• Ethereum’s price is lagging behind other cryptocurrencies such as Bitcoin and Ripple, leading to the question if one should buy Ethereum despite its lack of momentum.
• Next week the Federal Reserve will set the monetary policy and a rate hike is expected. The market will be looking out for any dovish hints from Jerome Powell during his press conference, which could result in a new yearly high for Ethereum.
• Investors must consider the potential risks before investing in Ethereum or any other cryptocurrency as fortunes can be made (and lost) practically overnight.
Will Ethereum Make a New Yearly High?
Ethereum’s price has been lagging compared to rival cryptocurrencies such as Bitcoin and Ripple this year, with an increase of 58.37%, versus 81.86% and 137.53%, respectively. This leads investors to wonder whether they should buy Ethereum now or wait until it follows Bitcoin’s trend? With the US Federal Reserve meeting next week, investors must consider the potential risks before investing in Ethereum or any other cryptocurrency as fortunes can be made (and lost) practically overnight.
The Impact of The Federal Reserve Meeting
The upcoming meeting by Federal Reserve will have a significant impact on the US Dollar, with most analysts expecting them to raise rates again next week. However, traders will be listening closely for any dovish hints from Jerome Powell during his press conference that may suggest when the first rate cut could take place – which could potentially lead to a new yearly high for Ethereum if it follows Bitcoin’s path upwards .
Investing in cryptocurrencies comes with considerable risk due to its volatile nature; profits can be made (or lost) quickly depending on market movements and/or news events that affect its prices. Therefore it is important for investors to understand all possible risks involved before making any decisions regarding their investments in digital assets such as Etherum .
Price Performance of Cryptocurrencies YTD
Bitcoin gained 81.86% YTD while Ripple rose as much as 137.53%. Compared with these two however, Ethereum only managed an increase of 58.37%. This has caused some investors to pause and ponder whether they should buy into Etherium at this point or wait until it follows bitcoins trend?
Cryptocurrency markets are highly unpredictable so investors need to stay alert of any news events that may affect their investments – especially considering next weeks Federal Reserve meeting which may provide clues on where prices are headed next! Ultimately it is up to each investor’s discretion whether they decide to invest in Etherium now or wait until further evidence of growth emerges .