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Recent Ethereum News

E-Crypto News' update provides the latest articles on technology and cryptocurrencies. e-cryptonews.com Continue reading Why Do Cryptocurrencies Follow Bitcoin? at E-Crypto News.

Why Do Cryptocurrencies Follow Bitcoin?

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The Bitcoin price has fallen back to $43,000 and was once again unable to break through the resistance at $45,000. However, if BTC manages to break this $45,000 barrier, prices should continue higher towards $50,000. Will Bitcoin correct lower or will it continue on its upward trend? Let's analyze! If you feel like you need guidance when tackling the crypto market, you need to check out our premium area. You’ll always be up-to-date with everything happening in the crypto market. Additionally, you will receive trading ideas and professional trading support. You will also receive information about the latest crypto trends at an early stage! If you want to read more about our Premium Area, click here. Bitcoin Price RETRACES from the 45K Resistance Bitcoin price suffered another slight setback after attempting to break back to the upside. In the last few days, we have seen a massive rally above $40,000 after a long battle with the resistance at $39,000.  The Bitcoin price struck this mark several times before the breakout occurred and Bitcoin rose above the $40,000 mark. The price is now looking to repeat the same thing as it attacked $45,000 as upper resistance for the past few days. However, Bitcoin has not yet been able to break through this mark and bounced off the resistance. We can clearly see in figure 1 how Bitcoin prices retraced from the 45K resistance area. Fig.1 BTC/USD 1-day chart showing the retracement of BTC - TradingView Bitcoin Price Trying to push back The Bitcoin price has tried to break through the $45,000 mark several times in the past few days. However, resistance at 45,000 is proving to be stubborn. We experienced something similar with the $39,000. Again, Bitcoin had to test the mark multiple times before the big breakout to the upside came. Now is an ideal point to get into Bitcoin cheaply. Buy bitcoin and other cryptocurrencies on crypto exchanges  Binance ,  Coinbase ,  Kraken  and  Bitfinex ! A few hours ago, the Bitcoin price rose to $45,600, where it was rejected again. As a result, the price fell to a current price of $43,600, where prices stabilized currently. Bitcoin Price Prediction - Will Bitcoin Consolidate? There was hope that Bitcoin price could quickly break the resistance and launch an attack on $50,000 this weekend. However, resistance seems arguably similar in strength to the old resistance at $39,000. So the price probably needs a few days until the upper resistance could fall. However, the trend is still bullish and the strong fundamental data of bitcoin seems to be slowly reflected in new bullish price targets. The big correction at the turn of the year seems to be over for good. Fig.2 BTC/USD 4-hours chart showing the Fib Retracement - TradingView If prices were to fall below $43,000 again, we might reach the 38.2% retracement area that is delimited by the price of USD 41,150. On the other hand, after 2 reversals, technical traders are hoping for a breakout higher, eventually to $50,000. Don’t forget to follow us on Google News to keep yourself updated with the latest Price Predictions 😉 Bitcoin ETF© Cryptoticker The post Correction Day! Should you Buy $BTC before Bitcoin Price reaches 50K? appeared first on CryptoTicker.

Correction Day! Should you Buy $BTC before Bitcoin Price reaches 50K?

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E-Crypto News' update provides the latest articles on technology and cryptocurrencies. e-cryptonews.com Continue reading Here’s What is Happening in The Cryptocurrency Space Right Now at E-Crypto News.

Here’s What is Happening in The Cryptocurrency Space Right Now

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The Bitcoin price has stabilized slightly in the last few days and could rise more strongly if it breaks above $38,000. But if Bitcoin cannot break through the resistance, there is a risk of another sharp drop lower. What does the near future of the Bitcoin price look like? Let's assess Bitcoin's newest price developments in this Bitcoin price prediction. Bitcoin Price at Resistance just below $38,000 In the last few days, we have experienced another sharp drop in the Bitcoin price. It went from $43,000 to $35,000 in 2 days. The Bitcoin price has thus fallen below the $40,000 mark for the first time in months. In the last 2 days, we have seen a slight stabilization of the Bitcoin price. It is now staying above $36,000 and trying to surpass $38,000 again and again. A resistance has formed here that needs to be broken.  Looking at figure 1, we can clearly see the formation of that $38,000 resistance. It first was a support level that was broken, then turned into a resistance. In fact, back in August 2021, that same area represented also an important area for traders. Fig.1 BTC/USD 2-hours chart showing the 38K resistance - TradingView Can we reach a Bitcoin 40K Price soon? If Bitcoin price breaks the resistance at $38,000, we could see a surge above $40,000, which would have seen the price recover from the last sharp drop. The $38,000 to $42,000 area has previously been cited as a key support zone from which Bitcoin could rally back towards $50,000. Now is an ideal time to get into bitcoin cheaply. Buy bitcoin and other cryptocurrencies on crypto exchanges  Binance ,  Coinbase ,  Kraken  and  Bitfinex ! With the last Bitcoin crash, the bottom of the current price correction could have been reached. In the last 3 months, we saw several strong crashes, each of which we hoped was the bottom of the correction. Now that we reached the strong buy area of 30K, prices should be on their way to 40K thanks to the buying volume. Bitcoin is Heavily Oversold If we look at the analysis data on the Bitcoin price in figure 2, we can see that the so-called

$BTC Price reaches Strong Resistance – Will a Bitcoin 40K Price Happen?

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More Ethereum News

What Is Ethereum (ETH)?

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.

Ethereum was first described in a 2013 white paper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.

The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype code-named “Frontier.” Since then, there have been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.

Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime, and fraud.

Information

Type Coin
Algorithm Ethash
Proof PoW
Minable Yes
Premined No

Links

www.ethereum.org
forum.ethereum.org
r/ethereum
GitHub

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