Mixed signals with Ethereum: ups and downs
Those involved in the matter already know about this news, but for those interested you may find this article interesting. As can be perceived by the title, the second most popular cryptocurrency in the world is in a swing in its price, alarming its owners. The objective of this post will be to try to understand the current situation by the comments of experts.
Current situation
Starting with knowing how you are currently, with a value of $ 197, although you can see the volatility of the currency currently. Last week I set a price of $ 170 and $ 230 as extreme spikes. It is estimated that the currency every day suffers variations between 10% to 20%, even occurring in a few hours.
Explanation
The reason that analysts try to give to this situation is considered as complex, explaining that the actions that the Ethereum developers are taking are right, but risky.
Basically explain that what we are experiencing is a process of transition of behavior, where the developers of Ethereum stopped seeking to please the regulators and began to improve their assets.
This means that they no longer wait for indications from the US SEC, for example, and they began to take action for their scalability, as the article by "Vlad Zamfir could be one step closer to fragmenting the Ethereum Blockchain".
They consider that the market is reacting and seeking to adapt to the situation, with unpredictable variables such as the confidence of investors, consumers and the regulators themselves.
Analysts consider it a "risky" decision because they are measures for the medium - long term, causing the short process to be a change, in which, depending on the response of the people, it can be a success or a failure .
Future projections
Currently the projections are as solid as the price of ETH, meaning that they are highly subject to changes according to the market. Some analysts agree that if ETH manages to reach $ 260 by the end of October, it would be a success and would mark the basis for the next growth. However, no one wants to try to predict how their price will be by the end of this year, given the current level of uncertainty.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by anawertymary from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.