Bitcoin is holding above $30,000 and people continue to pour into the market with their fiat money. But while the normies are focused on BTC, crypto veterans are looking at the altcoin market. Ether surpassed $1,000, reaching its greatest value since February 2018, and it’s not alone.
Litecoin also jumped, with LTC trading at 10% above last week’s numbers. And, though Ripple remains controversial, the XRP coin jumped 7%, trading at about 23 cents. This is despite the US SEC complaint against the company as promoting an unregistered security under XRP.
It’s very possible that Ethereum will reach, and surpass its previous all time high of around $1,400. Since the Ethereum 2.0 upgrade, it has been better, faster, and more secure. Since you can run apps on the ERC-20 platform, it can even serve as a decentralized internet, and as an option for DeFi, or Decentralized Finance. Its utility adds value, as does the momentum of the market thanks to the BTC surge.
So what’s next? Can ether hit $2,000? It’s possible. It’s also possible that millions of people will FOMO into the market and lose their life savings. So, be smart about where you put your money. If you want to take a shot on Ethereum, then put in whatever you’re prepared to lose, and be pleasantly surprised if its value skyrockets.