Ethereum Price & Technical Analysis: ETH Still Being Weak

CoinSpeaker

Ethereum Price & Technical Analysis: ETH Still Being Weak

Ethereum is trying to recover after a selloff on Thu, Dec 6, trading at around $104.02, reports Dmitriy Gurkovskiy, Chief Analyst at RoboForex.

Ethereum Price & Technical Analysis: ETH Still Being Weak

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Ethereum Price Analysis: ETH/USD Price Risk Dropping Below $100

Latest Ethereum News
To mark the 558th of “Dies Academicus”, the University of Basel–which is one of the oldest universities in the world boosting alumni as Leonhard Euler, Daniel Bernoulli and Friedrich Miescher did award the co-Founder of Ethereum, Vitalik Buterin, with a Honorary Doctorate in Economics for “his contribution to promoting decentralization and equal participation in the digital revolution, as well as for his services on cryptocurrencies, smart contracts, and institutional design”.
Read: McAfee Unfazed After SEC Says Promoting ICO Without Disclosing Pay is Fraud
The Department of economics and Business recognize the impact of Vitalik’s contribution in the advancement of blockchain and the crypto industry. The 24 year old co-founder of Ethereum—the world’s first smart contracting platform–has published several scientifically sound papers without a university degree after dropping out of the University of Waterloo at 20 years old to pursue his blockchain passions.
Also Read: CoinBase COO: Crypto is Enabling the Creation of Internet 3.0
He went on to receive $100,000 under the Thiel Fellowship and two years later he went on to create Ethereum—a dApp building and a smart contracting platform where projects can create censorship resistant apps while projects can crowd fund from all and sundry without the need of tedious paperwork.
ETH/USD Price Analysis
Weekly Chart

At third, ETH/USD is still liquid though it is down 8.5 percent in the last week and down seven percent in the last day. As expected, the path of least resistance is clear mostly because of that whole bear bar that not only confirmed the bear breakout pattern set in motion by declines of early August but closed below $160 hinting of underlying bear momentum.
As stated in our previous ETH/USD price analysis, all we need are strong gains above $130 and $160 before we can confidently fade the current bear momentum and aim for $250 and later $300. From candlestick arrangement, it’s clear that bear momentum is strong and odds are we might see breaks below psychological $100.
If that undesirable meltdown prints, then we expect ETH to capitulate to $40 and in worst case scenario to $2.
Daily Chart

Ideally, what we would like to see is a solid confirmation of the three-bar bull reversal pattern of Nov 28. That, and as laid out in previous ETH/USD price analysis, could help lift prices above $130 and towards $160 in a retest phase of an overall bear breakout pattern.
However, yesterday’s seven percent loss could be exacerbating because if prices drop below $100 at the back of strong volumes then we could see bear resumption and it could be a drain that would push ETH back to $75, $50 and $1.
Therefore, because of this likely scenarios, we recommend holding a neutral stand until either prices edge above Nov 28 highs of $130 igniting aggressive traders aiming at $160 or dips below $100 in a trend resumption move.
All Charts Courtesy of Trading View
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
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Ethereum Price & Technical Analysis: No Positive News for ETH

CoinSpeaker

Ethereum Price & Technical Analysis: No Positive News for ETH

Ether is slightly moving down on Thu Nov 29, trading at $122.20, reports Dmitriy Gurkovsky, Chief Analyst at RoboForex.

Ethereum Price & Technical Analysis: No Positive News for ETH

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Ethereum Price Analysis: ETH/USD Trends of November 13–19, 2018

CoinSpeaker

Ethereum Price Analysis: ETH/USD Trends of November 13–19, 2018

Should the bulls gain enough momentum and break up the supply level of $227, Ethereum price will rally to the north and may have the supply level of $257 as its target.

Ethereum Price Analysis: ETH/USD Trends of November 13–19, 2018

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Crypto Volatility Woes Over? Bitcoin and Ethereum Stable for Over a Year

Word is, Bitcoin is the new stablecoin. Indeed it has, and behind this observation are solid metrics and research findings.
Recently, the Chicago Board Options Exchange (CBOE) released their findings demonstrating that Bitcoin volatility is lower than that of Amazon and a majority of FANG stocks. Bitcoin and similar digital assets are, or were, known to move by wide margins.
Low Volatility: CBOE and BVI Trackers
The CBOE clearly demonstrated that Bitcoin’s 20-day historical volatility had dropped to 31.5 percent and this was lower than that of Amazon (35 Percent), Netflix (52 percent), and a long list of other publicly traded stocks like Nvidia whose 20-day volatility stood at 40 percent.

