ETH Rises 5.1% at $1,788.6

Bitcoin is the world’s biggest and best-known cryptocurrency. It has gained enormous popularity for its promise to transfer monetary policy out of the hands of central banks and into an open-source, peer-to-peer system.

Like all currencies, bitcoin’s price is determined by buyers and sellers in a constantly fluctuating market. Its price per unit increases when the number of buyers exceeds the number of sellers or the circulating supply increases.

Cryptocurrency is also renowned for its ability to bounce back from adversity. Despite being written off by financial experts as a bubble in its early years, BTC has made countless comebacks. Whether it’s an unexpected drop in value or a government crackdown, Bitcoin has shown that it can recover from almost anything.

While many traders are still bearish on the crypto, some predict that BTC could be ready to turn bullish again. Rekt Capital, for instance, has noted that a weekly candle close above the previous multi-month downtrend would confirm a substantial shift in momentum. This could lead to a retest of the highs at $28,000.

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Ethereum – The world’s second-largest and most popular cryptocurrency

ETH rose 5.1% to $1,788.6 on Tuesday, adding $51.8 to its previous close. Its price is up 71% from the year’s low of $16,496 on Jan. 1. The price rise has been attributed to a surge in demand from hedge funds and private equity firms looking to buy the digital token.

Ethereum was created as a platform to support decentralized applications (dApps). It allows users to write code that controls digital values, runs precisely as programmed, and is accessible anywhere in the world. The Ethereum blockchain network also supports smart contracts, agreements between two parties that can be automatically executed.

A key feature of Ethereum is its transaction speed, which can be much faster than other cryptocurrencies. This has been a significant selling point for businesses using crypto.

The ETH USD chart offers several useful technical indicators to help traders decide when to buy and sell the currency. One of the most common is the moving average. The moving average is calculated by averaging the ETH USD price over a given time frame, then dividing that figure by the same period. Traders can also use an exponential moving average, giving more weight to recent prices.

While a rising price is an encouraging sign, it is essential to remember that cryptocurrencies are volatile assets and have been known to lose value very quickly. Therefore, if you plan on investing in them, it is essential to consider your financial situation and risk tolerance and consult an independent financial adviser if necessary. For further information, please visit the Finder cryptocurrency risk warning page.