Ethereum Price Analysis — How to Trade Ethereum and Bitcoin
Hi Crypto Network,
Ethereum price analysis is an interesting topic at the moment with the hot topic of anything related to Decentralized Finance (DeFi). Ethereum being the gateway to Defi you can see a real boom going on. if you haven’t considered Defi at this stage with the proposed 8% pa returns then you must have been hiding under a rock.
You only have to examine things like the monstrous Tether market cap, the recent surge in the price of Chainlink as well as DeFi platform Celsius recently exceeding $1 billion in crypto deposits, it’s clear that these are well-founded claims. The Twitter hacking of several high-profile names in the US was the highlight news of last week. However, the direct financial damage due to this hacking was limited as the hackers could only scam 12 Bitcoins from the people. A very important point to note is that throughout theordeal, Bitcoin’s price hardly budged, which shows that the asset has matured. Previously, a piece of similar news would have tanked the price.
Crypto Market Analysis — Ethereum Price Analysis
China is reported to have made significant progress in the development of digital yuan. It has already roped in large corporations to test the digital payment system. The success of the digital yuan will force other nations to also follow suit with their own central bank digital currency.
Morgan Creek Digital co-founder Anthony Pompliano believes that the money printing by the US Federal Reserve has caused the “devaluation of the currency.” Therefore, he advocates people to get out of cash and invest in assets such as stocks, real estate, gold, Bitcoin, etc., that are likely to rise over the long-term.
Bitcoin, which was projected as digital gold has failed to rise along with gold, which is at a nine-year high. This suggests that investors are not convinced that Bitcoin is a safe haven. Therefore, for the past few days, Bitcoin is more correlated with the US equity markets rather than gold. However, Binance CEO Changpeng Zhao is confident that “the safe haven properties of Bitcoin will come through over time.”