Ethereum (ETH.X)
Our coverage:

Ethereum and Bitcoin panic selling: what's next?

Rajlaxmi Sahu | 6:54 am ET, 20 Nov 2018

Ethereum (ETH.X) is trading at $134, down -14% from yesterday.   Bitcoin (BTC.X) is trading at $4,481, down -15% from yesterday. On the hourly charts for the ETH/USD and BTC/USD pairs, there is a visible a bearish trend line.  What is the price prediction for those two cryptocurrencies?

Bearish trends for Ethereum and Bitcoin indicate an extended selling pressure in the cryptocurrency market.  Given the active futures market for Bitcoin, analysts have attributed the sell-off to stop orders by professional investors and panic selling among retail investors.

Both Bitcoin and Ethereum are now trading at levels below those from Thanksgiving a year ago.  This concludes the 'gold rush' by retail investors that started roughly around the same time.   

There are some chances that renowned ICO projects might liquidate their ETH holdings.  Many of the decentralized applications leveraging Ethereum are essentially profitless. In order to sustain development costs against the falling market demand, some ICOs will choose to sell their Ether. So, the imbalance between demand and supply for Ethereum and Blockchain is instigating an overall bearish trend in the market.

On the macro front, investors are expressing doubts about the timeline for real-world applications of Ethereum and Blockchain.  Scalability still remains a major challenge for the Ethereum network and is a hindrance to its large-scale adoption. There are other projects that are circumventing Ethereum's shortcomings, but they also face feasibility and commercialization challenges.

What is Ethereum's near-term price forecast?  We think that in the upcoming period, Ethereum's and Bitcoin's price will be a subject to speculative investors' whims.  Here are the major technical indicators:

  • MACDs for both Ethereum and Bitcoin are the bearish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) for these two cryptocurrencies is in the 10-15 range, indicating they are both oversold.  RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security.

Over the last 30 days, BTC.X lost -30.94%. 

Over the last 30 days, ETH.X lost -35.05%, which is 4.35 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Ethereum: price analysis, prediction and news bites

Rajlaxmi Sahu | 4:39 am ET, 08 Nov 2018

Ethereum (ETH.X) is trading at $214.38, down 3% from yesterday.  The ETH/USD pair is in the bullish zone.  What's causing renewed interest in Ethereum, and what news should investors be aware of?

Eric Schmidt, Google's former CEO, recently spoke publicly about blockchain and Ethereum.  When asked whether blockchain is overrated or underrated, Schmidt gave a complex answer. “In the public format, overrated. In its technical use, underrated.  Today, blockchain is a great platform for bitcoin and other currencies. And it’s a great platform for private banking transactions where people don’t trust each other.”

There are a number of reasons that can be attributed to Ethereum's recent price lift.  Initial Coin Offerings (ICOs) and other cryptocurrencies are continuing to use Ethereum as the core platform. Ethereum has the best smart contracts capability used by different businesses for the creation of their own products. As commercialization momentum is picking up again, the price is trending upward accordingly. 

Contrary to popular rumors, Vitalik Buterin, the founder of Ethereum, won't be stepping back from Ethereum development.  In fact, he continues to remain focused on encouraging the work of other developers in the open-source developer community. 

What is the near-term price forecast for Ethereum?  Here are the major technical indicators:

  • MACD is currently in the bullish zone.  MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is 55, indicating a neutral position. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $210;
  • A new major resistance level is forming at $230.

Over the last 30 days, ETH.X lost -1.7%, which is 1.24 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Bitcoin price analysis and news bites for November 2

Carla Olson | 4:29 pm ET, 01 Nov 2018

Bitcoin (BTC.X) is trading at $6,375.77, up 0.8% from yesterday.  The price has been fairly stable/volatile lately.  What is Bitcoin's price forecast?  What recent developments should Bitcoin investors be aware of?

The news of the day is that Wasabi Wallet has finally been released.  Wasabi is a privacy-focused, Bitcoin wallet for Windows, Linux, and OSX.  The main feature of Wasabi is that it protects investors' information leak against network adversaries.  It also comes with an intra-wallet blockchain analysis tool that can help consumers make well-informed spending decisions.

Our hope is that a great percentage of bitcoiners will use Wasabi Wallet and take privacy precautions proactively.  Wasabi offers a major improvement in the areas of fungibility and privacy.  Combining Wasabi with Breeze and Lightning should address 90% of consumers' needs when it comes to privacy and fungibility. 

Now let's look at the technical sentiment for Bitcoin.  How is the price expected to move in the near term?  

Here are the major technical indicators:

  • MACD is back in the bearish zone.  MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is currently 43, implying that the coin is moving to the oversold territory.  RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $6,255;
  • A new major resistance level is forming at $6,435. 

Over the last 30 days, BTC.X lost -3.01%.  See the chart below for details.

