If you follow the prices of ETH for the last few days, it's been very weak.
The only reason we went past 900 USD is that bitcoin was dragging it, but it can't continue forever.
In the market like this where there is uncertainty - Ethereum can't sustain.
The thing is, Bitcoin ran to ATH in December, and it has been consolidating ever since.
Ethereum rally ended much later in January and will take a lot more time to consolidate.
To understand better what I mean, please look at ETH/USD and BTC/USD daily logarithmic charts.
In 2017 BTC run was very smooth on logarithmic, but ETH log chart is ridiculous! Doesn't make any sense at all.
The reversal is imminent.
And back to our chart, the rally from 0.06 to 0.11 was way to quick to sustain, so it has to reverse.
From the perspective of utility, ETH is experiencing scaling issues and the upcoming updates won't solve them any soon.
Vitalik even posted that cryptos could go to ZERO on his twitter. It's not just a random thought.
He must have a premonition that the ETH is about to crash, but he can't publicly tell people to short.
The only reason we went past 900 USD is that bitcoin was dragging it, but it can't continue forever.
In the market like this where there is uncertainty - Ethereum can't sustain.
The thing is, Bitcoin ran to ATH in December, and it has been consolidating ever since.
Ethereum rally ended much later in January and will take a lot more time to consolidate.
To understand better what I mean, please look at ETH/USD and BTC/USD daily logarithmic charts.
In 2017 BTC run was very smooth on logarithmic, but ETH log chart is ridiculous! Doesn't make any sense at all.
The reversal is imminent.
And back to our chart, the rally from 0.06 to 0.11 was way to quick to sustain, so it has to reverse.
From the perspective of utility, ETH is experiencing scaling issues and the upcoming updates won't solve them any soon.
Vitalik even posted that cryptos could go to ZERO on his twitter. It's not just a random thought.
He must have a premonition that the ETH is about to crash, but he can't publicly tell people to short.
交易進行:
Nice dead cat bounce. Reversed cup and handle. RIP ETH.
Maybe it will pump again after X months but not now.
Maybe it will pump again after X months but not now.