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Although the market is still red at the knee, the loss has slowed in the last two hours. For Ethereum, it seems to have stabilized around the $ 127 position after the rebound from a $ 125 base position. As the next week approaches and the upcoming Constantinople sidewalk is approaching, there are some jitters around.
At the start of the next week, Ethereum is expected to suffer from the hard gallows of Constantinople – an update called rigid gallows. This event is expected to improve some key features on Ethereum. According to Vitalik Buterin, the next hard fork should make Ethereum more like Zcash.
Ethereum holders and enthusiasts seem to be very cautious about the upcoming fork fork of Constantinople and this could affect prices. According to some, the owners of Ethereum currently have a "cautious optimism". While everything should work smoothly on the Ethereum blockchain, one can not say what could go wrong. In anticipation of something wrong, some have decided to prepare for the worst and sell-off.
The fear of mentioning a hard fork is currently understandable, given the events that occurred in the recent fork of Bitcoin Cash. Some Ethereum enthusiasts fear that the hard blow can lead to disagreements and eventually a rift.
In 2016, such an event was witnessed when a DAO disagreement saw a split, creating Ethereum Classic.
Fortunately, the hard fork has received strong support from the major mining pools, making a division unlikely. Only miners can divide a blockchain and with most of them supporting the gallows of Constantinople, there is little chance of a division occurring.
After Ethereum ETH has suffered a decline of more than 16% from the last couple of days. For some, this was the time to sell out and avoid any risk and for others, it was a buying opportunity, ready to take advantage of the next week's hard fork. At the current price, Ethereum ETH desperately needs some good news and enthusiasts hope that this hard fork is the catalyst that brings ETH prices on the right track.
Bitcoin BTC Price Analysis
Bitcoin in the last 24 hours has hinted at a possible rally, exceeding $ 3,700. However, after meeting resistance, the cryptographic leader fell back below $ 3,700. At the time of the press, bitcoin traded for $ 3.599, marking a marginal decline. The $ 3,700 position remains the key objective of the currency if a recovery must remain viable.
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