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After having enjoyed a rather positive wave of motion, it seems that the price action of Ethereum is again blocked again. Despite a slight increase in value in USD, losses in ETH / BTC accumulate fairly quickly. This has some interested users, although it seems that no real changes have to be expected before the imminent gallows of Constantinople.
Ethereum price stalls
Lot of Ethereum the fans do not see the time that the next update of the network of Constantinople. This new development will create another hard fork from Ethereum, even if it paves the way for a reduction in block premiums and a possible transition to game testing. Despite a failed test of launching Constantinople, it seems that most of the knots have been resolved in recent weeks.
The "hard fork" excitement does not necessarily reflect the current price trend of Ethereum. This is a 1.9% gain in USD, pushing the price of Ethereum back to $ 155.8. At the same time, there is a net loss of 4.1% in terms of ETH / BTC, which means that the 0.04 BTC level can not be maintained after all. An Ether is currently rated at 0.0382 BTC and may continue to fall further in the coming hours.
In fact, it would seem that the maintenance of Bitfinex – which was announced in advance – could trigger a bit of selloff from Eth against Bitcoin going forward. Whenever such a large exchange goes offline temporarily, it has become apparent that there will be some minor losses for several major currencies. It seems that things could return to normal soon enough, although nothing has been confirmed yet.
ETHUSD now pulls a corresponding chuffingcups fork. My guess is that Finex maintenance will send it.
And 'a greedy short of ETHBTC and ETHUSD?#eth #ethbtc $ eth $ ethbtc pic.twitter.com/N7OYAjOEJb
– Gone Broke (in the recession of 2018-2020) (@gonebroke_) January 7, 2019
In more positive news, it would seem that the DAI stablecoin has been receiving considerable attention lately. It is also important to note that this stablecoin is supported by Ethereum and MKR reserves the right to ensure that no real cheating occurs. While it remains to be seen how this will affect the popularity of DAI going forward, it is clear that there are many reservations to keep the pegged relationship afloat.
$ 70 million of DAI supported by € 280 million of pooled ETH funds and $ 380 million of MKR governance (to manage liquidations … if necessary) via / r / ethereum https://t.co/ugm4MFoo2c hot 🔥 in #reddit #ethereum #eth #crypto
– Domain address information (@ DomainAddress4u) January 7, 2019
It is not entirely rare for fake Twitter accounts to appear from time to time. In most cases, these accounts try to imitate known individuals. A new fake John McAfee account appeared that states how all markets will pump in the coming days. It will not take long before this account is closed, although we can only hope that this positive momentum really comes true.
believe it or not, the whole market will pump in several days …#BTC #ETH #LTC #BCH #DOGE #XVG #XRP….
– John McAfee (@HelloMcAfee) January 7, 2019
Based on current market circumstances, it would seem that the price of Ethereum could not necessarily increase or decrease much. The current price dynamics of Bitcoin seem to involve all the other markets in the process. However, Ethereum could potentially lose more value in the BTC department, which is something that can make many people wary. Therefore, the next few hours will be very interesting to keep an eye on.
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.
Picture (s): Shutterstock.com
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