Today’s Price of Ethereum is at $213 and like all Other Cryptocurrencies is Expecting The Bull Run
Price of Ethereum keeps on bouncing like all other cryptocurrencies on the blockchain. Where is the bull run you might ask? I wish I knew the exact date and time, but unfortunately, I don’t have a crystal ball.
However, we can analyze together the markets and find out why the bull run is late. For a potential bull run, all the majority of major news must be overall positive. What do you guys think of the price of Ethereum? I will like to know from you in the comment section.
Fundamental news and constant talks on what wee achieved are very NECESSARY to push the price of Ethereum and other cryptocurrencies. Well, I don’t know about you, but it feels like even Vitalik Buterin seams to give up on his project. Or Did He!
Vitalik Buterin Claims in Recent Interviews that Cryptocurrencies and the Price of Ethereum might reach ZERO
He claims in some of his recent tweets that the price of Ethereum and other cryptocurrencies will not see a 1000 times growth again. For some of our readers, this might not be a surprise.
In V.Buterin’s own words:
“If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”
Price of Ethereum and all cryptocurrencies will start to rally if developers will work hard and fix the current problems within blockchain space.
Another concerning is the superficial awareness regarding the industry that alone is enough to make the price of Ethereum stagnate.
“Everyone invested in blockchain to become rich overnight and no one care about the technology.”
The “Naked” Truth Regarding Cryptocurrencies and the Price of Ethereum
Firstly, the blockchain was designed to create a decentralized space where we own our content and get rewarded for uploading it on the blockchain. The price of Ethereum spiked so much because more developers got involved and built their ICO on Ethereum platform.
The majority of coins and tokens are ERC-20 which means they are on Ethereum platform, therefore elevating the overall price of Ethereum.
Moreover, if the price of Ethereum drops all crypto build on the platform will drop in value. That is very concerning because coins and tokens can get to zero before the price of Ethereum.
The Naked Truth cryptos have grown so much because everyone wanted to invest in something different. With none or limited knowledge about blockchain, the majority invested to become rich fast. However, that’s not the case with the price of Ethereum and other cryptos since the technology is still young.
It will take years of research and development to make it work and finally shift to the ERA of the crypto economy
For the price of Ethereum and all cryptos to rise, developers need to come up with fresh ideas and updated working technologies. Blockchain needs an upgrade and it has to be done soon.
Luckily V. Buterin is working already on a blockchain upgrade and hopefully, we will see an increase in the price of Ethereum. He also said that a possible fix to the Ethereum capacity is still a prototype and most likely will solve the scaling problem.
In his own words:
“The main advantage of this new development is that the amount of data to be downloaded will be reduced significantly.”
Simply put, users won’t have to download the whole history and the only tasks to make some plasma coins. (Gas is required now to carry out the transaction and it will be replaced with plasma).
The course for users now is only to track the tokens that are created in that system.
Technical Analysis of the Price of Ethereum
There is no surprise that the price of Ethereum didn’t spiked. We are still in a bear market and I might not be possible to see a 1000 times return from any other cryptos this year. However, taking traded volume it is possible for the price of Ethereum to reach $400. Not bad in terms of traded volume, rewarding traders and investors with a 90% gain on the price of Ethereum.
In the past four months, the price of Ethereum didn’t drop below the support levels of $191. Similarly, the price of Ethereum has not penetrated the first level of resistance at $229 and second at $248. Market cap close to $22 billion and a volume close to $1,8 billion for the past 24 hours the price of Ethereum lost only -0,70%.
The conclusion is an easy one, not much volatility for the price of Ethereum, where the whole crypto space is waiting for the bull run.
Possible opportunities of 90% gains are still on the table and only time will tell when that will happen.
The possibility for a fast bull run depends only on fundamental news and blockchain upgrades.
Like always I wish you Happy Trading and Every Success!