Post
Topic
Board Altcoin Discussion
Re: Should I hold Ethereum or sell it?
by
Yatsan
on 11/08/2024, 05:49:58 UTC
I hold some ethereum, but currently the price of ethereum coin has dropped a lot, I bought ethereum at $3000, now it's down to $2500. Is the price of Ethereum likely to increase?

Well as you know the bullish price of Ether or any cryptocurrency is pretty difficult due to the natural volatility of the market. Many factors can affect whether the price of Ethereum can further increase. Market dynamics, including all sentiments, regulatory changes, and technological developments, play an important role in the crypto space. As I have read somewhere (forgot the exact post), Ethereum’s transition to Ethereum 2.0, aimed at increasing scalability and reducing energy consumption, could have a positive impact on its price if the upgrade is successful along with the regulatory environment that matters. Favorable regulation or increased institutional accreditation can raise prices, while restrictive policies can have the opposite effect. From what I know, prices increase due to investor sentiment and speculative trading following positive news or celebrity endorsements for example of this i think is memecoin. On the other hand, broader economic factors such as inflation and interest rates might have had a huge effect on the prices of cryptocurrencies because most of the investors or traders make use of technical analysis to foresee the movement of prices using historical data (tho this isn't always reliable in its ways because investments in cryptocurrency are very risky and volatile). It can't hurt to diversify your portfolio to stay on top of the market trends or buys bitcoin too if you have enough money. Plus points for consulting here with the community, that's a good start.