Ethereum price is currently trading around $90 while being down more than 93 percent from its peak. The market sentiments are tilting towards more pain incoming as ETH shorts reach its all-time high (ATH).
“No One Wants ETH”, Ethereum Shorts Reaching the Moon
Desk Update: Historically, our trading volumes have been more evenly weighted across BTC and ETH. However, our recent flows have been heavily skewed towards BTC – with approximately 70% of our transactions in BTC.
— Cumberland (@CumberlandSays) December 7, 2018
Ethereum has dropped down to two digits with yesterday’s crash. Briefly touching $84, ETH has come to its 19-month lowest. At the time of writing, the third largest cryptocurrency by market cap of $9.6 billion has been trading at $92 with 24-hours gains of about 7 percent. In the BTC market, ETH is in the green by about 6 percent.
Ethereum 1-month price chart, Source: Coinmarketcap
Despite the severe downfall, ETH registered greens on the announcement of its long-awaited hard fork Constantinople launch in about mid-January 2019.
#Ethereum Constantinople mainnet hard fork scheduled for block #7080000, estimated around the 16th of January, 2019!
— Péter Szilágyi (@peter_szilagyi) December 7, 2018
This upcoming hard fork involves five Ethereum Improvement Proposals (EIPs) that will fundamentally change the Ethereum blockchain.
These improvements might help in uplifting the price of Ethereum and power it up to compete with its competitors such as Tron whose Founder and CEO Justin Sun is eagerly suggesting Ethereum developers and projects to migrate to Tron network.
However, Eth price have lot more pain coming up as the popular trader and investor, Crypto Squeeze shared,
Found the reason of the $ETH bounce 7 hours ago.