Has Ethereum (ETH) Finally Found Its True Bottom? - Global Coin Report
Connect with us

Blogs

Has Ethereum (ETH) Finally Found Its True Bottom?

Published

on

Ethereum
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto space has seen a lot of activity recently, and investors around the world have been waiting for Ethereum to finally reach a bottom. After months of stability, the market crashed for the second time in 2018 on November 14th, just before the BCH hard fork, and the downward trend lasted for over a month when the situation finally changed on December 17th.

Ethereum seems to be stabilizing

This was the time when cryptocurrencies experienced a new price surge, which lasted for an entire week. While Bitcoin value grew by around $1,000, Ethereum managed to almost double its former value of $80. However, the surge soon ended, and a price correction took place, bringing ETH down to around $130, where it seemingly stabilized.

Now, traders and investors believe that ETH has found a new bottom and that the price might not drop below this point. At the moment, it certainly appears as if this might be true, and the third largest coin by market cap currently trades in the green, with a price of $131 per coin.

Due to price volatility, which is still relatively high among the top-ranking coins, ETH value is still expected to go above and below $130, although this may be where the real decline might end. With less than a week before the year ends, many in the crypto community are hoping for any sign of market stability which might eventually lead towards a new growth in early 2019.

At the time of writing, ETH trading volume is just above $3 billion, while the coin’s market cap sits at $13.56 billion. At the time of writing, Ethereum is one of only 5 coins among the top 10 that are trading in the green, while Bitcoin and XRP — both larger in terms of market cap — are experiencing slight losses. ETH price, on the other hand, seemingly stabilized on December 25, mostly maintaining a delicate balance between $125 and $135.

The recent rally managed to bring ETH to $156.60, which is a new milestone that the coin reached on December 24. Since then, ETH went through a price correction which reduced its value by around $25. When it comes to Bitcoin, the correction took away nearly $400, leaving the largest coin just above $3,800 in terms of price.

Will the situation change in the New Year?

Since many are now hoping that 2019 will bring a positive change to the crypto market, it is possible that the top coins might keep their current prices, at least for a while. However, recent reports suggest that some of the highly-anticipated events that might bring positive impact to the crypto space — such as the launch of Bakkt exchange — might see further delays. If this does happen, the prices may be in for another free fall, although nothing is confirmed as of yet.

One positive thing for the crypto world is its apparent independence from the US stock market, which is still dominated by the bearish market. As such, many consider the crypto market to become a safe haven for traditional investors in the future, although many are still questioning this, and it currently remains a distant possibility, at best.

For real-time trade alerts and a breakdown of the crypto markets, sign up for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Blogs

How Can Foreigners Get Loans in Singapore

Published

on

loans for foreigners in Singapore
READ LATER - DOWNLOAD THIS POST AS PDF

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…

Continue Reading

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

Published

on

Aluna.Social
READ LATER - DOWNLOAD THIS POST AS PDF

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

Continue Reading

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Press Release