It has been a tough couple months for Cryptocurrencies the world over, with many stating that the end is nigh, for this dream of a couple of disenfranchised developers. However, with the recent ruling by the SEC stating that Cryptocurrency’s such as Bitcoin and Ethereum are most certainly not masquerading as financial securities and instead may continue to go on as before, the validity of the claim that they are simply a ‘fad’ is waning. This is true regardless of whether you look to the rampant success of crypto startups such as CoinBase and Ripple, or if you look at the way that Blockchain and Cryptocurrencies are being integrated en mass in countries such as Switzerland.
The Reality Of Ethereum
Even with all of my chirping about the strength of Cryptocurrencies and Blockchain technologies position within today’s world as a sure piece of society going forward, a certain glaring fact cannot be ignored. What is this glaring fact? Well, the market performance has been extraordinarily lackluster. But even in the darkest of days, things must eventually take a turn for the better, we at least we hope they will, and it seems the hope for Ethereum has paid off.
The results of an analysis are in, and Ethereum is currently on a high; the Cryptocurrency has made gains of over 15% since its starting drop in early June. Also, Ethereum is quickly moving towards the breakpoint that will help to push the Cryptocurrency over the past few months growth hurdle. While analysts were very quick to expose the fact that exponential growth could very likely occur, the effect of the matter is that Ethereum will have to first move past its monthly starting value to make any real strides towards increasing its trading value.
Technical Breakdown Of Ethereum’s Movements
To break it down even further, here are a couple of necessary insights if you are looking to further invest in Ethereum today. Firstly, the trading value of Ethereum made an abrupt turn during the week, settling in around base support that the currency is still riding on from September 2017’s figures. At present, the market value of Ethereum is still hanging around within the ballpark of a downward-facing split.
While that all seems rather technical, what you need to know is this Ethereum is entering a long-phase, with over 92% of all traders being identified as in for the long haul and the market is thought to be climbing into a bear stage. Overall, the long-phase investors have risen from 0.9% in just twenty-four hours and are up 2.7% when compared with last week’s figures. While on the other hand, investors who are only in for a short period have fallen by 6.9% since yesterday.
A Word Of Caution
However, it is important to note that this is a mixed bucket, while there is plenty of evidence to suggest that this is a bear market, one must also note that short-phase investors rose by 4.3% from the previous week. Therefore, there is still an element of uncertainty, however, when is anything in life ever fully confident. Are you going to be investing in ETH soon, and if so, what do you think of the recent predictions by analysts on the Cryptocurrency’s performance?
