Bitcoin is the undisputed king of cryptocurrencies. Ethereum is a global effort to create a virtual currency alternative. With its heavier focus on providing flexibility for the smart contract environment.
What is Ethereum?
In essence, a smart contract is an application that runs exactly as it was programmed without any tampering. It also lacks the potential interference of third parties. Ethereum is a decentralized platform that runs smart contracts.
This is a unique platform that allows you to create applications that are accessible from anywhere in the world, while also controlling money.
As a result, developers can create markets, store registries of debts or promises, and move funds in accordance with instructions given long in the past. In the future, we may be able to do things that we can’t even imagine yet, without middlemen or counterparties.
Ethereum’s Price History
In Ethereum’s early days, its price was lower than $1. By the end of 2015, it had risen to $0.43. In 2016, Ethereum’s price rose to $14. This is an increase of more than 3,000% in just one year!
Ethereum’s price then fell back down to around $8 in early 2017. However, by the end of the year, it had risen back up to almost $800! This is an increase of over 9,000% in just one year.
2018 was a tough year for cryptocurrency prices, and Ethereum was no exception. It started the year at around $750 and fell to below $100 by the end of the year.
2019 has been a much better year for Ethereum so far. Its price has risen from around $100 at the start of the year to over $250 currently. This is an increase of over 150% already this year!
It seems like Ethereum’s price could continue to rise in the future, especially if more people start using it and its technology continues to be developed further. Who knows? Perhaps one day it will be worth more than Bitcoin!
Comparing Ethereum to Bitcoin
Among the world’s most popular cryptocurrencies, Bitcoin and Ethereum stand out. While Bitcoin is the pioneer of cryptocurrency, Ethereum is the second-largest by market capitalization.
When it comes to comparing Ethereum to Bitcoin, there are a few key differences. First, Ethereum has a much faster transaction speed than Bitcoin. Second, Ethereum offers smart contracts, which allow for more complex transactions than Bitcoin. Lastly, the total supply of Ethereum is higher than that of Bitcoin.
Investors often debate which cryptocurrency is a better investment. While both have their pros and cons, Ethereum may be a more appealing investment option due to its faster transaction speed and smart contracts.
Why Is ETH Rising in Value?
ETH is rising in value for a variety of reasons.
One reason is that ETH is faster and more scalable than BTC. This makes it attractive to businesses and developers who want to use blockchain technology for its speed and efficiency.
Another reason is that ETH has a much wider range of applications than BTC. This makes it more useful and valuable to users and investors.
Finally, ETH has a strong community backing it, which gives it additional support and stability.
I hope you have learned a lot from this article on Ethereum’s price and its potential to get richer than Bitcoin. As evidenced by its current trajectory, Ethereum is certainly on its way to overtaking Bitcoin in terms of market capitalization. For anyone who is interested in investing in cryptocurrencies, Ethereum is definitely one to watch out for.
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