Most of the cryptocurrency markets remain subject to some very odd trading rends. Although there is no reason for further bearish pressure right now, it would appear none of the markets can note any strong gains at this time. The Ethereum price is a good example, as its USD and BTC value haven’t shifted all that much. Despite the slow uptrend, retaking $120 isn’t entirely unlikely.
Slow Ethereum Price Uptrend Commences
After nearly a full year of bearish pressure, Ethereum enthusiasts wonder when things will turn around again. As it turns out, that time is not right now. Under these current market circumstances, it would appear there will be no real change in market value any time soon. This is not necessarily the news ETH holders will be looking for. Despite some minor shifts in USD and BTC value, it seems unlikely a price outbreak is imminent in either direction.
To put this in perspective, the Ethereum price has risen by 1.6% in USD value to $118.7. There is also a 0.57% increase in the ETH/BTC ratio to push the value closer to 0.0329 BTC again. Although both of these trends are effective gains, one has to wonder how long this momentum can last. There isn’t anything to be excited about right now, despite a more than healthy daily trading volume.
There are some interesting developments taking place behind the scenes which can have a positive impact on Ethereum’s value. The recently released Mastering Ethereum book is quite interesting to take note of. It can introduce even more people to this growing ecosystem, even though some of the information in this book may be outdated when the Constantinople fork occurs. Even so, it is written by Andreas M. Antonopoulos, thus the book will be well worth checking out.
— Svein Ølnes (@sveinol) January 23, 2019
As is always the case, people will gladly mention Ethereum in the same breath as some of its other “competitors”. Considering how all projects pursue very different models, it may be a stretch too far to throw Ethereum and WAVES into the same category. Biggzi seemingly enjoys comparing the two under their current circumstances, yet there is no reason to think both projects won’t be successful at the same time.
— biggzi (@biggzi) January 23, 2019
Last but not least, there is still the mysterious Ethereum Classic Vision project. This new currency was supposed to be created once the Constantinople hard fork goes into effect. As the fork is now delayed, it seems unlikely the ETCV currency will be of great interest to a lot of people. Even so, there are individuals on Twitter trying to generate some buzz for it. Always approach such projects with the utmost care.
— HerbertPacheco (@HerbertPacheco8) January 23, 2019
Even though it seems there is no reason for the Ethereum value to remain this low, it seems there isn’t a specific reason to expect any different. The top markets are all subdued and will remain to be for quite some time to come. Changing that outlook will mainly depend on Bitcoin’s momentum, which has been virtually non-existent for several months now.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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