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It was a very difficult year for Bitcoin and all the other cryptocurrencies. Ethereum, although once considered a rival to Bitcoin's capitalization, has lost more than 90% of its historical high. The uptrend has not yet materialized, although there is much hope for the next fork of Constantinople. Assuming that it is not delayed again, cautious optimism could be justified.
The price of Ethereum remains rather gloomy
It is natural that all cryptocurrencies and digital resources follow first of all the momentum of Bitcoin. Ethereum is no exception in this regard and it seems that it will not necessarily change so soon either. The delayed implementation of Forcella di Costantinopoli has made many people uncomfortable. Now that this fork will be aired in January 2018, the price of Ethereum may start to rise again.
Until this happens, however, apparently, there will also be even more negative pressure. In the last 24 hours, there has been a further decline of 1.4% of the value in USD, but there is a 12% increase in the ETH / BTC ratio. This pushes the price to $ 90, a relative level of support. A very special development first of all, as this seems to indicate that there may be further price action in the BTC department in the coming days.
The big news of the day is how the new Opera browser for Android comes with a built-in Ethereum portfolio. This is a very special, but interesting development. This would also seem to confirm that the Opera team is quite sure that Ethereum will be used as much more currency in the future. Only time will tell if it will really be like this. Developments such as these can give the currency a much needed impulse.
Unlike what some sources claim, however, there will be no cold storage solution with cryptocurrency for the next Samsung S10 phone. It would seem that few media sources have misrepresented this information, even if it would not be impossible for such a company to do so. After all, these days there is still a lot of clamor associated with blockchain phones.
As usually happens when the price of Ethereum moves, people jump over it like a hawk. The graph traced by Crypto Disrupt seems to be back in play, and there are several lines of resistance that must be overcome. It is equally possible that the support line will break off, however, which would lead first of all to the continuation of the general downward trend.
Just like a clock #ETH now withdrawing and testing the support on that line.
– occasionaltrader (@ occasionaltrad1) December 13, 2018
Based on current market conditions, it would seem that the price of Ethereum will not see a big rebound before 2019 as soon as possible. The conclusion of the year on a rather positive note would certainly be promising, but it is still too early to say whether this is actually possible. Even so, next year there will be a lot of things, which should give ETH a healthy boost. That is, assuming that the developers can deliver Constantinople.
Disclaimer: this is not about trading or investment advice. The article above is for entertainment and training purposes only. Please do your own research before buying or investing in any cryptocurrency.
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