The weekend usually offers a bit of momentum in the cryptocurrency market rather than reverse. While last week has focused mainly on currencies that gain value, the weekend seems a bit shabby about it. An interesting market trend comes in the form of an Ethereum. It suffers lower losses in USD, but earns a lot of value on Bitcoin. As such, everything seems to go according to plan.
The price of Ethereum has its own thing
No one will deny that this weekend does not occur as most people would have liked to see. Although there is absolutely no reason to panic, the positive trend established during the first five days of the week can not be sustained. This is a pity, although there is a lot of space for a short breath after a rather wild week.
In the case of Ethereum, the current price trend offers a little bit of everything. First of all, there is the tiny deficit in USD, even if the price remains above $ 112 without too much trouble. The most interesting aspect is the ETH / BTC report, which has improved by more than 2.5% in favor of Ethereum. Most altcoins are struggling to notice gains on Bitcoin right now. which can become a little problematic later.
There are not too many discussions about Ethereum on Twitter today. This is a bit unusual, although it seems that most people are watching the markets or preparing for the upcoming Christmas holidays. There are things far more important than cryptocurrency prices during this time of year, although it will undoubtedly be a topic of conversation during many meals around the world.
The big news this week is the way companies focused on Ethereum technology are forced to make some difficult calls. The bearish cryptographic market of 2018 makes it much more difficult for companies to support their current approach and workforce. As such, redundancies are the logical result, with ConsenSys announcing a gloomy future at the start of this week. Developments such as these will become more evident over time, as many supported projects will never see the light of day.
This news has created some controversy on social media, which is normal. Justin Sun has made clear to see this as the perfect momentum to overcome Ethereum. In addition, he welcomes all unemployed ConsenSys employees who will join TRON in the coming weeks, as the company would have "a lot of funding". Pablo Criado is in love with this attitude, although other fans can look at things differently.
This @justinsuntron he is crazy! "… overcome #eth & #btc… "his trust gives me his hair! I MUST LOVE YOU MAN!#TRX #TRONICS @cnnbrk @CNN_Blockchain @CNN @TronicsEspana @cnni #cryptocurrency https://t.co/i9NFedSW4g
– Pablo Criado (@pablojcriado) 22 December 2018
Looking at the bigger picture, the price of Ethereum seems to be in a good place right now. A dive under $ 110 is possible, but the total damage will be minimal above all. As long as ETH / BTC earnings can be sustained, there will be cautious optimism for this altcoin in both the USD and BTC departments. As such, this weekend could be quite interesting, all in all.
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.