Ethereum Developer: ETH price has reached the bottom, 2.0 first arrived in January 2020

The price of Ethereum seems to be experiencing a dead cat rebound (in the past, “the stock price rebounded quickly after a long period of decline, and then continued to fall”). Prices (in US dollars) are declining and are likely to return to the bottom formed in December 2018. However, Evan Van Ness, the developer of Ethereum, doesn't think so. He said on Twitter that the bottom of ETH has been formed and explained his point of view.

"I am talking about the bottom of ETH's price for BTC. As @ethereumJoseph likes to say, "The market is running in a cycle of fear and greed. "We have reached the lowest point of the fear cycle."

Balance-4097793_1280

He added that "in terms of the BTC price of ETH", the ETH price returned to the level of 2016. However, given the progress that has been made compared to 2016, this price has not been quantified.

Evan Van Ness added,

"Amazing is not only ETH 1.0, its second-tier solution is slow, but it will definitely happen, and the PoS chain will be released in the first quarter of 2020. Maybe it will come in January next year. "

As shown in the attached chart, the price of ETH is experiencing a rebound in the dead cat in US dollars, and may soon test the level of $190, but will even fall to $150. The ETH/BTC chart is completely another case. As of press time, ETH's bitcoin price has fallen below the December 2017 level and the transaction price is 0.02121 BTC.

The decline in bitcoin prices for competing currencies like XRP and TRX is mainly due to the sudden and rapid rise in bitcoin prices.

Eric Van Ness adds that

"Unbelievably: a few months ago, a key figure in the Silicon Valley community asked DeFi a major project: "Are you still using Ethereum?" "Of course," he replied. Other blockchains don't have this. Tools or interoperable applications. There is no alternative to Ethereum."

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Why do institutional investors use the exchange Bakkt as the gateway to the world of encryption?

Bakkt, the cryptocurrency exchange initiated by ICE, the parent company of the New York Stock Exchange, has officiall...

Blockchain

Alameda Research's $200M Blow A Tale of Phishing Attacks and Poor Security Practices, as Confessed by Ex-FTX Engineer

Aditya Baradwaj has revealed that a file containing blockchain private keys and exchange API keys was left vulnerable...

Blockchain

South Korea officially legalizes cryptocurrency transactions, Bitcoin stands at $ 9,000

The entire session of the National Assembly of South Korea passed an amendment to the "Reporting and Utilization...

Blockchain

Inside story How FTX stays up all night to prevent a $1 billion cryptocurrency theft case

On the same day FTX announced bankruptcy, someone began stealing hundreds of millions of dollars from its vault. An i...

Blockchain

Bitcoin for $0.32, they dreamed back to 2009 today

On August 23, 2019, the history of cryptocurrencies may remember this day. In the normal market price of Bitcoin was ...

Blockchain

Did Michael Lewis's reputation 'crash' by showing mercy to SBF?

Source New York Times Compiled by LianGuaiBitpushNews Mary Liu Hiking is a common interview format for Michael Lewis....