On the evening of 8. September by the Ethereum-price broke a major Support and currently stands at US $ 190. This means that the price has fallen to values in July of 2017. Currently, an important Support will be tested by the indicators that he could fall even deeper.
Bitcoin price crash has corrupted a few days ago for traders with a Long Position and Hodlern the day. But Bitcoin, so weak, the Performance of the Bitcoin exchange rate is currently, above the Support this year. In stark contrast, the Ethereum course is: Since yesterday evening this is under 200 dollars:
With the sale only of the Support 286 U.S. Dollar undercut was not. The rate fell below the Minimum from September of last year. Currently, the Ethereum-price is testing a Support at the end of July. If this holds, would be the next price target at 155 US dollars – the Minimum of the middle of July 2017.
Reasons: the General market situation, (Self-)criticism of Ethereum, and Procrastination of Difficulty Bomb
To identify the reasons for a price collapse, is often idle. In the case of Ethereum, a couple of Ethereum offer, in addition to the reasons for the fall of the Bitcoin price however, specific points: Recently, there were on Ethereum criticism from various corners. Christian of Stellar X was, and why he would hold no ICO on Ethereum-based. Even sharper was shot in the well-known magazine TechCrunch: Jeremy Rubin argued why, in his opinion, Ethereums Value Proposition cannot be fulfilled.
Really dramatic is that no less than Vitalik Buterin Jeremy Rubin on Reddit agreed in part. Vitalik admitted, however, that this would only lie on the consensus mechanism:
I think I’ve been pretty consistent about my view that (i) every present-day existing blockchain, including ETH and BTC, sucks, and (ii) PoS is necessary. Not sure why anyone surprised.
— Vitalik Non-giver of Ether (@VitalikButerin) September 4, 2018
This hopeful view on an Ethereum-System with Proof of Stake, which is to be with Casper real, has been moved via the EIP-1234 now for a year. Strictly speaking, it is moved with the Ethereum Improvement Proposal, only the Difficulty Bomb, but not a few interpret this step in a Proof of Stake for Ethereum now has to wait.
We summarize: An already bad Situation on the market, paired with harsh criticism of the Ethereum System, which is shared, in part, on Vitalik, and a lengthening of the waiting time to Casper, which would be from the point of view Vitaliks necessary, are sufficient reasons for such a dramatic course.
#BUILDL – The rescue of Ethereum
This is the end of Ethereum? It doesn’t have to come absolutely. Quite apart from the fact that the currently tested Support can hold, it is now necessary to develop on Ethereum dApps. The Community of Ethereum must show that the crypto currency can do much more than just a platform for any in ICOs. This is not unrealistic: no Matter whether you are looking at FOMO3d, Augur, or Golem: The second largest of all crypto currencies can, whether with or without Proof of Stake, much more than a platform for Token Sales!
Leave a Comment
You must be logged in to post a comment.