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Ethereum Classic: price analysis, forecast and news for November 3

Rajlaxmi Sahu | 1:26 pm ET, 03 Nov 2018

Ethereum Classic (ETC.X) is trading at $9.11, roughly flat compared to yesterday.  Ethereum Classic losses extended this week and it's now approaching the support level of $8.75.  This week, technical analysists have noticed a major bearish trend line.  

But it's not all doom and gloom for ETC investors.  In fact, there are positive developments that investors should be aware of.

What caught our attention this week is a bridge of peace between Ethereum (ETH) and Ethereum Classic (ETC), an effort spearheaded by Akomba Labs.  According to the Ethereum Special Projects Medium blog, the Ethereum foundation will donate 15,000 ETCs to the Ethereum Classic Cooperative.  This action could lead to new cooperation between the two decentralized organizations, which up until now haven't been the best friends.  The bridge will also enable ETC transactions to be conducted on the ETH chain, and vice versa. 

From the perspective of a potential buy-and-hold investor, Ethereum Classic has made significant progress in 2018.  The listing of Ethereum Classic (ETC) on Coinbase will add great liquidity to the cryptocurrency.  Donald McIntyre, former Vice President of Morgan Stanley, believes that ETC “has an incredibly unique market positioning in an extremely valuable niche” in the crypto sector. 

What is Ethereum Classic near-term price forecast? Here are the major technical indicators:

  • MACD is currently in the bearish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is currently at 35, approaching the oversold territory. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $8.75;
  • A new major resistance level is forming at $9.25.

Over the last 30 days, ETC.X lost  -17.27%, which is 14.90 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Ethereum Classic price analysis and forecast: it's not all doom and gloom

Rajlaxmi Sahu | 4:12 pm ET, 13 Nov 2018

Ethereum Classic (ETC.X) is trading at $9.09, down 2% from yesterday.  Ethereum Classic losses have extended, as it trades closer to $9.00 level against the US Dollar; however, a bullish trendline is noticeable on the technical hourly chart.  

What is Ethereum Classic's price forecast?  What news should ETC investors be aware of?

Traders and investors currently undervalue ETC because it has lost some of its appeal relative to other cryptocurrencies.  However, Ethereum Class is a solid platform, attracting good projects, beyond some questionable ones looking to create hype or generate buzz. 

Ethereum Classic has learned a big lesson about scaling from Ethereum (ETH.X), which introduced the Plasma protocol as a way of solving its scaling challenge.  Plasma is being criticized as vaporware in the crypto community.  In contrast to the mothership, Ethereum Classic won't need Plasma to solve scaling.  

Ethereum Classic has benefited from news claiming that the altcoin is officially being considered for a listing on Coinbase.  Even though Ethereum Classic team still has a lot of work to do before establishing itself as a currency with promising use cases, there are some interesting applications around compatibility with the Internet of Things, which are garnering investors' attention.  

What is the near-term price forecast for ETC?  Here are the major technical indicators:

  • MACD is going to move back into the bullish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) has moved below 50, but still not oversold. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $8.75;
  • A new major resistance level is forming at $9.25.

Over the last 30 days, ETC.X lost -19.44%, which is 16.72 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Ethereum (ETH.X): quiet before a breakout?

Rajlaxmi Sahu | 6:13 pm ET, 09 Oct 2018

Ethereum (ETH.X) is trading at $227, down by 1.42% from yesterday.  After breaking away from the $245 support level against the US Dollar, Ethereum went through a downside correction. 

Now that the price has stabilized, investors are wondering about Ethereum's price forecast.  Are there good chances of another price surge?

Ethereum leads in smart contracting and development of dApps. It is a secure, time-tested network, and a suitable platform for the developers and start-ups who intend to raise funding via initial coin offerings.

Ethereum price has gone through a steep downward correction.  Nevertheless, the team continues to work very hard to solve some of the remaining challenges around scalability.  Scaling the network will help with processing billions of transactions per second, which is a feature touted by some of its rivals (e.g., Tron).  

There are other positive commercial developments going on for Ethereum.  Group XP, Brazil's largest brokerage firm, has plans to join the crypto space--and it will list Ethereum in the upcoming period.  This could present a significant boost for the cryptocurrency.

What is the sentiment towards Ethereum?   Here are the major technical indicators:

  • MACD is currently back in the bullish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is hovering around 50, which implies a neutral position. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $221;
  • A new major resistance level is forming at $235.

Over the last 30 days, ETH.X lost -25.11%, which is 20.30 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Ethereum: what do the bulls and the bears say?

Carla Olson | 6:38 am ET, 21 Sep 2018

Ethereum's price has been less volatile lately compared to 6 months ago. As the price becomes more stable, consumers are starting to think about investing in Ethereum again.  Take a look at the questions we frequently get about Ethereum as an investment or a trading opportunity:

  • Is Ethereum currently a buy or a sell?
  • Should I sell or hold Ethereum today, if I purchased it 3 months ago?
  • Is Ethereum a good buy/investment opportunity?

