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It is not the weekend most cryptocurrency users have been looking for. An ongoing wave of bearish pressure. Even the Ethereum price is stuck in the red. Remains unclear for now.
Ethereum Price Continues to Decline
When the value of Bitcoin goes into the red, virtually all other markets will follow in quick succession. It is only normal the Ethereum value can not sustain its current level for very long. Following further losses in USD and BTC value, the future for this token remains somewhat questionable. Combined with the Constantinople fork delay.
Over the past 24 hours, there has been a very interesting Ethereum price trend. While the losses in ETH / BTC are kept to just 0.6%, it seems the USD ratio is going off the rails right now. With another 4.7% setback to contend with, it is evident the $ 120 level could not be sustained for long. It seems more likely the token will hit $ 115 fairly soon if this trend continues, we will never know what the future will hold.
On social media, all of the discussions pertaining to Ethereum are somewhat controversial as of right now. Thomas Pepperz is currently trying to get an attack on the Ethereum network. In the past few hours.
Here are the hourly attack cost rate for #Ethereum for the last three hours: $ 86.9K, $ 81.K, $ 80.1K.
Currently studying the relationship between #market cap, trade value, network activity, and the attack cost of diff sets of #cryptocurrency. #BTC #ETH #ethereum #cryptotrading pic.twitter.com/BbSEhkJNhS
– Thomas A. Pepperz (@ThomasPepperz) January 20, 2019
Rahul Bijlaney is not too happy with the current Ethereum momentum, which is only to be expected. As the price is below $ 120, the market can easily swing in either direction. If the value was to drop to $ 109 or lower for an anticipated period of time, this token may be very serious.
#ETH #Ethereum settles below 120.45
Not a good sign. A stay below $ 109 for 6 hours and one would like to book out.#cryptosignal #altcointrading #Altcoins #CryptoNews– Rahul Bijlaney (@RahulBijlaney) January 20, 2019
What is rather worrisome is how the number of active Volume, despite an increase in overall transfers. While these statistics are not problematic for Sunday.
#Ethereum daily overview
1. Active Wallets -5.96%
272077 Last | -17257 Chg.
2. Total transaction volume in USD -15.4%
320468302.96 Last | -58338534.49 Chg.
3. Amount of ETH Transactions + 4.22%
538899 Last | +21817 Chg.https: //t.co/bN0ocqZ01V#ETH #Analytics pic.twitter.com/0NFYI9YDie– COR Index (@CORIndex) January 20, 2019
It is evident the value of Ethereum is dropping because Bitcoin's price remains in the dirt. It seems very unlikely that it will change into the coming hours or even days. In the same time, one has to keep the right to market. How that will affect Ethereum's value, remains to be determined.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before buying or investing into any cryptocurrency.
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