Future / Price Of Ethereum & Bitcoin, How Do They Co-relate?

If you are into cryptocurrencies, you should already know you are in a risky business. The reason that it has become a risky business has less to do with the nature of the digital/Crypto currencies and more to do with the unclear horizon of regulations and how they are going to be working with fiat monies. Right now and for at least the short term in US the digital currencies like Bitcoin are being considered as assets and not money or currencies. So people are going to pay for the taxes on the bitcoin they own annually witch is one of the reasons for the latest sell off. But how are they going to regulate and define bitcoin or Ethereum in long term? Is it going to be considered a currency? It remains a big question for many people who have invested in bitcoin. But many experts and high profile people are already saying the digital currencies are going to be replacing all sorts of money anyway. like Tweeter CEO that recently called bitcoin the future global money replacing USD.

You are also hearing rumors of new movements by JP. Morgan, G. Soros, Goldman Sachs and so on, in investing in crypto world. You can also see a lot of growth in the past months on new exchange wallets made daily by Crypto-exchanges like Binance recently revealed that they added 250,000 new users in a single day. Kraken is onboarding 50,000 new accounts daily and they are logging an astonishing 10,000 new support tickets every day. In a blog post, Kraken developers wrote:

“The recent unexpected explosion in demand has been overwhelming.” Kraken developers

For now, there are few white-glove banks that have copped to cryptocurrency interest. Reports surfaced in December that Goldman Sachs Group Inc. (GS) would open a cryptocurrency trading desk, but outgoing CEO Lloyd Blankfein later refuted the claim.

‘ALL THE BAD NEWS’

What are all these fluctuations and how much Ether and Bitcoin co-relate?

The main reasons we know about the sell off of all cryptos in general in recent weeks are: 

  • Closing two exchange centers in Japan
  • Tax inclusion in US
  • Banning banks in India to work with exchange centers
  • Banning Cryptocurrencies and ICO ads in Tweeter, Google and Facebook
  • Forcing the exchange centers to apply  to be regulated in US, S Korea, Japan & …
  • The pornography in blockchains

But in particular The Ethereum has some specific reason like the news about :

  • New ASIC by bitmain
  • The new hard fork idea for ethereum
  • The idea of charging users for space in network by Vitalic
  • Again opposing the fork by the founders
  • Harder difficulty levels and getting closer to the Casper update

If you you look at all these and the price fluctuations timeline, they totally co-relate. every time the price starts to increase after a small period of sell off caused by a bad news you see another drop because of the new bad news that just broke. But how the small and periodic BAD NEWS are going to change the long term future of the crypto-world?

Many believe that the banning of cryptocurrencies related ads actually is a good news for the market giants like ether and bitcoin, the ICOs and the adding new coins and found raising in an unregulated market was just making everything worst for all the currencies by taking away all the the public trust. there is no news that point to a fundamental problem in crypto world and many believe that after the regulation phase we are going to see a huge increase in trust and so a huge comeback for the digital currencies. Now a lot of apps and platforms are being integrated and built on bitcoin and especially ether and that is happening only because of a very bright future all the community believe in.

The co-relation in current market as you can clearly see in all of the coins prices daily and weekly is simply happening because of the unclear horizon of regulations. Every time there is a bad news for bitcoint it is a bad news for all the coins and all the prices drop.

The Future And Ethereum Price Prediction:

Ethereum Price prediction actually paint a very bright future till first Q of 2019 and up to about $1600

The Future And Ethereum Price Prediction

The Future And Ethereum Price Prediction

https://walletinvestor.com/forecast/ethereum-prediction

 

Tags: News, cryptocurrencies, bitcoin, ethereum, ether, bitcoin price, bitcoin market, bitcoin prediction, ethreum prediction, crypto future, bitcoin news

Mohsen Daemi
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