Ethereum has just reached a new all-time high. Here’s what investors should do next
Ethereum hit a new all-time high on Tuesday morning when it broke above $ 4,500. The second largest crypto has now reached several new all-time highs in recent days after setting a new high for the first time in months on Friday.
Ethereum’s latest high comes just over a week after Bitcoin hit its new all-time high of $ 66,974, according to Coindesk’s Ethereum price tracker.
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The surge in crypto prices in recent days follows the launch of the New York Stock Exchange’s first Bitcoin ETF. Bitcoin and Ethereum – both crypto experts recommend investors stick with smaller coins – both saw price spikes after the ETF launched.
Despite Bitcoin and Ethereum price hikes, expert advice to investors remains the same.
What Should Ethereum Investors Do?
As with any long-term investment, experts advise ignoring the ups and downs. The latest high price doesn’t mean Ethereum’s volatility is gone.
“The real question is, will these coins continue to experience compound exponential growth? Nothing in the fundamentals of cryptocurrency tells me the answer is yes, ”says Jeremy Schnieder, the investment expert behind Personal Finance Club.
Because there is no guarantee that the value of a crypto will increase, experts advise never to invest more than 5% of your portfolio in cryptocurrency. Never invest at the risk of not meeting other financial goals, like paying off high-interest debt or saving for retirement.
If you’ve hit all of these criteria, the best thing you can do is ignore the hype around new highs or lows. As with traditional long-term investments, the best thing you can do is “settle it and forget it,” Humphrey Yang, the personal finance expert behind Humphrey Talks, told NextAdvisor.