As many people stated already, the increase in digital currencies is mostly driven by the news. In addition for Ethereum in particular, many ICOs went online the last months and more are coming. The blockchain of Ethereum became the base for a number of start-ups, which will be in business later on this year.
The question is how they are going to perform and how they are going to be adapted by the public. The expectations are high and therefore the price of Ethereum rises enormously these days. It is a time, where nobody knows, if the price is over- or undervalued, as this kind of technology and its whole economical surrounding like the coins and ICOs are completly new. Established companies like IBM and Microsoft are adopting the blockchain of Ethereum for some of their projects. If Ethereum prove itself powerful for them and is being used by them and other established firms, accept this technology, there is nothing which can stop Ethereum from rising.
This is not a financial advise for investing into Ethereum. Everybody has to decide for themself, if they want to take the risk. But from my point of view it is a great opportunity for everybody and at the same time it is a new revolutionary technology, like Steemit, but different.
Lastly I want to say that this is just a thought about the current situation regarding Ethereum. In my opinion there is no right or wrong at this stage for the Ethereum price, as it is still relatively at the beginning of its business life cycle.
Let me know what you think and comment! ;)
I think it will increase further.
From what I've seen, recent news stories about Ethereum have pumped it up and I think there's supposed to be an announcement/"news story" next month.
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Agreed. Excitement seems to be building for ETH. It's going to climb a lot higher before we see any major downtrend.
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I knew there was a dot.com bubble in the late 90's when everyone at the office was talking up one new dot.com stock or another.
I knew there was a housing bubble in 2007 when I personally knew several people who quit their jobs to flip houses.
Most people have no clue what ethereum is or that it even exists. We're in the top of the first inning in a nine inning game. No bubble here, not yet.
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