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Cryptocurrency Analyst Chris Burniske Claims Ethereum Is in Bear Market

  • Alex Dovbnya
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    Ethereum is experiencing bearish price action while Bitcoin and some altcoins are generating stellar returns in 2019  

Cryptocurrency Analyst Chris Burniske Claims Ethereum Is in Bear Market
Cover image via 123rf.com

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.

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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).  

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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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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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