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Ethereum Price: Uptrend Continues as $215 Looms Near

A lot of interesting things are happening in the cryptocurrency world right now. Most of the top currencies face minor setbacks, although the Ethereum price seemingly continues its uptrend which began yesterday. Thanks to another small gain, the price is vastly approaching the $215 mark again.

Ethereum Price Bucks a Negative Trend

It is quite interesting to see how often the cryptocurrency price momentum tends to change in this day and age. For the most of 2018, all cryptocurrencies have gone down at the same time. Although that is largely happening again today, the Ethereum price is one interesting exception in this regard. It is still in the green, whereas all currencies near it in terms of market cap are in the low to mid red.

Considering how the Bitcoin price is going down, it is not entirely uncommon for Ethereum to note some small gains over BTC in the past 24 hours. More specifically, there is a 3.48% increase in the ETH/BTC ratio, which has not been too common throughout 02018. There is also a strong 3.25% uptrend in USD value, which is partially caused by the gains over Bitcoin.

This current Ethereum price trend seems to oppose the overall prediction a lot of experts hared in the past two weeks. Some people claimed the Ethereum price would go a slow as $140, although that has not materialized just yet. It is still possible something like that happen, although the current trend seems to paint a different story. Whether or not a near 50% drop can occur after this uptrend, is difficult to predict.

One thing possible influencing a new Ethereum price dip is the massive amounts of ETH being sold off by ICO projects. According to Richard Heart, EOS has liquidated most of its 654,000 ETH raised during their year-long crowdsale. It is possible a significant stake has been liquidated, although it remains to be seen how much money is still in play. This type of speculation can trigger another small dip, albeit it seems the dip is pretty much over, for now.

In more positive news, the BitPanda exchange has made a rather interesting announcement. The platform introduces full ERC20 functionality for select tokens. Although this has nothing to do with ETH directly, it may get some more people to exchange Ether to these tokens rather than dump Ether on exchanges. An interesting development regardless, although it may not introduce too many changes.

As is always the case in the cryptocurrency world, things are subject to change first and foremost. In the case of the Ethereum price, things can always change, even though the current trend seems rather bullish. If it keeps up for a while, an eventual price point of $250 will become more realistic. Weekends usually offer interesting trading behavior, and this week will be no different.

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Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

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