Ethereum (ETH) Loses 30.07% Over the Last 6 Months

Ethereum has shown huge volatility over the last 6 months, and the three major price variations in these 6 months have cost it a whopping 30.07%. The value has now gone well below 180 USD all the way from 251 USD.

Ethereum Price Analysis

The ETH price was being traded at 251.90 USD on May 21, and over the next 36 days, it gained 96.48 USD to reach 348.38 USD, highest of the last six months. On June 26, it started weakening and gone as low as 169.11 USD by August 29. From there, Ethereum showed huge price fluctuations, and the last swing happened between September 19 & November 15, and in these 57 days, Ethereum lost 18.78% value to reach 178.47 USD.

Ethereum Price

The market cap of ETH coin on May 21 was 27.095 billion USD, and now it has been reduced to 19.318 billion USD. In these 6 months, the market cap also has been through multiple fluctuations.

Ethereum’s 20 days average stands at 176.71 USD, and it’s 50 days average is 180.26 USD. ETH coin is likely to continue to struggle for some more days, and the next resistance for Ethereum price may fall at 181.59 USD.

Ethereum (ETH) Resistance and Support Levels
1st Resistance $181.5933
2nd Resistance $185.7266
3rd Resistance $188.9233
1st Support $174.2633
2nd Support $171.0666
3rd Support $166.9333

Will Ethereum (ETH) Stay Ahead of The Bearish Pressure?

Ethereum has gone through many ups and downs since the beginning of the year due to the continual volatility in the crypto market. ETH has been through varying degrees of bull and bear phases with the bear phase dominating the price. The YTD price movement shows the varying price of ETH coin in the range between $125.107 – $316.325.

Ethereum Price Analysis:

ETH coin is trying to get out of the bear grip, as seen from the YTD price chart. 2019 did not begin on a good note for the coin, with the price showing at $125.1072 on March 04.

On April 08, Ethereum price was still below the baseline but went slightly up to $180.4701, the upper range being to the extent of 44.25%. With the crypto market volatility continuing, the price of ETH coin went down to $153.4359 by 15.12% on April 27.

The period after this saw a good rally, and the price rose to a huge 106.34% at $316.3254 on June 26. The bears had gone active by then, and the price of Ethereum began to be under continual bear pressure. It fell to $169.1282 on September 06 at a rate of 46.49%.

The price of ETH coin has shown a slight recovery on November 6 at $188.8702, recovery being to the tune of 11.67%. The current day’s price is at $176.1067, the fall being 6.75%.

Ethereum-Price-Chart

ETH price had to face the heat of the bears since the bearish phase began in the crypto market in July. The price is still trying to get out of this mode with success at some intervals. Analysts expect the short-term trend to be bearish for the coin, but going by the future potential of Ethereum, expect it to get even with the bears and bounce back soon.

Will Ethereum (ETH) Brace Itself to Welcome the Bulls?

  • Ethereum price is gearing in for a stable upward momentum

Ethereum, the second-largest coin on the blockchain platform, did not have a good start to the year. The coming months after that were good for the coin as it was able to bounce back and maintain a steady upward momentum till end of June. With the bearish sentiment sweeping the crypto market in July, ETH price went on a downhill from there. The first week of November has seen some good upward momentum in the coin. The YTD price chart for Ethereum shows the price moving in the range between $124 – $317.

ETH to USD Price Chart

Ethereum Price

The ETH price began on a low note on February 10 at 124.1089, being below the baseline. The price started showing a positive upward trend than on and rallied to $264.8389 on May 16, and the rally is a whopping 113.39%. The price then lowered to the extent of 12.72% on June 09 at $231.1575. The upward momentum for ETH price continued, and it reached $316.603 by 36.96% on Jun 26. With the onset of the bears, it was downhill for the coin than on, as the price went below the baseline and reached $153.8956 on Oct 25. Today the price of Ethereum is at $185.0046. The price has slowly maintained an upward streak in November. It has to be seen whether ETH coin will maintain this momentum in the coming days.

Ethereum Price Prediction

ETH coin seems to want to move away from the bearish sentiment set in July. It is slowly bracing itself for an upward as its price has been moving steadily upwards since the first week of November. Experts have faith in the future potential of the coin and feel that the Ethereum price has the capacity to hit back at the bears by the year-end.

Current investors should watch the crypto market movement for ETH coin with abated breath as the coming days look brighter for the coin.

