RATE Group | Zero to $100k What Do Experts Think?
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Zero to $100k What Do Experts Think?

08 Jan Zero to $100k What Do Experts Think?

Posted at 11:33h in Ethereum News by

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2019 was a huge year for Ethereum in terms of development achievements and the growing popularity of its market-reigning decentralized applications, or dApps.

On the year, though, this traction didn’t translate to major changes in the price of ether (ETH), the commodity “gas” of the Ethereum blockchain. ETH rose only two percent, from $140.82 USD to $143.89, between January 1st, 2019, and January 1st, 2020.

No shortage of ether proponents guessed the price would have risen more in that span, and other skeptics thought the second-largest cryptocurrency by market capitalization would have bled out further. So why was 2019 a sideways year for ETH?

There were many contributing factors, to be sure, but one was that many crypto investors acutely sought refuge in bitcoin (BTC).

After the cryptoeconomy last peaked in December 2017 and then experienced deep and repeated selloffs throughout 2018, many investors rebalanced their portfolios in 2019 to larger positions in bitcoin, as BTC has…

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