Ethereum and Ethereum Classic
Ethereum is proving to be one of the cheapest technology investments of all time. Founded in 2015, it has grown by over 1,000% since then – in other words, Ethereum is an open source network, much more than just a digital currency. It is also traded under an index of cryptocurrencies.
Known as “Ether”, Ethereum could accelerate decentralization in the global economy and has the potential to impact many other industries. Ethereum is backed by a diverse group of 500 wealthy companies that met in 2016 to discuss the development of the Ethereum technology network and to join forces. The trading currency Ether can be volatile and serve as a financial asset for traders.
What is Ethereum (ETH)?
Ethereum (ETH) was founded and introduced to the world in 2013 by Vitalik Buterin and went live in July 2015. The developers were looking for a way to differentiate it and make it exclusive with features that would stand out in its own market.
They have developed a new approach with a new platform and a more general writing language. Its software allows customers to run any program, making the Ethereum blockchain and its application more efficient than before. Ethereum allows developers to create a new type of software called a “decentralized application”.
Ethereum and Ethereum Classic trading features
Short selling, or selling short, “sell high, buy low,” identifies a “short sale” that allows the trader to trade and profit when markets are falling and then take profits when they recover. In other words, short selling is driven by the belief that the price index will fall, allowing buybacks at a lower price to profit.
This allows you to open much larger positions with a minimum investment amount. It can magnify your potential wins while magnifying your losses.
Automated trading is the software that creates and submits automated orders to the forex market.
It can also offer social trading or copy trades to experienced traders with a proven track record.
Trading with AvaTrade means that the wallet is not needed by the trader, the trades are executed via our protected online trading platform despite our crypto system, this is a great advantage to avoid potential hacking and theft.
Ethereum Price and Market Factors:
It has been established that Ethereum can be more than just a digital currency. Its programming language value in the blockchain is great and is said to be solid. Its purpose is to be something completely different from all other coins. With the growth of its application, the demand for “Ether” from developers is increasing.
Ethereum price has been rising lately and has reached an all-time high. Bitcoin is also on the rise, and when that happens it increases investors’ desire to trade cryptocurrencies where profits can be made. Ethereum and Bitcoin are not competitors, and both can benefit if either of them goes up.
Random events that can affect the rise or fall of Ethereum price, such as the sudden and sharp fall in the value of Ethereum in general in June 2017. The news of Ethereum crash happened literally within a few seconds after a big sell-off that caused other traders to liquidate their digital currency. However, within seconds, the computer algorithms made the purchase again as the price recovered. As you can see, cryptocurrency volatility can change prices in a matter of seconds.
The general public and investors have the same questions about how this all happened, how this rebound is coming about, and the timeframe in which it’s happening. Any strong increase in value can eventually lead to a price correction, as in the case of the cryptocurrency market or any other market, and momentum can also slow down at some point.