• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Ethereum — Shorts High, Price Low
Nexo

Ethereum — Shorts High, Price Low

Kyle Baird by Kyle Baird
4 years ago
in News, Ethereum, News teaser
0

Ethereum is really feeling the bite as its price continues to plummet — ETHUSD shorts soar from all-time lows in August to currently being at an all-time high. 


To the Moon and Back

Ethereum has now joined the throng of altcoins that are trading below their pre-November 2017 bull run prices. It is currently experienced an 86 percent pullback from its $1,400 all-time high.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

While the other top-ten cryptocurrencies are trading in a range slightly above or below their November 2017 prices, Ethereum has seen the worst. In November 2017, at the dawn of an explosive bull run, Ethereum had nearly reached $400. This past weekend Ethereum was briefly trading at less than $200 — a loss of more than 50 percent since November.

To the Moon and Back

Compounded with the slipping price, shorts on Ethereum skyrocketed from an all-time low two weeks ago, to an all-time high today, topping out at nearly 250,000 ETH.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Compounded with the slipping price, shorts on Ethereum skyrocketed from an all-time low two weeks ago, to an all-time high today, topping out at nearly 250,000 ETH.

Proof of Which?

Currently, the Ethereum blockchain runs on a proof of work system in which the miners that secure the network and transactions receive newly minted ETH as a reward.

Ethereum will soon be abandoning the proof-of-work model to shift into a proof of stake system that consists of investors locking away or ‘staking’ Ethereum tokens in order to secure the network. The individuals who stake then earn rewards depending on how many ETH are staked, and the length of time they are staked for.

This transition phase has presumably put more risk on Ethereum as an asset. Moreover, nearly all the companies that are building on the Ethereum blockchain are suffering through the same bear market.

This year continues to act as a prime example of a prolonged bear cycle after steep moonshots across the board in the cryptocurrency markets. Bitcoin has shown relatively strong resilience in the face of the bears, and investors are starting to realize there are less short-term risks in moving funds out of Ethereum and projects on the Ethereum blockchain, into Bitcoin.

Do you think Ethereum will continue its downward trend or is a reversal soon to come? Should Ethereum be proof of stake or proof of work? Let us know your thoughts in the comments below!


Images courtesy of Tradingview

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Kyle Baird

Kyle Baird

Related Posts

Stablecoins

Stablecoins Receive Queen’s Blessings As UK Braces For Landmark Crypto Legislation

1 day ago
Twitter Shares Shed 20% As Elon Musk Says $44 Billion Takeover Deal Postponed

Twitter Shares Shed 20% As Elon Musk Says $44 Billion Takeover Deal Postponed

2 days ago
Terra

Terra TVL Crumbles More Than $14 Billion

3 days ago
LUNA

Will Terra LUNA Go Extinct After Being Delisted By Binance, Bybit And eToro?

3 days ago
Robinhood

Robinhood Shares Rally 20% After FTX Founder Sam Bankman-Fried Acquires 7.6% Stake

4 days ago
Dogecoin crypto

Data Shows Top Coins Among Most Hated Crypto, But Not Dogecoin

4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.