Ethereum (ETH) Price Moves Moderately Over Past 3-months

  • Ethereum (ETH) price is seen hovering around $185 from last two months
  • The tight hold of the coin might be an indication of future upsurge

Ethereum is moderately suffering in the market when compared to Bitcoin. If we look at the last 3-month chart, the price started dealing at $172 in September and is currently at $187. The inclination in the price amid heavy fluctuation is a sign of the high potential that the coin holds.

The currency is floating around $185 from last two months. There is an anticipation that the price might be gearing up for the upcoming upsurge. Let’s have a look at the Ethereum price chart.

ETH/USD Price Analysis:

The above given chart is reflecting a moderate movement in the coin. The price of Ethereum started dealing at $172 on September 01, 2019. The coin embarked an upsurge and mounted at $224 marking a heavy progression of 29.8%. Unable to hold, ETH/USD fell to $154 by 31.50%. The recovery in the coin picked up the price and closed at $185 by 20.25%. The month-long movement in the coin indicated an uptrend of 7.17%.

Last month the price was seen falling in the first few days. The counters moved from $185 to $170 by 7.88%. The price jumped to $197 by 15.75%. Further, the currency fell to $154 by 22.12% just to leap to $198 by 28.75%. Unable to hold, the price slipped to $183 by 7.43% during the closing period of the month. The month reflected 7.88% regression in the price. The ongoing month is reflecting a moderate movement around $187.

Ethereum (ETH) Price

Ethereum investment has always given promising result and currently trades around $187 price area. The currency is slowly moving towards the immediate resistance level at $188. The other calculated immediate resistance and support levels are as follows:

Resistance Level Price
R1 $188.46
R2 $190.09
R3 $192.22
Support Level Price
S1 $184.7
S2 $182.57
S3 $180.94

Bitcoin will cross $20k predicts ShapeShift CEO Erik Voorhees

Bitcoin is banking over a value of $10,000. This was when it was being written, ShapeShift, a crypto exchange and its stakeholders view the biggest crypto by total capitalization, reaching $20,000 by late 2019.

I think we’ll be over $20k by year-end, and 2020 will be the next bubble cycle (regardless of halving). However, I make lots of price predictions because it’s fun, and I’m usually wrong.”

Erik Voorhees spoke about his bullish views on Bitcoin. He also insists people to buy some Bitcoins looking at its promising future. He also recommends businesses to hold roles longer.

He says:

Crypto is a long-term project, and always extremely speculative. Everyone should own some, and they should assume it’ll go to zero. When they’re comfortable with that, then they’re ready.”

He also said about the world being a poorer place if it were to be without digital currencies like bitcoin. He insisted that Bitcoin pioneers and evangelists to extend rooting beyond just and pay attention to the behaviors of altcoins too. Although he did not specifically list these bitcoins and spoke that “there are at least 5-10 other than Bitcoin which are worth attention.”

Shapeshift is a crypto firm offers instant virtual currency transactions without wanting users to make a new account. Users just need to embed in their hardware wallet and that’s it. Doing away with the overhead of creating an account transformed the situation with the inception of a membership framework that asks only a basic set of information about the customers. The digital currency exchange of non-custody supports the Foundation of Interwallet Operability principles that are anticipated to be consolidated with the standard of utility layer for crypto. Hence Voorhees verbosity does not come out as a surprise here.

He said, “Shapeshift doesn’t do custody, the owner of the crypto asset is solely responsible. But isn’t the perceived complexity of using a hardware wallet one of the many things that has to be addressed as part of the wider usability drive to spur adoption?”

Although, given that regulations of the global Financial Action Task Force have come out to be fruitful, the Shapeshift’s update was basically a necessity and a wise move by the authorities, although inviting criticism from the customers. The chief, Voorhees spoke last month about implementing KYC and that it got a not so positive response with the exchange’s customer base plunged the trading volumes.

But while the US markets get more centralized, Voorhees said that the amount of US customers had risen to more than half in its user base.

Mastercard Joins R3’s Blockchain-powered Consortium Of Marco Polo

MasterCard has announced that it is now the member of R3’s Marco polo Network, which is the joint project of R3 and Ireland’s TradeIX.

The Marco Polo Network is powered by Corda Blockchain Technology from software company R3. Marco Polo network promises a multi-asset platform for multicurrency transactions with real-time connectivity, broker-dealer services, and more visibility with lesser blockades for accessing capital.

