Despite Dropping, Ethereum (ETH) is Bullish and May Even Be a Store of Value
Ethereum (ETH) prices drop 5.5 percent from $170
The development of Ethereum 2.0 will reinforce ETH
It’s Clear Skies to $12,000 After Bitcoin Breaks This One Key Level
Wednesday February 12, 2020
Bitcoin’s bulls are currently expressing extreme strength as they hold the crypto above the key $10,000 level, and it now appears that BTC is gearing up for its next major movement that could send...
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Despite competition and the threats of Binance Chain, Ethereum will leverage on their first mover advantage as a time-tested platform and recover. Besides, the promise of Ethereum 2.0 and implementation of EIP 1234 means scarcity and ETH holders would be the primary beneficiaries.
Ethereum Price Analysis
That Ethereum is enjoying a first-mover advantage in a field that is already crowding with competitors offering faster and cheaper alternatives is correct. Entrants like Tron, EOS and now Binance Chain may prove too “speedy or scalable” for a platform that is already grappling with scalability and dApps shifting camps thanks to VMs that are compatible with open source Ethereum.
Although plans are there to increase the throughput of the network via Shasper for example, similar platforms as Tron and EOS are operating with irresistible offers as well as a scalable network though with a tinge of centralization thanks to consensus algorithm deployed.
Even so, there is hope, and as Ethereum seek to migrate from a proof-of-work to a proof-of-stake system, the activation of Constantinople was at the back of consensus that mining rewards would fall from three to two in readiness of a freeze that will not only see rewards decrease but inflation drop to 0.5 percent during Serenity.
In the short-term, this may disadvantage or even dis-incentivize miners, but in the long-term, odds are, Ethereum (ETH) prices could soar thanks to scarcity—both in rewards and inflation, better placing the second most valuable coin as a perfect store of value with smart contracting capabilities, better than Bitcoin.
Bitcoin Volatility Near Record Lows as Price Explodes by 35% in 2020
Tuesday February 11, 2020
Bitcoin’s trademark price volatility is now near its record lows, according to data gathered by Skew. The crypto data analysis portal highlighted that the realized volatility of the BTC/USD pair dropped to 53 percent...
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1/ Why ETH is positioned to be a Store of Value (SoV)
It’s been said that ETH attracted temporary reservation demand and hoarding because investors needed a store of ETH to participate in the many ICO’s in 2017, but now that demand has dried up, dropping the price of ETH 90%.
— James Spediacci ⟠ (@JamesSpediacci) March 17, 2019
Central Banks’ “Free Money” is Behind Bitcoin Bull Run: Mati Greenspan
Tuesday February 11, 2020
A portion of fresh cash liquidity supplied by the global central banks has made its way into the bitcoin market, says Mati Greenspan, the founder of Quantum Economics. The prominent market analyst told BlockTV...
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Changing hands at $165 with a market cap of $17,372 million, Ethereum (ETH) is under pressure and cracking. It is down 5.5 percent in the last 24 hours. Even so, it is not as positive despite the coin trading within a bullish breakout pattern.
First, it is clear that sellers of Apr-11 are in control. That is so because, from an effort versus result point of view, buyers didn’t fully reverse losses of Apr-11. Besides, although trending above $170 in a bullish breakout pattern, accompanying volumes were low and prices didn’t rally above $190 confirming buyers of Apr-2 setting in motion the next wave of higher high propelling prices towards $250 as laid out in our last ETH/USD trade plan.
Even so, any drop below Apr-15 lows at $155 could see ETH collapse back to $135 or Apr-2 lows in a retest before trend resumption.
Average volumes stand at 181k in a bullish breakout pattern. Ideally, ETH buyers would be back in control if prices edge past $190 with high volumes exceeding 575k of Apr-2 or even Feb-24 at 880k in a bullish breakout pattern that will trigger participation as prices rally to $250.
Chart courtesy of Trading View
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