 
 
 
 
 
 
 
 
 
 
 
 
Following this is the visible drop in standard deviation. According to MarketWatch, the standard deviation of Bitcoin dropped from $4,640 or around +/-42 percent in January to $475 or +/-7.3 percent in October.
Standard deviation is a measure of dispersion of price from the mean, and the higher the dispersion, the greater the standard deviation. As such, this finding clearly demonstrated that there is a taper in volatility as standard depreciation decreased by a factor of 10.
Coincidentally, this finding meshes well with statistics drawn from the Bitcoin Volatility Index. The Bitcoin Volatility Index (BVI) measures the standard deviation of daily returns within a 30-and 60-day window and the BVI is an indicator of volatility based on Bitcoin’s historical prices.

 
The BVI tracks the volatility of Bitcoin prices in USD and the latest 30-day estimate puts Bitcoin’s volatility at 1.50 percent while the 60-day estimate is at 2.05 percent. By comparison, the volatility of Gold stands at 1.20 percent and the average volatility of fiat oscillates between 0.5 percent to 1.0 percent during the same time frame.
Bitcoin is not the same coin whose prices are stable. Ethereum’s weekly volatility stands at 2.69 percent according to data from BitMex.

Ethereum $200 in May 2017Ethereum $200 in October 2018
Ethereum is the real stablecoin https://t.co/cfaO2mUoQj
— Joseph Young (@iamjosephyoung) October 28, 2018

Signs of a Bottoming Market?
Could this be an indication that Bitcoin is finally bottoming out. As we can see from the technical price charts, the BTC/USD pair has been moving within a larger $3,000 price range with clear support at $6,000. This level has been retested a record six times, but despite strong bear pressure, prices do recover and surge higher.

Besides the strong support at $6,000, it is visible that whenever prices print lower, the standard deviation decreases and the last 14 days has been characterized by a tight $350 trade range inside Oct 15 high lows. This raises more questions than answers: is this tapering volatility pointers to a maturing market or has the market finally shaken off speculators?

One thing that people are ignoring in this quiet market is the fact that, as of tomorrow, Bitcoin will have held $6,000 for over a year. That’s huge. It’s proving that bitcoin is functioning as a store of value.
— Nicholas Merten (@Nicholas_Merten) October 28, 2018

Charlie Morris, multi-asset head at Atlantic House Fund Management in London weighed in on the surprising volatility around Bitcoin’s price saying:
“It simply means the market is calm and in balance. That implies that speculative interest is low. Given this bear market is now 10 months old and is getting tired, I’d be inclined to be bullish for the next major move.”
Bubble Popped
Around this time last year, in a FOMO moment, people were simply not willing to let go of a chance that could see then double or even triple their Bitcoin investment in matter of days or weeks. An opportunity which would have taken years in traditional investments.
This buying wave increased volatility, hampering adoption, and were the hallmarks of a bubble which was well-observed by Angela Walch, a law professor at St. Mary’s University in Texas. Angela is an expert studying financial and cryptocurrency stability and in an interview with Vice she said:
“Some of the hallmarks to me involve the FOMO idea—the fear of missing out and never being able to get in. People see other people making a lot of money and they just want in on it. The housing bubble is a good example of that. People thought another person would always want to buy their house from them at a higher price.”
Now that the bubble has been popped, many project that the market will recover and trend within reasonable volatility encouraging market wide adoption. In turn this will benefit coin holders who are here for the long haul.
Featured image from Shutterstock.
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Ethereum Co-Founder: Blockchain Growth Based on Marketing is Hitting a Dead End

