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The End or the Revival of Ethereum

The End or the Revival of Ethereum

  • Ethereum is a public, open-source blockchain system established in 2015. While it is similar to bitcoin, they are both very unique in nature.
  • Earlier today it did fall to a low of 136 dollars but it was able to get some relief with a short-time support level that provides some backing and push to the price cost.
  • Historically speaking the nothing that Ethereum will see a larger downtrend is seen by the forty percent price decline during the negative quarters which would mean it could drop as low as a 108 dollars in the coming months.

Ethereum is a public, open-source blockchain system established in 2015. While it is similar to bitcoin, they are both very unique in nature. Bitcoin is a cryptocurrency hence is used as a method of payment. However, bitcoin is only a part of the blockchain technology.

Ethereum is something that is much wider in scope than cryptocurrency. The value of which keeps changing. It isn’t on the same high as bitcoin anymore. At its peak, it was worth fifteen hundred dollars per unit. Just like how bitcoin faced a drop-in price after skyrocketing to thousands of dollars eutherian faced a similar trajectory. 

It is speculated that Ethereum will fall in price more and see all-time low figures. This is based on the fact that it has faced for the fourth quarter of the year record losses which were unprecedented. At this point, it was trading at 9.87% down at the rate of 136.06$ which is a slow down from its previous peaks of about 160 dollars.

It has been shown to be on a downfall due to its consistent failure to break above 190 dollars earlier this month. More than noting the downward trend it is important to note that it has no shown any bullish signs from the time it was not accepted at 190 dollars which were claimed to be based on its similarity to bitcoin. 

Earlier today it did fall to a low of 136 dollars but it was able to get some relief with a short-time support level that provides some backing and push to the price cost. After all, everything is based on the demand and supply curve.

However, it is assumed and predicted that its current trend and macro-level movement analysis shows a movement towards an end which is due to its constant fall in prices to the extent it could hit as low as 126 dollars.

Although the drop stated might be a bit more pessimistic in nature it is important to note that it is still trading up from rates of 83 dollars that were staged in early December 2018. 

Historically speaking the nothing that Ethereum will see a larger downtrend is seen by the forty percent price decline during the negative quarters which would mean it could drop as low as a 108 dollars in the coming months.

This much is for sure by the end of this year the father of Ethereum will get much clearer as its drops may have a possibility of a comeback or bounce depending on market conditions but it would take some support to do this. If by the beginning of 2020 it doesn’t become bullish in a consistent manner then it might be the end of it. 

There are over thousands of blockchain networks registered which trade on a daily basis may be one sees its end and another sees its rise. However, the multi-use of this block-chain shows some promise of a bunce. The coming days will demonstrate the nature of this block-chain technology.

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About Steve Anderrson

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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

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