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Cryptocurrency investors woke up in a sea of green, with the entire crypto market showing impressive numbers in all areas. Ethereum was the part that resisted the trend and allowed the markets to be bullish in less than 24 hours. Could this finally be the beginning of an "encrypted summer"?
The crypto markets started the week on a very positive note with a $ 10 billion rally since Sunday morning, Ethereum clearly surpassing many other assets in the top 20.
Ethereum leads the cryptocurrency market, with a current gain of 14.09%, surpassing yesterday's price of $ 125 and now exceeding $ 145.
Yesterday, the pop was brought back pretty quickly, but Ethereum continued after and the rest of the cryptos followed. pic.twitter.com/9nWVksur54
– Mati Greenspan (@MatiGreenspan) February 18, 2019
ETH even outperformed Bitcoin, recording 34% gains from $ 103 in 2019, while Bitcoin gained only 10% at the same time.
The momentum of Ethereum is probably due to the next decisive step of Constantinople, which introduces a number of network improvements. To avoid vulnerabilities, the Ethereum development team decided that there would be two hard ranges on the network, on the same block.
The first fork will implement all proposed changes, while the second "hard fork" in St. Petersburg will disable the protocol in which problems have been identified.
The estimated update is now scheduled for March 1 according to his countdown.
We can expect ETH to keep prices going until the end of February. If everything goes as planned with the next fork, and the community remains optimistic about ETH, we could even see real progress.
Wow, ETH just pulled the whole market all day.
Vitalik falters for the first time this year.– DonAlt (@CryptoDonAlt) February 18, 2019
Another very healthy sign is that the movements occur at high volume.
On February 8, total trade volumes reached $ 14 billion. Today, this figure can reach 27 billion dollars.
Movements that occur on larger volumes tend to be more significant. pic.twitter.com/n15nntlOUR
– Mati Greenspan (@MatiGreenspan) February 18, 2019
Read more: Pump! EOS Earns 22% (!), Bitcoin Cash 21%, Bitcoin Spends $ 3,900
Even though Ethereum outperformed the first cryptocurrency currency today, Bitoin is closely following it, posting gains of 8.19%, currently trading
$ 3,927.62, which is almost $ 300 more than 24 hours ago.
Mati Greenspan, Senior Analyst at eToro, has long been enthusiastic about the crypto market and Bitcoin in particular, but warned that it was necessary to recognize that the bear market had not yet been broken.
& # 39; Here is the line of resistance we followed. As you can see, we are not even about to solve it.
Finally, we must recognize that the bear market has not yet been broken.
Here is the line of resistance we followed. As you can see, we are not even close to solving it. pic.twitter.com/tWX58rshnh
– Mati Greenspan (@MatiGreenspan) February 18, 2019
Read more: Is Bitcoin ready to take its next decisive step?
The crypto community has a very different feeling from the past months. Much more optimistic, with a lot of caution.
$ ETH The 287 day downtrend line is over pic.twitter.com/VEHn22kmNw
– CryptoHispano (@CryptoHispano) February 17, 2019
The bull market is coming … It's a fact
– Johannes Kemppainen (@ Jaukkr13) February 18, 2019
Excited for the next few months. Expect some volatility as different regulators reach a consensus to embark on crypto. In addition, SBI in Japan and Fidelity in America plan to launch in March. ?
– Ashish Thadani (@ashishRthadani) February 18, 2019
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