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Major ETH Price Correction Is About to End: Bullish Crypto Trader

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  • Yuri Molchan
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    A crypto trader says that even though some may consider him a delusional ETH bull, he believes the ETH price correction is nearing its end

The major ETH correction is about to break, a bullish crypto trader says
Cover image via 123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Since late October, the ETH price has dropped from $190 to the present level of the $137 area. The price of the second major digital currency has been dropping along with other altcoins in the market, following BTC sliding down.

ETH price CMC
Image via CoinMarketCap

Now, it seems that the Ethereum price may start rising soon.

‘The 800+ day correction coming to an end’

A major crypto analyst and trader @BTC_JackSparrow suggests that the ETH correction that has been going on for over 800 days is about to end. High chances, he hints, for Ethereum price to start an upward movement.

The trader also states that at the moment, the ETH price is 26 percent up from the bottom reached on September 6. Meanwhile, BTC, he says, has lost 35 percent against USD since then, meaning that if ETH goes up it does not have to be the same for BTC.

An Ethereum core developer goes bullish

Recently, a core Ethereum developer known on Twitter as @antiprosynth tweeted that ETH had broken the downtrend both on the ETH/USD and the ETH/BTC charts and is now retesting the trend line.

ETH price bullish forecast
Image via Twitter

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A bearish opinion emerges

A ‘crypto strategist’ @crypto_noble, however, suggests an opposite point of view, considering that the second largest coin by market cap is likely to continue dropping.

He believes that should ETH fail to emerge from under the $160 mark it will keep going down.

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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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Bitcoin Fees Could Exceed $100 in 2020: Blockchain Capital

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  • Alex Dovbnya
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    Bitcoin could hit a new all-time high with network fees exceeding $100 in 2020, according to Blockchain Capital

Bitcoin Fees Could Exceed $100 in 2020: Blockchain Capital
Cover image via 123rf.com
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Blockchain Capital's Spencer Bogart has recently published a list of 2020 predictions for cryptocurrency predictions. The most remarkable one concerns Bitcoin fees that are expected to surpass $100 next year due to the growing demand for transactions.

Back in December 2017, during the heyday of crypto, the average Bitcoin transaction fee increased to $55. As of Dec. 12, 2018, it is just at $0.52, BitInfoCharts data shows.    

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Bitcoin blast past a new all-time high 

According to Blockchain Capital, Bitcoin is set to experience another price rally in 2020 that could push its price above the current all-time high of $20,000. However, it is very unlikely to touch reach $1 mln (sorry, John McAfee).  

The crypto community expects the BTC price to skyrocket because of the upcoming halvening after the enormous returns of the previous two events. This time around, the reward for each mined coins will be decreased to just 6.25 coins. 

As reported by U.Today, the famous stock-to-flow model, which measures the coin's value by determining its scarcity, would be invalidated if Bitcoin didn't surge past the $100,000 mark before December 2021. 

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Privacy coins get delisted 

In the meantime, Blockchain Capital suggests that 2020 is going to be a tough year for stablecoins. Major exchanges could be forced to delist the likes of Monero (XMR), Zcash (ZEC), and other anonymous cryptocurrencies due to growing regulatory pressure. 

The writing is already on the wall. ZEC, which recently reached a new all-time low, was delisted from Coinbase UK back in August. In October, OKEx Korea moved to delist all major privacy coins but later decided to review its decision.     

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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