Cryptocurrency Analyst Chris Burniske Claims Ethereum Is in Bear Market

Libra Coin News
Wed, 08/21/2019 - 06:07
Alex Dovbnya
Ethereum is experiencing bearish price action while Bitcoin and some altcoins are generating stellar returns in 2019  
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Even though top cryptocurrency experts claim that the crypto winter has already thawed, it doesn't necessarily pertain to Ethereum, the largest altcoin whose price is struggling to pick up steam.

Ethereum Mainnet Boasts 200,000 ERC20 Smart Contracts

According to cryptocurrency expert Chris Burniske, Ethereum is currently in its very first ‘mainstream’ bear market. He compared the current bear market to that of Bitcoin, which took place in 2014-2015.

The price of Bitcoin plunged to $250 back in 2015 after peaking at $1,149 in 2013.       

At the time of writing, the coin’s price is sitting at $189,38 after a 5 percent drop, but another Burniske’s tweet suggests that investors shouldn't be blindsided by the bearish price action given that the network is experiencing active development.

As reported by U.Today, Ethereum 2.0 will mark the much-anticipated transition from proof-of-work (PoW) to proof-of-stake (PoS).  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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