Hello everyone. If there is a currency that has intrigued us all for a few months, it is the ETH! For my part, I have been interested in this currency since 2017. However, these last months have been particularly rich in emotions. The year 2020 is particularly interesting, we will analyze it.
Follow astronaut Ether on his journey through the cryptocurrency galaxy
Three, two, one take-off!
1) January to March, first jump to the moon
And yes, 2020 starts in force for our astronaut, cosmonaut, taikonaute or spaceman. In short, called it as you want. As of January 1, 2020, the price of the ETH has not yet reached 130€. However, very quickly, an uptrend will start.
On February 15, ETH reached €285.35 before going down slightly at the beginning of March around €215.00. ETH goes back a little in the following days up to €241.09. Why such a performance? The development of decentralized finance, the good news regarding the future release of ETH 2.0, the good health of bitcoin have pushed the prices of ETH up. A multitude of other factors are obviously to be taken into account, including elements exogenous to the cryptocurrency market. From March to June, psychological factors became inseparable from technico-economic factors in order to fully understand the evolution of ETH prices.
2) Mars, brutal atmospheric re-entry
The alarm buttons go off. That’s it, you go down to the ground. A descent that will hurt, very badly.
Our astronaut ETH is panicking, he’s not the only one. The world stock exchanges are in the red, the world understands that the coronavirus crisis will mark the decade. There is panic everywhere. On March 7, the price of the ETH goes from €241.09 to €107.25 on March 11. This time our astronaut will not go any lower, he has his feet on the ground. Very quickly the desire to leave his small planet is felt.
3) April Redecorating for the Moon
Such low prices have proven to be a golden opportunity for many investors to invest in the ETH. This is also the opinion of many individuals. Initially, however, this increase is timid at first. Many fear that we will fall even lower. But that will not happen. Gradually, ETH goes back to €131.35 at the end of March. But it is in the month of April that the ETH will come back in force to extract itself once again from the Earth’s atmosphere.
5 April, €142.60. On 18 April, €186.47. On 29 April, €214.59. The market is gradually gaining confidence.
4) May to July 20, Stellar Void Voyage
During this period, it is quiet. Once the earth’s atmosphere surpassed ETH travels between 215€ and 187€. The market was very stable and very quiet. A lot of people wonder if ETH has reached a price cap. But we can answer that question much later.
5) July 21 to August 5, on approach to the moon
The rapid development of decentralized finance followed by announcements on the release of ETH 2.0 pushes prices up. €235.62 on 21 July; €327.97 on 27 July; €387.35 on 1 August. On 5 August 2020, ETH passed the 400€ mark (€400.68). It is interesting to see that the ethereum classic did not seduce and did not bounce properly after the corronavirus crisis. For ETH, however, everything is fine!
6) From 5 to 10 August, return to Earth or new space flight?
That is obviously the question everyone is asking. There are a few possible answers that we can explore. The ETH to take off strongly (more than the bitcoin) but its health is very related to its big brother the BTC. If we do not have positive or negative fundamentals, we will have to seek to understand the future evolution of the ETH through elements like the strategy of investors on the short and medium term and closely monitor the health of Bitcoin.
However, I think that we will experience a period of calm regarding the prices of the ETH, it is quite possible that the situation becomes similar to what we experienced during the month of May and June. Obviously 400€ seems to be the current ceiling for ethereum and 370€ are minimum price. If the news is good, we could see a staircase emerging over the medium term. 1st march in April, 1st stage in May June, 2nd stage in July, 2nd stage in August, etc.
In the long run I insist on the very great importance that future advances, success or failure of ethereum version 2.0 will have on the prices. It is likely that before 2021, we would receive a lot of news on this subject. I will keep you informed of all the progress that will be made but also of the problems encountered. I would inform you of all this through articles on Publish0x.
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English is not my native language, if I make mistakes your comments will help me improve. Thank you in advance!