Marco Polo’s finance platform, which is a big player with $1.5 trillion markets, will open its access to the MasterCard as a part of its membership. After its launch in 2017, it has formed a strong network of 25 plus members from major financial institutions like ING, BNP, Standard bank Africa, Commerzbank, and many more.

MasterCard Track which was launched in 2018 is a B2B global trade platform. It has been developed byAzure cloud service of Microsoft. It offers vetting, onboarding, and identifying services to its huge clientele of 210 million across the globe with end to end payment process.

Faster and better access to critical data through the MasterCard will ease the business transactions using the Marco Polo network.

“The vast reach of the network of MasterCard will complement and enable the financial providers who have pioneered in the growing phase of the network,” Daniel Cotti, a managing Director TradeIX quoted.

“When there is trust, there will be trade, we are excited to share mutually connected digital trade ecosystem,” said Claire Thompson, EVP Enterprise Partnership at MasterCard.

Jacques Levet, Transaction Banking Head EMEA, BNP Paribas, said that with this new addition, there will be more flow of information for the network members across the value chain, which will benefit everyone.

MasterCard has been keen on using Blockchain technologies. Last year it filed for many patents regarding monitoring of data of consumers transactions by Distributed ledger technology (DLT).

The new membership will improve the global trade of MasterCard and will ensure innovation in payments with optimized data security.

Ethereum Price Falls to $170 after Taking a Hit of 8%

Like all other major coins, Ethereum has also bitten the bullet of 8% over the last 24 hours. The coin has fallen to $171 from $184 in these 24 hours. Over the last 8 months, Ethereum has traveled a great distance and made a journey from $123 to $335.

ETH to USD Price Analysis

Ethereum was traded with no huge change in the initial days of this year. The first swing happened between 04th March and 08th April; it added $55.19 to the ETH coin and made the coin to roam at $179.03. The next colossal swing started on 25th April, and in next 62 days, Ethereum managed to gain $182.80 more and finally placed the coin at $335.35. But this high figure could not be maintained for long. It took a dip of 39.82%, and ETH price reached as low as $201.55 by 16th July. The latest swing happened between 05th August and 29th August and this period has seen a fall of 26.12% and the current price of Ethereum is hovering around $170. The Market Cap on 29th July was 22,384,039,064 USD, and the value of each coin was $210.38. The current Market Cap and the price of ETH coin are respectively 18.15% and 19.17% down in comparison to the values of last month.

Ethereum Price Chart

CHART

Ethereum is down by a huge margin in the last 24 hours, and it might fall further. The details of all the next resistance and support levels are listed below:

R1: $183.81, R2: $193.74 and R3: $199.55

S1: $168.07, S2: $162.26 and S3: $152.33

Travelport & IBM’s Joint Effort to Exploit Blockchain Technology For Hotel Commissions

Cryptocurrencies or virtual currencies are fast penetrating to varied domains and are becoming the channelizing mode to facilitate transactions.

With the announcement of travel commerce and technology company Travelport using IBM’s Hyperledger Fabric has deepened the scope of cryptocurrencies in the modern era.

The travel service provider firm, Travelport, made the heads turn when it revealed that it uses Hyperledger Fabric of tech-giant, IBM, to allocate commissions to travel agencies.

Based on a statement released on August 20, the concerned blockchain was a deliberated joint effort of IBM, global corporate travel management company BCD Travel, and other three anonymous hotel conglomerates.

The primary purpose of going to the blockchain-way was to “put the lifecycle of a booking on the blockchain,” which in turn will bring the number of payment issues to a minimal size.

Precisely, the blockchain-based product is created to keep track of the commission transactions that hotels are indebted to pay when customers purchase travel packs through booking agencies.

Travelport’s esteemed product director Ross Vinograd quoted:

“Traveler modifications at the property, no shows, and complimentary room nights are just a few examples that drive commission discrepancies which in turn generate escalations, cost, and revenue loss. Our aim is to put the lifecycle of a booking on the blockchain and we believe doing so will drive transparency, trust, and ultimately booking volume.”

Blockchain technology, which is totally decentralized and thoroughly secured, is expected to put an end to the disparities that often pop up with the usage of different payment systems. This decentralized platform will ensure accurate and time-saving transactions.

Currently, the travel agents have to wait for a long period of 60 days to get their commission credited. According to a survey of Travelport, thirty-four percent of travel agents have to face a tough time while reconciling their commission and collecting it from the respective hotels. But with the employment of blockchain platform, the agents will get their payments at a fast rate.

