I only got into stocks, shares, crypto, and all that good stuff around 4 years ago so unfortunately, I did not make as much money as I could have if I had discovered it all sooner. Nevertheless, I have had some amazing results with crypto, especially Ethereum. Bitcoin was already very expensive when I first got into investing and after doing some research into different crypto, I decided to put my faith (and money) into Ethereum. To give you a short idea of what Ethereum actually is, it’s a technology that provides digital money and global payments to everyone from all around the world. Some say that digital money will take over the world one day, although others disagree with that. Despite differing opinions, one thing is for sure, and that is that Ethereum has seen amazing growth over the last few years but it has also come crashing down again. Crypto has taken quite a hit recently and Ethereum is now around $750 per share. If you are here, you might be wondering will Ethereum ever reach $10,000 again? While I am not an expert, I want to tell you about my experience with Ethereum and what I think the future could possibly hold for this gold mine.
I first bought some Ethereum in mid-late 2017 and I believe the price at that time was around $200 a share. The reason I decided to get into crypto was that I had money saved up and with the rate of inflation, I had been thinking about investing for a while. I put around $3000 into Ethereum, which got me 15 shares. I was really excited to see how the price would change over time and I got addicted to checking daily, which is probably not the best thing to do because of how volatile the market really is. There were highs and there were lows, at some points I wanted to cry and sell all I had, but I held strong. In February of 2018, Ethereum shot up to over 1000 bucks a share and I was shellshocked! $15,000 was a lot of money to me but I thought if it got to this point, how much higher could it get? I didn’t need the money immediately and I had always been a bit of a risk-taker so I decided to leave it in! After that high, Ethereum dropped and it did so with a vengeance, and for the next two years, it hovered between $100 – $200 a share. I cursed myself but left the money firmly where it was, hoping that it would go back up again eventually. And boy, did it! Throughout 2021 and 2022, Ethereum soared into the sky and brought me some amazing results.
Ethereum went from 1 grand, to 2 grand, to 3, and then 4! I didn’t even realize it at first because I had not checked my investment portfolio for a while but when I read an article on the crypto craze, I checked my balance and was pretty astounded to see $58,000 staring back at me! I have never seen so much money in one place before and although I was tempted to keep all the money in there, I sold 10 of my shares which netted me $40,000. I paid off some debts and also put a deposit down on a condo that I had been eyeing up for some time. I also just felt a huge weight has been lifted off my shoulders because I was more financially secure. Not long after I sold those shares, Ethereum came crashing down again, and here we are today, it is less than $1000 a share. Part of me wishes that I sold all my shares but I am still up from my initial investment and I definitely take comfort in that. But why exactly is it dropping and will Ethereum ever reach $1000 again? One thing to note about cryptocurrencies is that a lot of them seem to follow Bitcoin in their pattern and when Bitcoin drops, Ethereum in particular seems to follow. Bitcoin has also crashed and that is one reason why Ethereum is not far behind its big brother.
The biggest reason for the crypto crash however is the state of the economy all over the world at this moment in time. Prices are rising, inflation is crazy, interest rates are through the roof, and a lot of families are even struggling to just get through daily life. This means one thing, people are not investing right now, or a lot less than they used to, even the big investors and hedge fund managers have taken a step back and are more careful about where they put their money. Investing seems too much of a gamble in the times that we are living and there is no real big surprise about that. So you might be wondering what is my opinion on will Ethereum ever reach 1000 again? I think that it definitely will reach $1000 and beyond! I think it could very well be towards $10,000 one day but it will of course take time to get there.
The thing that we have learned from stock market crashes over time is that it ALWAYS recovers. It could take weeks, months, or years but life will get better and when it goes, investors will be freer with their crash again and this will make crypto rise. Although I am not a financial advisor by any means, I would tell anyone who had some spare cash lying around right now, to invest it into the crypto that you believe in. For an accurate converter and forecast tool for USB to ETH prices, check out the following link by clicking here.
Please keep in mind that you should only be investing money that you can afford to lose because nothing is set in stone. However, if you do invest in Ethereum right now, you could definitely be looking at a nice lump of money in the years to come.
