[ad_1]
Many cryptocurrency investors believe that the price of Ethereum (ETH), currently $ 477, will rise in the short term. This belief; It can be confirmed by looking at the long positions, the number of which has reached record highs.
Josh Olszewicz shared an image of Ethereum (ETH) investors trading futures on the cryptocurrency exchange Bitfinex today. Drawing attention to the balance of short-long positions in the market, the cryptocurrency commentator pointed out that the number of long positions has started to rise rapidly.
High number of all time visas
Bitfinex, one of the largest cryptocurrency exchanges, hosts a record number of long positions for Ethereum. Data shared by Olszewicz shows that the open positions opened by ETH bulls on the exchange have reached an all-time high.
It started to worry investors
The increase in the number of long positions in the market indicates that the number of investors who think the price of Ethereum will rise is also starting to increase. However, some cryptocurrency investors are concerned that this development is not good for ETH.
Seeing too many people starting to take a bullish stance, investors think this could lead the wind in the opposite direction. Some social media users are giving a bearish message, implying that so many people can’t be right. Others said the long position increased, but there were not enough buy orders in the market.
Too many people crave, not enough people actually buy.
– Sasu 🌽 (@fry_crypto) November 19, 2020
[ad_2]Source link
