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Latest news Ethereum
The thing is, Ethereum is designed as a super computer of the world. It can operate in isolation as a crowdfunding and as a platform for creating digital applications where investors can access via fiat-crypto on ramps to invest directly in promising products. At the same time, companies can build their systems on Ethereum thanks to the underlying security and the efforts of the team to solve the scalability problems and strengthen network security despite falling prices. ETH.
But even in the midst of this bullish development, companies are trying to implement various blockchain-based solutions with the sole intention of leveraging the hype around blockchain or cloud technology. Ledger Distributed, "Vitalik, in a recent interview with Quartz – launches a warning to those responsible for the application stating that this misapplication would result in a" lost time ".
Lily: Coinbase invests $ 12.75 million in security token issuance platform with Blockchain Capital
He then added that not all companies are reap the full benefits of blockchain and crypto, as it will still take a long time to solve it before it makes sense on the scale. Nevertheless, projects involved in cross-border money transfer or transfer companies and in transactional companies are the obvious beneficiaries.
Read also: CEO of Blockstack: Crypto Winter is here, but the next wave will be massive
Meanwhile, Vitalik said that he "does not understand very well" why IBM and other companies are deploying blockchains because, according to him, decentralization will be lacking, which is the hallmark of the chain of blocks.
ETH / USD price analysis
Weekly table
At the spot price, the ETH / USD is down + 85% from the peaks of 2017 and, unfortunately, for ETH holders, the ETH / USD trades in a bear breaking trend and for the moment, the bottom is not visible. Previously, we emphasized the need for buyers to maintain the pressure and to exceed the week ending September 9th at $ 250 for the bulls to be in charge.
However, the drop in BTC prices seems to have triggered a wave of selling pressure that saw bears fall below the main support line at $ 160, confirming the losses incurred in early August, completing the classic pattern of oil sales. escape from the bear.
Unless the lower lows are refused and if buyers create enough momentum to deny further losses of less than US $ 100, ETH could just as well drop to US $ 38 and even the US $ 1 junk bar as shown in the chart.
Daily table
As can be seen from the chart, the ETH / USD is down and after falling to third place after last week's 29% drop, it is likely that the bears will sell on the gas pedal.
Note that, as mentioned above, ETH is trading according to a pattern of breaking the bear and that it will be ideal if prices recover around 160 USD before resuming their trend. This could happen again because, as bears are in control, every sale at the top is a sales opportunity.
However, if the selling pressure is too high and prices fall below $ 100 or November 25, the odds are that the ETH would likely drop to $ 38 or less.
All Charts Courtesy of Trading View
Warning: The views and opinions expressed are those of the author and do not constitute investment advice. Trading in any form involves a risk, as well as your due diligence before making a trading decision.
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