Not too long ago, Ethereum (ETHE) was among the hottest cryptocurrencies in the market and had scaled historic highs multiple times in a matter of few days. However, the past week has been a tough one for the crypto space at large and like many other cryptocurrencies, Ethereum also experienced a massive selloff.
Earlier this month, Ethereum had scaled new highs and hit as much as $4300 per token. However, last week it collapsed and hit $1950 a token at one point following the selloff.
At this point, it is hovering around the $2500 a token mark. In this situation, many investors might be thinking about whether Ethereum can recover and if it might be the right time to get into it. However, even amidst the panic, it is necessary to remember that over the next year there are going to be considerable changes to the network that will usher in the Ethereum 2.0 era. That could eventually result in a turnaround in Ethereum.