Has Ethereum (ETH) finally found its true background?

Cryptographic space has seen many activities recently, and investors around the world have waited for Ethereum to finally reach a fund. After months of stability, the market crashed for the second time in 2018 on November 14, just before the BCH hard fork, and the downward trend lasted for over a month, when the situation finally changed. December 17.

Ethereum seems to stabilize

This was the time when the cryptocurrencies recorded a new price increase, which lasted for a whole week. While the value of Bitcoin grew by about $ 1,000, Ethereum managed to double nearly its previous value of $ 80. However, the wave ended soon and there was a price correction, bringing the ETH. at around $ 130, where apparently it stabilized.

Now, traders and investors believe that ETH has found a new fund and that the price can not fall below this point. At the moment, it certainly seems that this could be true, and the third largest currency by market capitalization currently trades in green, with a price of $ 131 per currency.

Because of price volatility, which is still relatively high among high-ranking currencies, the ETH would still have to rise above and below $ 130, although this may be the point at which the true decline could end. With less than a week before the end of the year, many members of the crypto community are hoping for a sign of market stability that could lead to new growth at the start of 2019.

At the time of writing, the volume of ETH trade is just over $ 3 billion, while the capitalization of the currency is $ 13.56 billion. At the time of writing this article, Ethereum is one of only 5 coins in the top 10 to be traded in the green, while Bitcoin and XRP, both larger in terms of market capitalization, are recording slight losses. The ETH price, on the other hand, apparently stabilized on December 25, keeping mostly a delicate balance between $ 125 and $ 135.

The recent rally has managed to bring the ETH to $ 156.60, which is a new milestone that the currency reached on December 24th. Since then, ETH has undergone a price correction that has reduced its value by about $ 25. When it comes to Bitcoin, the correction took away almost $ 400, leaving the larger currency just above $ 3,800 in terms of price.

Will the situation change in the new year?

Since many now hope that 2019 will bring positive change to the encrypted market, it is possible that the best coins will maintain their current prices, at least for a while. However, recent reports suggest that some of the expected events that could have a positive impact on cryptographic space – such as the launch of the Bakkt platform – could see further delays. If this happens, prices may be in another freefall, even if nothing is confirmed until now.

A positive thing for the cryptic world is its apparent independence from the US stock market, which is still dominated by the bear market. As such, many consider the cryptography market a safe haven for traditional investors in the future, although many are still questioning it, and at the moment it remains a distant possibility, at best.

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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not hold stakes in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.

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