The last time we have seen Ethereum above the value of 300$ was months back, in August. Up from the point, Ethereum only went down, having the latest market trend sending it towards a rebound.
The current state in the market suggests that the cryptocurrencies are going through a mass recovery although at a different pace of growth when compared to each other.
Ethereum, for instance, managed to get to the value of 217$ in November, starting out at 199$ at the beginning of the month.
Based on its latest performance during the past week, ETH is obviously showing signs of recovery, but can it go further from this point on or will Ethereum fall.
Or will Ethereum rise by Xmas, driven by the holiday hype?
Can Ethereum Rise by Christmas? Will the Xmas Hype Affect ETH in a Positive Way?
Ethereum has been dipping for quite some time. The things seem to have gotten so concerning regarding the price of the second largest cryptocurrency that even the founder of ETH and Ethereum, Vitalik Buterin, stated that he wouldn’t be surprised if ETH would touch 0$.
Whichever the reason for such negative prediction from the first man of Ethereum, ETH is showing a healthy progress in the market during the past seven days.
Starting out from 199$ on November 1st, Ethereum is traded at 217$ only 6 days later, which provides some hope that Ethereum might rise by December 25th on Christmas.
The crypto even touched a new low of 177$ back in the first weeks of September, which was the lowest ETH dropped in a long time.
Ethereum (ETH) Price Today – BTC / USD
Back in December 25th, 2017, Ethereum was traded at the price of 721$ picking up a bullish trend in November 2017. From that point on, Ethereum continues to rise in a progressive pace of growth towards touching its all-time high of almost 1,400$ at the beginning of January.
However, Ethereum is still far from its record price, but with a good chance of rising up to break the resistance of 220$ and potentially set the next price goal.
What to Expect from Ethereum (ETH) in December 2018?
Ethereum dropped almost by -85% since making it to its record price, also losing over -26% of its value in the last period of 365 days.
Things are not looking quite well compared to the last year’s progress, however, Ethereum is still showing signs of recovery thanks to this week’s positive market trends, rising from 199$ to 217$ in only six days.
Based on its current pace of growth and 10% of gains during the course of the last week, Ethereum now has a solid good chance for a strong rebound by Christmas.
However, the biggest driving wheel of the potentially massive rise for ETH would be finally getting to the long expected integration of a solution that would provide more scalability to Ethereum network.
In case Ethereum would be able to validate far more transactions than 15 per one second, the rise of the second largest currency would most possibly become inevitable.