Ethereum hits highest price in 5 months – What investors need to know

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Ethereum hit a 5-month high above $ 4,200 this week, the cryptocurrency’s highest level since May when it recorded a record price of $ 4,379, according to the Ethereum price tracker. from Coindesk.

The cryptocurrency traded below $ 10 from the all-time high on Thursday, with a surge to $ 4,370. The jump followed Bitcoin’s new high of $ 66,974 on Wednesday.

[READ MORE:] Ethereum: what you need to know before investing

The surge in crypto prices over the past few days follows the debut of the New York Stock Exchange’s first Bitcoin ETF on Tuesday morning. 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.

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