The rise of Ethereum has been nothing short of meteoric.
In the space of just a few years, it has gone from being a little-known cryptocurrency to one of the most talked-about assets in the world.
And, as Ethereum’s price continues to surge, many are wondering if we are in the midst of a “bull run”.
So, is Ethereum on a bull run? Let’s take a look at the evidence.
Ethereum’s price has been on an upward trend for most of 2020
One of the most obvious signs that Ethereum is on a bull run is its price performance over the past year.
Since January 2020, Ethereum’s price has risen from around $130 to its current price of over $700. That’s an increase of over 400% in just 12 months.
NOTE: WARNING: The topic of “Is Ethereum on a Bull Run?” is highly speculative and should not be taken as investment advice. Investing in any type of cryptocurrency, such as Ethereum, is a high-risk endeavor and can result in the loss of all your funds. Before investing, be sure to thoroughly research the project and associated risks before making any decisions.
And, when you compare Ethereum’s price performance to that of other assets, it becomes even more clear that we are in the midst of a bull run. For example, Bitcoin’s price has only increased by around 60% over the same period.
Investor interest in Ethereum is at an all-time high
Another sign that Ethereum is on a bull run is the level of investor interest that we are seeing in the asset.
Data from Google Trends shows that searches for “Ethereum” are currently at an all-time high. This indicates that more people are interested in investing in Ethereum than ever before.
What’s more, data from Coinbase also shows that there has been a huge influx of new investors into the cryptocurrency space over the past year. In fact, Coinbase now has over 35 million registered users, which is up from just 13 million in early 2019.
Many believe that this influx of new investors is one of the key drivers behind Ethereum’s recent price surge. After all, as more people buy Ethereum, its price will naturally increase.
Ethereum’s fundamentals are strong and continue to improve
It’s not just investor interest that is driving Ethereum’s price higher – its underlying fundamentals are also very strong and continue to improve.
8 Related Question Answers Found
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is also a cryptocurrency, which can be used to pay for goods and services, or to trade like any other currency. The native currency of the Ethereum network is called ether.
Decentralized Autonomous Organizations (DAOs) are a new breed of online entity that are powered by Ethereum smart contracts. Unlike traditional online organizations, DAOs are not controlled by a single central authority, but instead they are run by a set of rules encoded on the Ethereum blockchain. This makes DAOs much more resistant to censorship and tampering than traditional online organizations.
When it comes to Ethereum, the big question on everyone’s mind is whether or not the network will be moving to a proof of stake model. Currently, Ethereum uses a proof of work model, which is the same model that Bitcoin uses. However, there are a few key differences between the two models.
Ethereum Forsage is a new, revolutionary way to earn cryptocurrency. It’s a decentralized, peer-to-peer system that allows anyone to earn crypto without having to put down any money upfront. All you need is a computer or smartphone and an internet connection.
When it comes to Ethereum, there is no question that it has had a roller coaster of a ride over the past year. The price of Ethereum reached an all-time high in January of 2018, only to crash down to around $100 by the end of the year. This was followed by a slight rebound in early 2019, before the price once again fell back down to around $100.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is a programmable blockchain. It means that people can use Ethereum to create their own decentralized applications.
As of late, Ethereum has been receiving a lot of attention in the cryptocurrency world. And for good reason! Ethereum is the second most popular cryptocurrency by market capitalization, right behind Bitcoin.
It’s been nearly three years since Ethereum’s creator, Vitalik Buterin, first proposed that the network move from a proof-of-work (PoW) consensus algorithm to a proof-of-stake (PoS) algorithm. Today, Ethereum is the largest decentralized application (dapp) platform in the world and the second largest blockchain by market capitalization. And although Ethereum has been incredibly successful so far, there’s still a long way to go before it can be considered a truly decentralized platform.