To keep things easy, IBM has decided to host the nodes of the platform during the pilot testing, which, after the success of the plan, can be carried on by each hotel all by itself.

Travel industry giants are fast turning towards the exploitation of blockchain technology to prosper the arena. Recently, UAE based, Etihad Airways, collaborated with blockchain-centered, travel platform, Winding Tree, to aid their business module.

With the world leaders exploring decentralized blockchain system, the future of virtual currency seems to prosper in leaps and bounds.

Crypto- White House Warns Against Use of Cryptocurrency in Illicit Drugs Trading

Cryptocurrency is the latest buzz word that has taken the financial world with its boom. Where, on the one hand, it helps the investors to earn huge profits, on the other ground, the virtual currency also fosters illegal transactions as well.

The supreme power of the United States, The White House, made a shocking revelation about the involvement of cryptocurrencies in the drugs market.

The esteemed dignitary, The White House, issued two official statements concerning drug purchases in the U.S. The advisories revealed the direct play of virtual currencies in the concerned transactions.

The official warnings, pointed out to both financial institutions and digital payment platforms, states that the array of ‘convertible cryptocurrencies’ namely bitcoin, ethereum, monero, etc. have the potential to be used and unfortunately have been used for the unlawful purchase and sales transactions of drugs.

The advisories depict convertible virtual currencies as monies because they can be easily converted into paper currencies like the dollar.

In the report, the authorities have specifically mentioned the topic of Schedule II controlled drug, Fentanyl, which finds its entry in the U.S through Mexico and China.

According to the data of the Drug Enforcement Agency, Fentanyl is 80 to 100 times stronger drug than morphine.

The advisory disclosed that “An analysis of sensitive financial data indicates that domestic illicit drug manufacturers, dealers, and consumers use online payment platforms or [convertible virtual currency] to purchase precursor chemicals or completely synthesized narcotics primarily sourced from China.”

The joint effort of the unveiling of the advisories by the White House in collaboration with other government agencies is a positive step to curb the Fentanyl proliferation.

In this effort, the agencies took into consideration different payment methods used by the drug traders, including virtual currencies.

The shutdown of the dark market AlphaBay by the U.S in July 2017, finds its mention in the reports as a major step in stopping the connection between illegal substances and virtual currencies.

A part of the advisories also throws light on the methods of tracking and discovery payments for illegal products, used by the concerned authorities to control the transactions. It describes the use of CVCs like digital wallets, IP addresses as well as transaction hashes.

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) booked and blacklisted three Chinese nationals involved in money laundering and drug smuggling.

EOS Price Analysis: EOS up by 7% since yesterday, will it maintain the growth?

Let us compare the price of the coin since past 5 days. EOS started on a positive note with prices reaching as high as $4.62 on 24-July-19 at 15:40 UTC time. The coin managed to rise and fall, however the falls in prices were not drastic and EOS managed to maintain the bullish run for most of the days. It reached the level of $4.66 on 27-Julyy-19. The same day, there was a sharp fall with prices touching $4.29 at 10:15 UTC time. Since this date, the coin has been moving at more or less the same pace expect the major fall on 28-July-19 with price reaching as low as $3.90 at 22:30 UTC time.

EOS price comparison is as mentioned below:

Current Data of EOS:

  • EOS is ranked at number 8.
  • As per 8:34 UTC time today, market value of the coin was 3,936,966,148 USD.
  • EOS is valued at $4.20 at 09:32 UTC time.
  • 24-hour volume figures are $1,662,312,053
  • 925,204,417 EOS coins in circulation.
  • EOS offers a ROI of 310.77%.

EOS Price Comparison and Future prediction:

If we compare the price of EOS since yesterday which was $3.90 and today’s prices the coin is at present reflecting a bullish run by 7%.

We anticipate that EOS may reach $4.23 by the end of the day tomorrow, post which it may fall marginally in the next week. It may be traded in the range of $4.18 and $4.31 in the coming month. By the end of the year, the coin has all the potential to reach $5.08.

Conclusion:

It is recommended to sell the existing EOS coins in hand as per the movement observed today. As per the RSI indicator, the number of coins being traded have been oversold today. The MACD indicator points that the present movement of the coin is a downward trend, however we believe that EOS will manage to gain some momentum and prices will rise further by tomorrow. EOS has great potential and has proved its ability time and again, it would be a very good asset if it is traded from long term perspective as short term trading may not be fruitful.