Cryptocurrencies have been making headlines and garnering attention around the world recently. However, the market is highly volatile. Just a few months back, the cryptocurrencies witnessed a surge, while recently, they are having a tough time. Ethereum, one of the cryptos popular alongside Bitcoin and Dogecoin, reached its peak of around $4,200 a few weeks ago but plummeted by over 40% last week. While Ether is the name of the token, Ethereum is the blockchain technology that is used behind this particular cryptocurrency. It’s not possible for the investor to invest directly in Ethereum, but one can purchase Ether just like they buy other cryptocurrencies.
This high volatility has made the investors think if investing in Ethereum is a good investment decision for the long term. Considering the present low price of Ethereum, it could be a smart move to place your bet on this, as it will help you get more coins for your money, and you would probably reap a good profit whenever the price bounces back.
- Consumes less energy
The disadvantage of Ether is that it is not as widely accepted as other cryptocurrencies like Bitcoin. However, Ethereum is more energy-efficient than Bitcoin. Ethereum 2.0 is expected to come later in 2021, which would be around 99.95% less energy-consuming than the current technology used to mine it, claims the developers of this crypto.
- Extremely volatile
All the cryptocurrencies are highly volatile. One should assess the risk tolerance before investing in any cryptocurrency. In 2018, the price of Ether plummeted by more than 90%. Though there was a bounce back after that, there is no guarantee it will always recover after a drop in price.
- Real-world utility
The success of any cryptocurrency over the long term depends on its utility in the real world. While Bitcoin is widely popular because of its real-world acceptance, Ethereum is not. However, it is a major player in the blockchain industry and has a different potential.
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