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Crypto Analysts Short-Term Bullish On The Ethereum (ETH) Price
Just days ago, for previous reports from Ethereum World News, the market capitalization of Ether (ETH) surpassed that of XRP, as the asset The crypto asset has been taken on a large scale up to the point of view of the rally, but it continues to run into the near future, especially as exchanges, like OkEX and Binance, continue to overtly profess their support for the Constantinople hard fork.
For those who are unaware, the Constantinople will be a blockchain upgrade that will implement five improvement protocols into Ethereum's blockchain. Four are focusing on short-term scaling, while the other is centered around reducing. A leading cryptoanalyst, Alex Krüger, has claimed that in the long run, the so-called block reward "thirdening" will be "decidedly bullish."
Krüger has claimed that a breakout for Ethereum is "just inches away." He did not explain his prediction in full, but considering he expressed himself on Constantinople previously, his forecast likely has something to do with the impending hard fork.
In a sub-tweet, Kruger explained that the next line of resistance will be at $ 175 for Ether, $ 20 (13% higher) than current levels.
$ ETH breakout inches away.
– Alex Krüger 🇦🇷 (@Crypto_Macro) January 4, 2019
One of the analyst's peers in The Crypto Dog, a pseudonymous cryptocurrency trader that sports over one hundred thousand followers on Twitter, also echoed the bullish sentiment on the Ethereum price. The Crypto Dog wrote in a recent thread on the matter:
Hard fork shenanigans could certainly push this much, much higher, and
$ETH could break up on this push, but to me, an entry here is hard to justify. Just to be clear – I'm not bearish on$ETH right now, the$ETH /$USD chart is not exactly showing "weakness."
Through the medium of a recent Youtube video, Robert "Crypto Bobby" Paone, a growth advisor at Airswap, also claimed that he is bullish on Ether in the short-term. He explained that "the hype," as Bobby put it.
Paone went on to cite Travis Kling, the founder of the crypto hedge fund Ikigai, about the bullish outlook for Ethereum. Kling purportedly stated that there's a "potential bullish set-up" for ETH at the moment, as the supply of Ether will fall drastically with the implemented Constantinople upgrade, as established earlier this article.
Ethereum Developers Seek To Block ASICs
In related news, as first spotted by CoinDesk, Ethics, and developers that work on the network with "ProgPoW" protocol, that could go live within the next two to four months.
This protocol, which will be released independently of Constantinople or other "notable" network upgrades, has been lauded by Ethereum's developers, as they believe it will help the project move closer to activating Serenity, and all the byproducts that come with it.
Blue ETH Logo Title Image Courtesy of Descryptive.com via Flickr
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