1,500.

Even during the big speculative bubble of late 2017 / early 2018, the price has always stayed below that limit, so yesterday’s record and today drives ETH’s price into totally unexplored areas.

In addition, it had been practically lateralizing around the $ 1,400 mark for more than a week, so yesterday’s increase should be considered definitely significant, although it is difficult to imagine how long it could last.

Ethereum’s path to a new ATH

Note that 2021 started at a price of around $ 750, so in just over a month it doubled. But the performance is even more surprising if we extend the comparison to the end of last year.

In early November 2020, the price was below $ 400, so today it is almost four times as high.

In fact, 2020 started at a price of $ 130, so in thirteen months, it has increased more than tenfold.

To be fair, after touching $ 1,400 in early January 2018 and then dropping to less than $ 100 in December of the same year, many analysts considered it to be significantly undervalued. In addition, many predicted that, like bitcoin, it could sooner or later return to the January 2018 highs and perhaps even exceed them.

After all, it was during the last big speculative bubble that the ETH price hit its biggest high about a month after BTC, and as the last bitcoin price record was set in early January 2021, it is not surprising that new ETH record should come about a month later.

However, this time everything looks very different from January 2018, so much so that it is not at all impossible for Ethereum to break new records in the coming days.

Although it is difficult to predict exactly how he will behave, and although the risk of a downturn is always possible, for the moment the feeling seems to remain positive.

Source: Cryptonomist

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