Crypto and Ethereum (ETH) Give Green Light for Bulls

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If you have been following my work you'll remember a recent article I wrote mentioning a bull run in the works. Hopefully, you have been carefully accumulating your crypto and are now enjoying the fruits of your hard labor. After long days and nights spent sweating over charts, carefully managing your allocations, and dreading further blood-letting, green days have finally arrived!

As I'm writing this article, Ethereum (ETH) is breaking back over $600 USD and doesn't seem to be slowing down. Moreover, Bitcoin Cash (BCH) is nearing $1200 USD, OmisGo (OMG) and EOS (EOS) have more than doubled since the beginning of April, and many other coins are enjoying tremendous gains as well.

Back on Track 

Trading today involved watching your portfolio with your mouth agape, frozen in disbelief and it's a good feeling, especially after the massacre from January through March (unless you were playing for accumulation). Now that Spring has sprung things seemed to have turned around. For example, Ethereum (ETH) has broken above it's long and short term moving averages again. Classically, this indicates higher highs coming in the future and given the drastic and positive shift in sentiment over the past week this scenario becomes even more likely.

Why Ethereum (ETH)?

You may have noticed I keep mentioning Ethereum (ETH) and haven't really said much about big boy Bitcoin (BTC). After all Bitcoin is breaking out too, nearing the $9000 USD level where it is expected to break out further... But, here is why I am choosing to focus on Ethereum so much: The advent of the alt-coin. Over the past few years, and especially last year, more and more alt-coins have appeared. Some of them are just vaporware, or scams, or just plain bad. I mean this stuff is open source, anyone can do anything they want so you will end up with things like that.

However, there are a lot of great coins that are being heavily traded, and a vast majority of these have something in common, they are ERC20 tokens and rely on Ethereum (ETH) for liquidity. Let me repeat that, a vast majority of coins being traded rely on ETH!  Bitcoin (BTC) still enjoys a majority of the market capital as I pointed out previously, but that will shift.

I'm not sure if Ethereum (ETH) will ever overtake Bitcoin (BTC), as it remains the most recognized cryptocurrency and the most easily used as a form of payment, but ETH is set up to give it a good run for its money in the short term and beyond.

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Disclosure:

I have received no additional compensation other than the Ethereum that Hade Technologies pays to produce Exclusive content


Comments (1)

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  • ismoney
  • ,  Contributor
  • 25 April 2018, 10:04 am

Let\'s wait to see how long it will take.

   0   Reply (0)   Follow(437)  

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