Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: Btceth01 on February 15, 2021, 04:59:49 PM
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One eth is now worth pretty much one ounce of gold for the first time, with ethereum just about at or above gold’s price.
Eth rose to as much as $1,877, with it trading for some time at $1,820 as the volatile currency oscillates.
An ounce of gold reached as much as $2,077 in August 2020, but now trades at $1,820.
Ethereum is very far from gold’s market cap which is estimated by some to be at around $20 trillion, with eth’s market cap currently at $200 billion.
It’s overtaking of gold’s price however is interesting because that’s what bitcoin did in 2017 ahead of its major bull run.
So giving some credence to the theory that ethereum is following bitcoin’s trajectory just one cycle behind.
Source url (https://cryptonews.net/469528/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)
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One eth is now worth pretty much one ounce of gold for the first time, with ethereum just about at or above gold’s price.
Eth rose to as much as $1,877, with it trading for some time at $1,820 as the volatile currency oscillates.
An ounce of gold reached as much as $2,077 in August 2020, but now trades at $1,820.
Ethereum is very far from gold’s market cap which is estimated by some to be at around $20 trillion, with eth’s market cap currently at $200 billion.
It’s overtaking of gold’s price however is interesting because that’s what bitcoin did in 2017 ahead of its major bull run.
So giving some credence to the theory that ethereum is following bitcoin’s trajectory just one cycle behind.
Source url (https://cryptonews.net/469528/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)
Well it is not really surprising. Ethereum will really tap the price as gold. But of course gold will continue to increase in price and it will sustain unlike Ethereum, it will surpass the price of gold at one time and can decline because of volatility.