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Ethereum (ETH) Price Has Broken Downtrend and May Start Rising, ETH Developer Says

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  • Yuri Molchan
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    Ethereum has broken the downtrend and is now retesting the trend line, an ETH developer states, saying that a positive outcome for the ETH price is likely

Ethereum price breaks the downtrend and may start growing, a core ETH dev says
Cover image via 123rf.com

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The price of Ethereum, the second biggest crypto by market cap in the top ten line, has dropped by over 10 percent. All altcoins are declining following the flagship currency Bitcoin in its bearish trend at the moment.

Ethereum and EOS are both losing the biggest amount of value – ETH minus 10.79 percent. EOS minus 10.45.

ETH EOS price CMC
Image via CoinMarketCap

However, a core Ethereum developer, who goes by the name @antiprosynth on Twitter, has brought some good news and a hope for a bullish reversal.

Ethereum price may go up if it holds

Looking at two charts, where ETH is trading against USD and against BTC, @antiprosynth states that ETH price has broken the downtrend on both charts and is now retesting the trend line.

While answering a question from a follower in the comment thread, the developer says that if ETH manages to hold from dropping further, the price may start growing.

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Ethereum’s hard fork Istanbul approaching

As reported by U.Today previously, the announced date of the Istanbul hard fork is December 6, which is about two weeks away from now.

This major upgrade has been delayed a few times but now Ethereum seems determined to implement it in the final days of Q4 this year.

Ethereum and Bitcoin are ‘formidable’ collateral economies

A few days ago, a cryptocurrency influencer Chris Burniske expressed an opinion that Bitcoin and Ethereum have gone beyond being just a medium of exchange and now they represent ‘formidable’ collateral economies.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Ethereum’s Vitalik Buterin: Fiat Money Will Not be Destroyed

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  • Vladislav Sopov
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    Vitalik Buterin, Co-Founder of the Ethereum Foundation and “father” of Ethereum, sat down with Eric Weinstein on The Portal podcast to discuss “old” and “new” economics.

Vitalik Buterin, Ethereum: Fiat Money Will Not Be Destroyed
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Contents

Two intellectuals, Vitalik Buterin (Creator of Ethereum), and Eric Weinstein (PhD, scientist, and Managing Director at Thiel Capital), recently sat down on The Portal to discuss Mr. Buterin's attitude towards the "classic" economics theory.

Libertarianism and Diversity

When both individuals discussed libertarianism, Vitalik Buterin said that libertarians mostly belong to two large groups characterized as either a "leave me alone'" or "conquer the world" approach. This divergence can be extrapolated into cryptocurrencies in terms of their mass adoption.

Mr. Buterin highlighted that there are participants within the crypto community that are assured that fiat currencies will be destroyed and replaced by Bitcoin (BTC). In general, Mr. Buterin estimated that the prospects of any "short-term disruption" for the sake of some "nebulous long-term gain" is skeptical. He said:

I'm definitely not in the camp that actively relishes that fiat currencies will be destroyed. 

Mr. Buterin added that several members within the Bitcoin community share this belief.

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Peaceful Coexistence

Vitalik Buterin predicts that Bitcoin and other cryptocurrencies will coexist with fiat money and balance the disadvantages of the classic monetary system. He also added that cryptocurrencies will provide "checks and balances" against a government monopoly on "issuing money" rather than "replacing it entirely".

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Mr. Buterin is well-known as a champion of pluralism in future world of cryptocurrency. He is sure that different communities will defend their views on its development.

Will crypto one day replace fiat money? Tell us your opinion on Twitter.

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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