Ethereum (ETH) bulls are very optimistic about a rally towards $ 300 especially after recent shoe prices showing cryptocurrency fly in a matter of days. However, all the dreams that seem to have now been completely cracked by a flash crash that saw a price fall below $ 200 before recovering. The weekly chart for ETH / USD now shows the price closing below the average 50-week moving. If the price closes below this level, we will have bearish confirmation and the ETH / USD may be expected to decline towards a new year lower than the future months. We have cited a target price of $ 60 for Ethereum (ETH) at its next downtrend but it is likely that after the developments we can see the fall price more. This is because it is now clear that Bitcoin (BTC) is more likely to be following 201
As discussed in our previous analysis, ETH / USD should have a longer market cycle than the previous one. It is only fair to expect that because of this time there is more money on the market and it is much longer below. This is also true of Bitcoin (BTC) because it has not had a succession of market rounds shorter than the previous one. This means that Ethereum (ETH) like Bitcoin (BTC) is expected to have a longer bear market than ever. If it does have a bullish reversal at this point to start a new market cycle which means that the continuous market cycle is shorter than the previous one that could not be the case. The price of Ethereum (ETH) is still at a good point for holders of bag holders to dispose of some of their holdings before the decline determines.
ETH / BTC Chart (1W)
A mistake most people make in this market think they have to crack the price because the price is did not come to them. This is not the case because despite the hype around blockchain technology, cryptocurrency such as Ethereum (ETH) are extremely risky investments. Some retail traders do not mind placing $ 1,000 or less on a cryptocurrency such as Ethereum (ETH) but for professional entrepreneurs with millions of dollars in assets under management, such price Swings make a big difference. This is why they are in their fingers and they are sensitive to price movements.
If things go wrong, they sell without having to look at what a wonderful Ethereum (ETH) project is. For them, it's about money not technology. It is also true of most investors in this space that are more important to their investments than what is happening in Ethereum (ETH). Altcoins like Ethereum (ETH) are likely to experience the most pain during the next downtrend as they rallied sharply against Bitcoin (BC) over the past few weeks. As Bitcoin collapsed (BTC), altcoin like Ethereum (ETH) is much like the rise of Bitcoin (BTC) harder metals.