Did you know that 58% of Americans are active investors? If you’re thinking about jumping into investing in cryptocurrency, you may be wondering which option is your best choice. That means taking the time to understand the performance of popular choices, like Ethereum.
Read on to learn the three things you should know about the ETH price history!
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1. The ETH Price Grew Steadily at First
When you look at the history of Ethereum, you’ll see that the price grew steadily, even in its first year. Ethereum began as a blockchain platform in 2015. At that time, the cost to buy Ethereum would have been less than $1.
To buy Ethereum in its early years was to bank on its capabilities as a preeminent blockchain technology. And many investors did. As a result, the price of ETH rose to several hundred dollars in the years following its release.
For instance, you could buy ETH for over $1,000 in 2018. But a year later, the price dropped to around $500.
2. Consider the Impact of NFTs
If you head back to 2021, that year marked a big moment for non-fungible tokens (NFTs). These digital files, which could feature artwork or videos, became in-demand purchases to trade. Once those digital files entered blockchain technology, they became secure items to trade and sell.
And if you wanted to buy or sell NFTs, you’d turn to ETH. That’s because the Ethereum blockchain became the most popular digital means for tracking NFT purchases and trades. In other words, Ethereum was in demand, too.
If you looked at the Ethereum price in 2021, you’d notice that it had neared $5,000. This is a huge ascent from Ethereum’s humble beginnings at $1. That’s because anyone who wanted to buy an NFT would first need a wallet with ETH.
3. Price Fluctuations Mark Recent Historical Trends
After the popularity of NFTs died down, price fluctuations became a more consistent reality. After rapid growth in the price of ETH to top a few thousand dollars, the price dipped.
Even so, the price still exceeds $1,000. Going forward, you can expect this price seesawing to continue.
Buying ETH comes with some risks, but also the possibility of great rewards. Ethereum joins Bitcoin as one of the most popular cryptocurrency options. This can make it seem like one of the more solid cryptocurrency investments.
While you wouldn’t want to budget all of your retirement investments in cryptocurrency, it’s shown considerable promise. This makes even a modest investment helpful.
Even if ETH goes down by 15%, for instance, you’ll be okay if it makes up a small part of your portfolio. And you’ll stand to gain big if it goes up by 15% in a day.
Learn About ETH Price History
Learning about ETH price history shows that there can be a great reward for investing in it. ETH saw a significant spike in interest and price as a result of NFTs. And even though its price has calmed down since then, it remains a solid cryptocurrency investment.
When you need more financial insights, check back for the latest news!