How Did Ethereum Take Over Ripple With 80% Gain in One Month?

[Lmaooo]

Over the past 30 days, the Ethereum price has risen from $83 to $150, by 80 percent against the U.S. dollar in a strong corrective rally.

On January 2, following a seven percent increase in its price, Ethereum (ETH) surpassed Ripple (XRP) to reclaim its throne as the second most valuable cryptocurrency in the global market.

How Did Ethereum Rise by 80% in 30 Days?

Two main factors have likely contributed to the short-term surge in the price of Ethereum in the past month: oversold conditions and the upcoming Constantinople fork.

From early November to mid-December, Ethereum experienced a steep decline in value as its price fell from $220 to $83. Despite its recent 80 percent climb, the asset is yet to achieve November levels and would still have to increase by an additional 46 percent to rise back to $220.

The market demonstrated oversold conditions subsequent to the sudden decline in the price of Ethereum from November to December, relieving sell-pressure on the crypto asset and allowing the asset to recover.

CCN | https://www.ccn.com/how-did-ethereum-take-over-ripple-with-80-gain-in-one-month/

[marksayson]

The main cause of it is the demand for using ethereum coin is rising again. After the fall of its price, its price went way below, but it doesn't stick to that way for a long time, it suddenly rises. We can see some big potential to this coin.

[BADBITCH]

Etherum did the simplest of things
Continued working on the supposed hardfork

The drop in price ensure in deaths of so many useless altcoins
After the useless token died off, then increase in demand for etherum occurred
That’s all

[bitkanu]

The main cause of it is the demand for using ethereum coin is rising again. After the fall of its price, its price went way below, but it doesn't stick to that way for a long time, it suddenly rises. We can see some big potential to this coin.

Especially if you are trying to consider when the block reward gets decrease and miners get less ethereum and then market will receive less supply of ethereum that will result in the decrease of the inflation. that looks the true story that gives a huge impact to the ethereum.

[kliown]

I think that the increase in the price of Ethereum was due to two reasons. The first reason is the market correction, and the second reason is the hype around Ethereum due to the imminent update.

[icalical]

This is not surprising though, however, if you are not knowing the latest news that Ethereum will have a hardfork on January 19th then you might be surprised, and you might have not buy Ethereum yet, so you better buy it before the fork really happen/not happen. Besides everything, this ethereum small bull run will be a little healing in this endless bear market.

[BitcoinHodler]

it is very misleading when you only look at the price of an altcoin like this after its recovery from a gigantic dump. the $150 is not a 80% rise instead $150 is a -90% drop!

and that is how you need to analyze the market by looking at the big picture not the small term misleading numbers. the price dropped about 95% and then it recovered 5% of that gigantic drop in the past month or so by going back up a little which was mostly because of bitcoin price rise + the upcoming fork hype that they are trying so hard to turn into a pump

[Suwycu]

Ethereum has come a long way from the end of last year to the present day, and I hope that its growth will not stop there!

[lifesgood10]

Let me just use the word, hard work

Because instead of worrying, etherum proceeded with the developments
The positive news and it brought about a deman for etherum

[ereborltc]

I think that if there is no good news coming, the price of ETH may fall after the hard fork. So don't hold too much hope, now try to wait for the opportunity.

[GregH37]

I believe  the biggest thing playing a role here is the upcoming fork. People love buying coins that are going to have a fork but with the hard fork there is just one coin coming out of it. The trouble here is that the new fork will allow people to stake ethereum which is amazing and people started buying ethereum as much as they can afford in order to stake it when the fork happens.

Not many people even keep their money on the exchanges, if you check the wallet withdraws from whale alerts twitter you will see an increase of ethereum withdrawn from one exchange to "unknown wallet" (which is their own wallet probably) hence it is really getting attention. Did the oversold fact really affected the price? Sure but I would assume about 100-110 would have been the correct recovery, rest of it comes because of the hard fork I believe.

[MonkeySlapFest]

Just lucky i guess!

[Orcunland]

There are some news about a hard fork which is going to happen on the Ethereum network. Also, no matter what Ethereum is still unworthy about the price, what am I trying to say is we can buy Ethereum at anytime.

[maxilopez]

the ethereum should soon have hardfork therefore it is quite logical that it so increased in price

[ynclksnr321]

Ethereum always has the potential to do better. However, the forks are also important in this period. Expectation could have raised the price slowly.

[tomahawk9]

Aside from the Constantinople fork, I think there's also a big factor that could explain the massive rise: the current conditions of the market. I wouldn't say we finally got rid of the bearish sentiment, but it does seem like things look a bit more positive as of today, we no longer have these recurring downward movements but we seem to be consolidating around some price ranges that might look appealing to to a lot of people. Overall, wouldn't be surprised if the prices goes up to $180 in a week or so.

[bellamente]

Ripple is a cheap and very promising coin. The volatility of it is very high, as well as the volume of daily trading.

I think that by the summer of 2019 Ripple will grow to 4-5 dollars

[Cashi]

And I'm sure this was not the final rise, ETH will gain more $ in price in the next weeks. I can imagine, that worthless Altcoins are sold and ETH is bought in critical times of a bear market. Who knows if a shitty altcoin will go up again, ETH is a safer harbour. Gain will continue.

Ripple is a cheap and very promising coin. The volatility of it is very high, as well as the volume of daily trading.

I think that by the summer of 2019 Ripple will grow to 4-5 dollars

Ripple is a big shitcoin because it has no real blockchain.

[cryptolidus]

ETH decreased a lot in last two months and it was expected to bounce back. The news for the development
upgrades in January have positive impact on the price. ETH is the most trusted platform  and the demand for
the coin is rising and further price increase is expected.

[xuv500]

Ethereum always has the potential to do better. However, the forks are also important in this period. Expectation could have raised the price slowly.

I agree with you ETH has strong potential to beat any coin like most of them aware about what happened in 2017 it over took BTC too. Yes the hard fork expectation might be the key factor for the changes in value.