The price of Ethereum (ETH) has seen an increase of about 66% in just one week as a sign of the return of the bulls?

Ethereum (ETH) was one of the largest gainers in the top 10. Ethereum rose from as low as $ 83 to $ 138 in a few days. This is a price increase of over 66%. There is only one virtual currency that has grown more than Ethereum, Bitcoin Cash (BCH), with an increase of 140% over the last 7 days.

Some analysts We suggest that Ethereum has experienced such growth due to the fact that there have been a record number of short films on major crypto trading platforms such as BitMEX or Bitfinex. Users believed it Ethereum he was going to fall even further. However, this did not happen. Indeed, with the recovery of the market, several short-term contracts were closed. This allowed the price to continue growing faster than other businesses.

Although it has grown substantially over the past few days, virtual currency remains over 90% below its all-time high. Again in January Bitcoin it was trading close to $ 1,400. There are other virtual currencies that have lost more than 95% and others have already disappeared.

In addition, in November, the US Securities and Exchange Commission (SEC) announced enforcement actions against two Initial Coin Offerings (ICOs). These ICOs must pay a fine of $ 250,000 and return the funds they have raised to investors.

From the beginning of the year, virtual currencies have been in a bear market. Bitcoin, the largest cryptocurrency, fell more than 82% from its record high in December 2017. At the moment, it seems that these activities are trying to recover from the bear market that has hit the entire sector.

According to the cryptocurrency trader The Crypto Dog, Bitcoin could be traded between $ 4000 and $ 4,500. This level mentioned by the trader can be considered a great resistance. Also, he explained that he could go even higher and reach $ 5,400, but no more than $ 6,300.

In the last days, most of the virtual currencies on the market have been able to recover part of their lost value between November and December. Joseph Lubin, the co-founder of Ethereum and founder of ConsenSys, explained that the market has already hit the bottom in 2018.