Here are the reasons to buy Ethereum cryptocurrency (a.k.a., the bull case for Ethereum):

1. It is one of the most promising cryptos with a market cap of  $23 billion.    

2. It is a decentralized platform that runs smart contracts, on which applications run without any chances of downtime, censorship, fraud or interference from third parties.

3. The price increase may occur because many ICOs, i.e., the Initial Coin Offerings intend to release their tokens on the Ethereum network.

4. The coin bears the potential for transforming the financial system in a similar way that Uber and Airbnb changed the transportation and hotel industries. The Casper and Sharding technologies demonstrate important milestones in the development of this cryptocurrency.

5. The traditional financial markets are losing the trust of investors which is prompting them to look out for cryptocurrencies that are more established such as Ethereum.

Here are the reasons to sell Ethereum (a.k.a., the bear case for Ethereum):

1. Forking Ethereum is quite easy since it is an open source code with no entry barriers. The ability to fork the protocol increases the utility for users but reduces the "economic rent" for token holders. Thus, in the long run, the price of ETH is could decline, as new forks in the road are created.  (Note that Ethereum operates in the state of perfect competition).  

2. For Ethereum, scalability is an issue that might take a longer time to solve; currently, there are no methods to run applications that have billions of users on a single chain. This is one of the main reasons why some clients have left the platform.

3. If the scalability problem is resolved, Ethereum users will benefit, in contrast to traders.  ETH coins will trade at a high volume, leveraging the scale of the platform, which will ultimately lower the profit margin (spread) for traders.

4. Ethereum is comparatively more centralized than Bitcoin. About 7% of all Bitcoin Core Software files were written by a single developer, whereas in the case of Ethereum 20%  is written by a single coder. What would happen if this person decided to leave the project? This seems to be quite a trivial question but is worth giving a thought.

Ethereum (ETH.X) is trading at $222, up 5% from yesterday.  Over the last 30 days, ETH.X lost -40.23%, which is 43.53 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Bitcoin (BTC.X) price: still bearish, despite some positive developments

Carla Olson | 6:26 am ET, 08 Sep 2018

Bitcoin (BTC.X) is trading at $6,450, up 1% from yesterday.  Its price extended downside correction and tested the key support at $6,400 against the US Dollar.  What is Bitcoin's price forecast?

ShapeShift CEO Erik Voorhees said that the bear market for Bitcoin is not over yet.  ThinkMarkets chief market analyst Naeem Aslam thinks similarly and believes that speculators have unnecessarily intensified the downtrend by overselling Bitcoin in the global exchange market. 

However, there are a number of positive developments related to Bitcoin.  The largest bitcoin mining pool in the world BTC.com is intending to expand its operations: it released a client designed to mine the Ethereum blockchain. Initially, the pool will support Ethereum and Etereum Classic. In order to enhance profitability, the users will get an option to shift between the two Ethash based cryptocurrencies.

Around 16% of Bitcoin's computing power is accounted for by BTC.com. BTC.com also makes up 14% of the Bitcoin Cash network. The mining operations are expected to grow by 12% in the upcoming 12 months.

Here are the major technical indicators for Bitcoin:

  • MACD is placed is in the bearish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) is below 50, indicating the coin is oversold.  RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $6,350;
  • A new major resistance level is forming at  $6,650.

Over the last 30 days, BTC.X lost -12.77%.

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


Is Cardano catching up with Ethereum?

Carla Olson | 6:32 am ET, 06 Sep 2018

Cardano (ADA.X) is trading at $0.08, down 12% from yesterday. What is Cardano's price prediction? What news should Cardano investors and traders be aware of?

Cardano has become a prominent coin in the crypto-sphere and is the largest threat to Ethereum. Its platform use case bears a lot of potential, which became particularly apparent after the introduction of the Marlowe application.

In order to execute financial contracts, the Marlowe application targets the financial sector, which is akin to Peyton Jones. Currently, Ethereum dominates in escrow services but Marlowe provides a better value proposition compared to it.

There is a tough competition between Ethereum and Cardano, but both of them are trading in the red.  Both cryptocurrencies are recording a double-digit loss compared to their respective prices from 24 hours ago. 

Here are the major technical indicators for Cardano:

  • MACD has moved back in the bearish zone. MACD (moving average convergence divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of prices.  MACD is calculated by subtracting the 26-day EMA (exponential moving average) from the 12-day EMA;
  • RSI (relative strength indicator) for ADA/USD is hovering around 30. RSI compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements of a security;
  • A new major support level is forming at $0.75;
  • A new major resistance level is forming at  $0.88.

Over the last 30 days, ADA.X lost 35.37%, which is 21.17 percentage points lower than the 30-day return of Bitcoin (BTC.X).

Disclaimer: The news article above expresses the author’s opinion about the topic of the article. We strongly advise you not to base your investment decisions just on this article alone. If you’d like to become a writer for Finstead Bites, please send us an email at hi@finstead.com.


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