Why is Ether Going Crazy?

Why is Ether Going Crazy?

By The Lynx | Crypto Lynx | 4 May 2021


What in the world is going on with Ether? It seems invincible right now. While Bitcoin season had huge rallies, there were also major down swings in between its upswings. This has been true of Ether until about a month ago. During Bitcoins recent up, deep down, and then moderate climb back up, Ether was quietly and steadily climbing until the last few days. Then it went crazy. It never had a major downturn. Now everyone is paying attention. To show how fast things are changing, look at the headline from CNBC just a few days ago:

“Ether, the world’s second-largest digital currency, surged to a fresh record of $2,800 on Thursday morning.”

https://www.cnbc.com/2021/04/29/bitcoin-btc-ethereum-eth-cryptocurrency-price-hits-record-high.html

This is old news. Less than a week later, on May 3, 2021, at one point was up 16% at $3442.

CoinBase Ethereum Chart

So what is happening? I have been paying attention. Right now, there is a parabolic upswing. A few weeks ago, I was watching a popular YouTuber who predicted this very thing. Bitcoin is strong. We all know that. It has not seen its peak for 2021. But short-term, he said that we need to put a lot of our assets into the main altcoins. Of course, he mentioned Ether, along with Algorand, Cosmos, and a few others. I am glad I listened to him.

Here is what is changing. Now that major players like a number billionaires and corporate giants and banks have bought positions in Bitcoin, many of them want to diversify their crypto portfolio. Ether is a natural second choice. A CNBC article pointed out:

“The European Investment Bank announced Wednesday that it had issued its first ever digital bond on the Ethereum blockchain, ether’s underlying network.... Institutions are now diversifying their exposure and Ethereum is the natural next pick.”

Another reason that Ether is doing so well relates to the growing popularity of NFTs, or nonfungible tokens. These digital assets represent ownership in games like Upland as well as rare virtual items like art and sports memorabilia. Of course, as most of you know, many of these NFT’s are based on the Ethereum blockchain.

It is interesting watching all of this unfold. I think that bloggers and crypto-enthusiasts may actually have the upper hand in the information game here. This is in contrast to decades of insider trading and Wall Street corruption. While most of us may not have the liquid assets to become trading whales overnight, we can grow our modest portfolios, and if patient, well-informed, and perhaps a bit lucky, make some serious profit.

Keep reading. Keep up with new movements in the crypto world. We are ahead of many of the big players, as far as information goes. If the recent past has anything to do with the future, we will probably already know the next big thing. If you think that you are too late to make money, I disagree. Think long term. 

As always, buy, sell, and exchange at your own risk. Invest in what you are willing to lose. No spare cash to invest? Check out these miners and faucets below. Some of them will give you a gift for using these links. I have been getting a few bucks deposited every week into my KuCoin account with the alien faucets. All of these are trusted sites and I have withdrawn money from each of them (other than the phone miners) with no hiccups. However, I would be wary of some of the advertisement links that promise you will make thousands a week if you just download their apps, lol.

The Lynx

 

Referral Links:

Wallets/Exchanges:

https://www.kucoin.com/ucenter/signup?rcode=rJEJW55

https://www.coinbase.com/join/snuffe_p

Phone Mining:

https://phoneum.io and use code: 677r73hc

Pi Network (minepi.com) and use RSnuffer

Bitcoin Faucet (any device):

http://www.cointiply.com/r/0j2x5 

https://freebitcoin.io/?ref=479594

Bitcoin Cash Faucet (mobile):

https://bitcoinaliens.com/?ref=3197372&game=7&pf=2

Litecoin Faucet (mobile):

https://bitcoinaliens.com/?ref=3123071&game=8&pf=2

 


The Lynx
The Lynx

A musician, artist, writer, hiker, gamer, avid reader, and crypto-enthusiast. I am a person always seeking for new ideas and pursuing the truth, wherever it leads.


Crypto Lynx
Crypto Lynx

This blog will inform and entertain. From the perspective of a professional writer and educator with many hobbies, I take a common sense approach to sharing advice and information. I am not a professional trader, but I do have experience. I am sharing my opinion; therefore, always buy, sell, and trade at your own risk. The information in this blog will be well-researched and factual to the best of my knowledge. Yet, what you do with this information is your decision.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.