Ethereum stands second in the top cryptocurrencies of the crypto market. The position gained by ETH is due to the momentum of price. The coin is a high yielding investment plan and has never failed the trust of investors.
- Intraday chart embarks downtrend in Ethereum price.
- ETH coin indicates lose legs and thus cause recovery.
Last month, the entire market was suffering due to the price drop. There were only a few coins which could maintain themselves at the same level from where the month started. We are positive that the ETH coin would reflect and extraordinary movement. Let’s have a look at the ETH price chart.
ETH to USD Price Comparison:
The chart is taken from TradingView on 04th August 2019 at 06:40:17 UTC.
Yesterday, the Ethereum opened with a heavy upsurge. The coin started at $217.61 and jumped to $224.01 by 2.94%. The coin maintains itself at the level, but there was a drop in the middle of the day. The drop was of 1.21%. ETH price counters changed from $223.09 to $220.39. The intraday progression was of 2.28%. Today, the coin dropped by 2.21%. The currency slipped from $222.58 to $217.66.
Current Statistics of Ethereum:
|Market Cap||23,532,395,662 USD|
|24hr volume||5,159,040,864 USD|
|Circulating Supply||107,179,366 ETH|
Ethereum Price Prediction and Conclusion:
Ethereum price momentum has been reacting well since the beginning of the month. We are quite positive that August would bring a happy time for the investors. The intraday traders would also be seen booking profits from the altcoin market.
The long-term traders could swim in the ETH pool with a prospect of high profits. The currency is a result of giving investment. The coin is speculated to touch $500 by the end of 2019.
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.