Home / Ethereum / Hardere by Ethereum Constantinople: a prominent cryptocurrency analyst states that the updating of Constantinople will light a bullish rise

Hardere by Ethereum Constantinople: a prominent cryptocurrency analyst states that the updating of Constantinople will light a bullish rise

Frozen ethereum
In the last 12 months, the cryptocurrency market has been stuck in a downward channel. The price of all cryptocurrencies starting from BTC decreased significantly compared to the USD. In fact, Ethereum has suffered more than many other cryptocurrencies in the market, falling by 92% from the beginning of the year. During the last days, he was able to recover from $ 81 to $ 150. Although the cryptocurrency has gone a lot in recent months, the future is bright according to Alex Krüger.

Ethereum (ETH) has a bright future

Alex Kruger, a cryptocurrency analyst, said that the update of Ethereum Constantinople will change the game for Ethereum. This long-awaited update is going to reduce blocking premiums and decrease the creation of ETH supplies. From his official Twitter page, he wrote:

"The Ethereum Constantinople fork will arrive on the 7080000 block on January 16, 2019. The block premiums will be reduced to 2 ETHs In the long run, this will be bullish for ETH."

Price Ethereum (ETH) today – BTC / USD

According to him, the bull that ran with ETH recently, even when the BTC was falling, may have been caused by the gallows of Constantinople. When the date of release of Constantinople was determined, the price of Eth rose slightly, but subsequently fell against the USD. He said the price increase could also be related to the request for a cryptocurrency fund from the co-founder of Ethereum, Joseph Lubin.

He insisted that other network updates were made on Ethereum and each had a different effect on the price of the currency. Therefore, it is difficult to predict what will happen in the future when the next update will decrease. According to Krüger, after the Constantinople fork, the Minereum miners who pay more than $ 0.075 per unit for electricity will work at a loss if the price of ETH is around $ 155. Small-scale miners they will run at a loss, but there will still be miners who will not care about the profits and keep up with the market even when that happens.

In recent days, one of the hot topics in the Ethereum community was Lubin's statement on a cryptocurrency fund. Lubin said the bear market lasted too long and the time has come for a recovery. Many critics put Lubin under fire after the news that his startup blockchain, ConsenSys, will fire around 50% to 60% of his staff.

Price analysis of Ethereum (ETH)

This morning, Ethereum (ETH) traded around $ 142 with a market capitalization of $ 14.79 billion. Although it has been able to trade higher by 75% since it hit the bottom, it is still down 90% from its all-time high. At the moment, ETH is trading at $ 128.84. This shows that it is up 0.13% on the USD and 0.39% on BTC. The trading volume over a 24-hour period is $ 2,993,389.283 and the market capitalization is $ 13,401,773.174. The next trading days will determine if the price action will change or not. For now, however, ETH is attempting a recovery.

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