The spring is here for Ethereum investors! The second most popular cryptocurrency has managed to break the $750 mark after being down for more than two months.
It’s no secret that the smart contract-based crypto coin has been on the low since it’s January record high of more than $1,200. However, those were the good old days, when Bitcoin and all other altcoins experienced a massive boost in value.
Since then, the cryptocurrency winter has settled in, and for the most part, coins were on a downward spiral. For example, Bitcoin’s value went from almost $20,000 in December 2017 to as low as $6,500 earlier this April. This is one of the most severe drops. Another hard plunge was Ethereum. This coin went from close to $1,200 to $380 in just four months.
Ether was up against some heavy adversities, mostly coming from governments looking to regulate the cryptocurrency market. Earlier this year, the USA lawmakers and regulators launched a full-scale war against Initial Coin Offering (ICO) campaigns. Their chaotic nature and fraud-ridden track record attracted the attention of regulatory bodies worldwide. And Ethereum was probably hit the hardest because of this.
You see, many ICOs are based on Ethereum’s smart contracts technology, and regardless if they are developing new-technology startup or just an Ethereum gambling platform, some governments decided to ban them. One of the reasons why Ether’s value went as low as $380 was this.
However, things seem to be going for the better now, as ETH has been over $750 for the last couple of days. Whether it will reach the all-time high of $1,200 or not, it’s hard to tell. But for now, these numbers please Ethereum investors.