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Ethereum on its way to a New High? – eToro Comment
Iqbal Gandham, UK Managing Director at eToro, on the price of Ethereum:
“With most of the attention being given to Bitcoin recently, not many people will have noticed the steady rise of Ethereum to what could be a new high. It is currently trading at $297, making for a 10% gain in the last 24 hours and 50% since the start of the month. This is its highest price since the end of June, when the cryptocurrency reached $330 before crashing to $137 half way through July.
Investors’ attitude towards the coin over the coming hours and days will be a great case study. Some might want to realise profits shortly to avoid the losses they incurred during the last trading cycle, but looking at current trading sentiment on the eToro platform, the mood seems to be bullish, with 98 per cent of trades going long on the asset.”
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