Should You Buy Ethereum While It's Still Below $2,000?
For the year, Ethereum (CRYPTO: ETH) is up 45%. While that recent performance is impressive, there are still plenty of skeptics out there. After all, a a recent price of about $1,730, Ethereum is 64% below its all-time high of $4,892 from two years ago, and hasn't had the type of monster rally many investors were expecting when it completed The Merge, a system upgrade, last September.
In fact, Ethereum is trading at almost exactly the same price it was one year ago. And it has had unexpected difficulty breaking through the $2,000 price level. So is Ethereum undervalued or not? To answer that question, there are three important factors to consider.
Ethereum recently celebrated its eighth birthday, and it's fascinating to look back and see how far Ethereum has come in such a relatively short time. Ethereum has become the de facto benchmark standard that all other Layer-1 blockchains measure themselves against. There have been a large number of blockchains that have attempted to become "the next Ethereum" and failed -- and that list includes Cardano, Avalanche, and Solana.
Source Fool.com
