Investors continue to be Cautious about Hard Fork yet Optimistic about ETHJanuary 15, 2019
Bitcoin and Ripple were hitting the green, and Ethereum was gaining some quick momentum. While the current green trend was tentatively expected, these signs of growth are happening after
Several cryptocurrencies saw red.
Ethereum (ETH) is seen to sustain a Bullish trend before the Constantinople Hard Fork. The market cap hovers at $13,256,569,368 with 10.83% market dominancewith the 24 hour low and high trending at 113.828/127.993 at the time of reporting.
The latest issue that was trending concerning Ethereum was Google blocking off “Ethereum.” For the unenlightened, Decenter claimed that Google had blocked Ethereum as a blacklisted keyword in just months after Google lifted its ban on cryptocurrency and the blockchain on their Adwords platform.
There was a response from the official account of Google at Twitter that clarified the move. The clarification provided was that there was no problem with ads that were targeting the US and Japan; however, that is not the case when the ads were targeting places other than US and Japan. The ban applied to ads targeted outside of US and Japan.
However, some opinions spread the fact that the majority of Google’s practices concerning the blockchain industry were motivated politically. While blockchain is already popular, Google is not providing sufficient opportunities to provide blockchain businesses with appropriate opportunities to market themselves. Obviously, Google has got different types of political and economic agendas. Justifiably, they were trying to control the territories of a payment system over which they did not have reasonable control over. Whether for preventing scams or territory control, they could not do anything better than what they have done now.
With so much happening around Ethereum, expectations are mounting about how the investor sentiment might start showing up in response to the hard fork. It is expected that Constantinople might open up a rally in Fibonacci retracement level above the 50%.
The cryptocurrency investors are waiting for some juicy action. With the very ground of the cryptocurrency market shaking, several coin holders registering losses, data centers depending on the cryptocurrency business for survival, ETH continues to survive. Optimistic investors are ready for the “what next” post the hard fork.
Ether’s price level is expected to correct itself. The digital asset is falling quicker than what most of the investors expected it to be. The token already lost 90% of its original value. There is optimism; however, investors continue to be cautious about hard fork as well. And most of the nodes are getting updated before the fork can happen.