Ethereum co-founder Vitalik Buterin is of the opinion that the cryptocurrency market is unlikely to experience an explosive bullish rally similar to the one seen in late 2017 ever again. The ‘gold rush’ is in the past and now the average person is aware of blockchain and digital currencies, thus erasing the surprise element of last year.
Cryptocurrency Growth Based on Marketing is a Dead End Strategy
Vitalik Buterin, co-founder of Ethereum, was at an Ethereum and blockchain conference in Hong Kong when he told Bloomberg that opportunities for 1,000-times growth in the cryptocurrency market are no longer out there.
The blockchain community is at a new level of growth, which is based on the adoption of real applications by real people instead of spreading the word to new enthusiasts willing to invest in digital assets.
“The blockchain space is getting to the point where there’s a ceiling in sight. 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”, Buterin said as he explained that the blockchain community’s marketing strategy throughout the first six or seven years “is getting close to hitting a dead end.”
Now it is up to the blockchain ecosystem to strive to get people who are already interested in cryptocurrencies to be involved as consumers of blockchain products in real life. “Go from just people being interested in real applications of real economic activity”, he said.
Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system which enables developers to create all kinds of applications without a middleman or counterparty risk. The “next stage” Buterin talked about in the interview may eventually represent a bullish case for ETH if developers ‘en masse’ do decide to go with Ethereum to build their platforms. But the once innovative network is now facing increased competition.
While the real massified adoption of blockchain products is yet to occur, the price of Ethereum faces a bearish storm ever since capping around the $1,375 area in early 2018. In September, the cryptocurrency gave in to the downward pressure and lost the $300 handle. Ethereum is now trading just above $200 in a critical moment for the digital currency market.
“ETH shed another 4% on the day and is just below $220, a fall below $200 could be very bad for the world’s second largest crypto”, reports NewBTC. Bloomberg Intelligence commodity strategist Mike McGlone expects Ether to fall further to a support target of $155 “as it faces increasing competition, market volatility, and a maturing industry.”
Featured image from Shutterstock.
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Ethereum Plunged 15% Today to $305, What Will Happen to Alts and Tokens?

The price of Ether, the native cryptocurrency of Ethereum, has fallen by 15 percent in the last 24 hours to $305, as other major cryptocurrencies like EOS fell 13 percent.
Tokens have followed the price movement of Ethereum, EOS, Ripple, and other major cryptocurrencies, recording 10 to 20 percent losses against the US dollar. But, most tokens demonstrated intensified movements on the downside, with steeper drops.
What Has Caused the Drop to Materialize?
The vast majority of investors and analysts have struggled to offer specific reasons to support the sudden drop in the price of major cryptocurrencies on August 11. Some have pointed towards the Bitcoin exchange-traded fund (ETF) saga, but given that positive development and news in the cryptocurrency sector have barely impacted the cryptocurrency exchange market, it is highly unlikely that Bitcoin ETF-related news have led the market to fall.
Since February, Bitcoin has demonstrated a weird but an evident pattern. Bitcoin would plummet to $6,000, initiate a corrective rally, test the $10,000 resistance level, and fall back down to $6,000. In the past six months, Bitcoin has repeated this process three times, all within the range of $6,000 and $10,000 and on rare occasions, dipping below $6,000 and breaking above $10,000.
BTC price chart provided by Cryptowat.ch
It is entirely possible, following the findings of Tabb Group, that a market much bigger than the global cryptocurrency exchange market has continuously impacted the mid-term movement of BTC, specifically within the range of $6,000 to $10,000.
Researchers at Tabb Group have estimated the over-the-counter (OTC) market to be two to three-fold larger than the cryptocurrency exchange market, which is understandable given that large-scale investors do not trade digital assets in the exchange market due to its lack of liquidity.
Another interesting aspect of the recent price movement of BTC is that positive developments such as the entrance of the New York Stock Exchange, Microsoft, and Starbucks into the cryptocurrency sector have had minimal impact on the price trend of BTC.
Hence, it is plausible that past events such as the rejection of the Winklevoss Bitcoin ETF and the delay of the VanEck Bitcoin ETF really had no impact on the price but investors initiated a forced justification of the market to manufacture clarity in the opaque, volatile, and unstable cryptocurrency market.
Where Does Ethereum and Tokens Go?
In the past year, Bitcoin and Ether have tended to rise up and down in a similar manner, while Ripple, EOS, and tokens experienced similar movements.
However, since early August, every other cryptocurrency apart from Bitcoin have experienced intensified movements on the downside, due to the overly strong downtrend in the market.
If Ether continues to fall at this rate, regardless of its relatively strong performance against the US dollar in contrast to other top large cap cryptocurrencies in the past few months, tokens in the likes of Ontology, 0x, ICON, and VeChain will likely fall by substantially larger margins.
In consideration of the rapid increase in the dominance index of Bitcoin and the surge in the volume of US dollar-backed stablecoin Tether, in this period, investments in tokens and high-risk, high-return trades are likely not going to be worth the risk.
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