It’s a familiar feeling, and one you’ll likely see again in the months ahead.
For many investors, it’s a sign of the times.
The world’s largest cryptocurrency, Ethereum, has risen to $5,400 per coin, a significant increase from the $4,200 it traded at on March 24.
It’s trading above $5K at the time of writing.
The rally is driven by an increased level of interest in cryptocurrency, said David H. Lee, co-founder of Blockchain Capital, a digital currency investment firm.
For investors, the opportunity is much greater now that there is more mainstream media interest in the tech-enabled crypto-currency.
The value of ether has gone up $100 billion since its March 24 high, according to the CoinDesk Price Index, a daily tracking of the price of the cryptocurrency.
That means that ether has more than doubled in value since its meteoric rise to $6,300 last month.
That’s the kind of volatility that could see the cryptocurrency bubble pop.
Lee said that if ether were to gain a larger share of the total market, that would trigger a price surge that would “take it to the stratosphere.”
“I think that’s where we’re at right now,” Lee said.
The cryptocurrency boom was fueled by an increase in demand for bitcoin, which is one of the most popular cryptocurrencies in the world.
Ethereum, which was first released in 2017, gained a significant share of its market share in 2017 as investors flocked to the technology’s decentralized, untraceable nature.
Since its inception, the cryptocurrency has experienced a massive surge in value.
The price of ether jumped more than 50 percent in 2017.
At the time that Lee said the cryptocurrency boom took off, there were no other cryptocurrencies that had the same kind of potential.
“When you look at Ethereum, it really has a huge opportunity and a lot of potential,” Lee told CNBC.
“There’s a lot more that it has to offer to a wider audience than just those who are bitcoin enthusiasts.”
“It’s not a question of if you’ll see a bubble, but when,” Lee added.
“It’s a question that we’re seeing right now.”
Read More:Ethereum’s rise was driven by the demand for the cryptocurrencyAs cryptocurrency prices continue to soar, investors may have a better idea of what to expect in the years ahead.
That could be a factor in how they allocate their money.
Lee believes that investors should focus on investing in cryptocurrencies that have more potential to grow.
“There’s not that much left for the bulls,” Lee noted.
“But there is a lot for the bears.
There’s a huge upside opportunity.”