If You Bought $10 Worth of Ethereum 5 Years Ago, Here’s How Much You’d Have Today
Feeling a twinge of regret for ignoring the crypto market until now? These numbers aren’t going to make you feel any better.
Cryptocurrency is booming right now, and it seems to be all anyone in finance wants to talk about.
Those of us who are just starting to pay attention now are probably kicking ourselves for ignoring the opportunity years ago – when it would have been much cheaper to dip our toes in the water.
How much was ETH worth 5 years ago?
Ethereum is a decentralized blockchain (a database of cryptocurrency transactions). It supports thousands of cryptocurrencies and NFTs, including its native coin, Ether (ETH). It’s the second-largest cryptocurrency, after Bitcoin.
According to Coindesk historical data, the price of ETH five years ago (on April 12, 2016) was $7.10 for one coin. If you bought $10 worth of the currency, you’d have 1.4 ETH. ($10 divided by $7.10 is 1.4.)
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How much is ETH worth today?
The price of Ether as of April 12, 2021 is $2,144.42 for one coin. That’s 302 times the price five years ago – about 30,000% growth!
If you bought $10 of ETH 5 years ago, here’s how much you’d have today
Growth like that is too phenomenal for most of us to fathom, so we’ll do the math for you. If you bought $10 worth of Ethereum five years ago, you’d have about $3,020 today ($10 x 302). That’s not exactly retirement money, but it’s not bad for a $10 buy-in.
For anyone who saw the potential in cryptocurrency back then and did want to bet an early retirement on it, they could probably have reached that goal with an investment of about $4,100. Five years ago, $4,139 worth of Ethereum, left untouched, would be about $1.25 million today, enough to support $50,000 in annual living expenses for the next 25 years.
Is Ethereum a good investment now?
Like many other cryptocurrencies, Ethereum is having a moment right now. Its value is soaring – up 1,224% from a year ago, and almost constantly rising in value since fall of 2020.
So does that make it a good investment?
If your reason for investing in cryptocurrency is to get rich quickly, it’s not a good investment – no investment is if that’s your motivation. No investment comes with guaranteed returns, and crypto is more volatile than any other market.
All of cryptocurrency is just over a decade old, and Ethereum has been around for less than six years. Even though we’ve seen phenomenal jumps in value in that time, we’ve also seen significant drops. And the market doesn’t have enough history – like the traditional stock market – to figure out whether it stands to stabilize and yield positive returns in the long run.
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Folks who’ve earned thousands or millions of dollars in returns with the currency made big bets years ago and got lucky. Crypto investment is best for money you’re willing and able to lose – because your financial future can’t depend on luck.
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Move over, Bitcoin. Ethereum is at an all-time high
New York (CNN Business) Bitcoin prices continued their rebound Saturday, rising about 6% to nearly $58,000. But the world’s largest cryptocurrency has been overshadowed lately by its younger sibling, Ethereum.
Ethereum, or ether for short, hit a new record high Saturday of just over $2,900. Ether prices have nearly quadrupled in 2021, soaring 290%. Bitcoin has had a great run too this year, doubling in value.
Bitcoin’s XBT The total value of all Ethereum in circulation is now about $333 billion, according to CoinMarketCap market value is nearly $1.1 trillion.
Tesla TSLA MicroStrategy MSTR Square SQ PayPal PYPL Bitcoin has soared this year in part due to increased adoption from corporate America. Musk’sand software firmhave bought bitcoin to hold on their balance sheets. Digital payments giantsandare letting users buy, sell and hold crypto, too.
Four Reason’s Ethereum Is Going To $4,200
April 30, 2021 4 min read
This story originally appeared on MarketBeat
Ethereum $3,000 Is A Stone’s Throw Away
Now that Ethereum (CRYPTO: ETH) is trading at a new all-time high and above the $2,700 level, the question is how high will it go? The simple answer is much, much higher but there are some concrete targets investors, speculators, and traders can target. The very first and most obvious is based on Bitcoin. Ethereum and Bitcoin tend to track each other with Bitcoin leading the way and Bitcoin has far outpaced ETH over the past year. In fact, based on Bitcoin’s 200% increase since it cleared the 2018 high, we think Ethereum should already be trading near $4,200 but that will come in time.
#1 - The Berlin Hardfork Came And Went Without Pause -
The Berlin Hardfork went live on April 15th with hardly a ripple in the market. The fork introduced 4 new EIPs (Ethereum Improvement Protocols) that have been in the works for at least two years. The protocols do a number of things to address gas prices (the cost of using the Ethereum network) including limiting fees for some types of transactions and introducing new transaction types. The updates are the precursor for another EIP hard fork scheduled for later this year, an update that will have a far-reaching impact on ETH availability and pricing.
The London Hardfork will introduce EIP 1559 to the network and seriously cut down on gas fees. The EIP not only takes control of setting fees but will burn or permanently “lose” a portion of each fee once it’s collected. This will work to reduce fees and increase traffic, arguably increasing net earnings for miners, while also reducing the supply of Ether. We think it is a win-win but not everyone in the Ethereum community agrees with us.
#2 - Ethereum Gas Prices Are Already Falling
One of the biggest hurdles for the Ethereum network and its users is gas prices. The fees for transactions have been steadily rising on the force of rising demand and the fact miners are allowed to prioritize higher-paying users over others. The gas price for a transaction hit a high last year and held those levels well into 2021 but that situation is already changing. The price of gas spiked shortly after the Berlin hard fork but has since fallen to the lowest levels in nearly a year. If this trend continues it should help attract more users to the network, users that have been turning to other blockchains because of high prices.
- Ethereum Gains Market Share
Even with the high cost of gas, Ethereum has been gaining market share. The best way to view that is via the market dominance or market cap of the cryptocurrency market. Bitcoin has long been the leader and that is not likely to change soon but it has been losing share over the past year. Bitcoin is losing share not only to Ethereum but to the rise of Defi tokens but let’s focus on Ethereum. Ethereum hit a low point in regards to market share early in 2020 and has seen a steady rise since. This rise is in correlation with several key events including multiple hard-forks and EIPs introductions and doubled ETH’s market share from about 7.5% to nearly 15% today. We expect this trend to continue.
- The Charts, Ethereum Is In The Lead Now
Not only is the chart of Ethereum very bullish, but it shows Ethereum is now leading the market. The price of Bitcoin may be trading at higher level relative to past highs but its price is in consolidation, it is trading below the 30-day moving average, and the indicators are still iffy. Ethereum, on the other hand, is trading at a new high, is trading well above the 30-day moving average, and has bullish indicators. If we were going to bet on one or the other making a strong move higher it would be on Ethereum.
Our first target for major resistance is near $3,350. We get that by projecting the magnitude of the latest rally from the current point of consolidation. Once that target is reached the $4,000 to $4,200 range (200% upside from the 2018 all-time high) comes into view and may be reached before the London hard-fork goes live in July.
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