XRP Ethereum price war rages on. Like a phoenix from the ashes, ETH adds $2.7 Billion to market cap & retakes the second position.
XRP Ethereum battling, for fork sake!
After one month sat in third the pheonix has again risen and retaken 2nd place! In just 24 hrs ETH has added a further $2.7 billion to its market cap.
Many had felt that Ethereum would start to drop even further down the rankings. Major updates and product developments have been way overdue for the ETH network…
XRP sits in third again with just half a million in the last 24hr volume.
So what has caused this sudden upsurge?
XRP Ethereum, market heats up but why?
We have found two likely reasons why the tables have turned again. One of then being the upcoming Constantinople fork.
This change will mean that only 2 ETH will be generated instead of 3. This move will decrease the Ethereum in circulation and push the price up even further.
Experts say this will happen as soon a January the 16th. This will increase the demand on Ethereum massively.
When anything becomes scarce, the price leaps up. We think this is what is happening here and today’s price jump is in anticipation of this change.
When previous forks have occurred the price of ETH has spiked quite considerably.
Anything else causing this new ETH spike?
Another factor that could be causing this latest growth we feel is market oversold conditions. This means exchanges bought too much ETH expecting a rush of sales/bull-run.
Many, including myself, expected a bull run to have happened by now. One of our predictions had depended on it! Clearly so did many crypto exchanges.
When this occurs it makes the price drop initially but allows the price to recover slowly. This is exactly what we have seen since the end of November - the start of December.
SO these factors we feel have combined to push XRP off the second spot and down into third. For me, I may just stick a few dollars into ETH.
The price will certainly maintain a rise until the fork occurs.
Ethereum - lucky Forkers?
No luck involved here, the creator of this cryptocurrency is a genius. Vitalik Buterin, the co-mastermind behind the Etherium network, added these forks purposefully.
Finally, the genius of Etherium can be seen in the many altcoin spinoffs. Cryptocurrency such as Golem that uses the ETH network help the value increase also.
So would I buy Etherium in 2019?
You’re damn right I would…