Ethereum Has Been Sidewaying For Now Months – Trustnodes

Ethereum Has Been Sidewaying For Now Months


Ethereum has gone up and down since March, but in the end it hasn’t ended up far off in June from where it begun, with the crypto so trading at $600 three months ago, and trading at $600 right now.

If we wanted to be slightly coy, we could say it has been sidewaying since December, when it first reached $600. It then rose to $1,400, fell to $350, up to $800, then decided to keep hugging $600.

Ethereum’s current price on weekly candles.

The new 42? The new Spartans? Maybe. Kids talk about some Bollinger Bands (BBands), an esoteric science within the field of tea leaf analysis. Apparently that’s very tight, so it should pop, according to the mystics.

Which way, even they don’t know, except a consensus seems to have been reached that it will be either up or down. Quite an achievement considering that the “or a straightline” has now been taken off the table by la priesthood.

“I signed up for big drops which make me sad and small climbs which make me happy. What is this?” – an etherean says. “What is this, volume for ants?” – another one jibes.

Past 24 hour eth volume of $1.5 billion does not seem that bad, but global trading volumes of $12 billion were last seen around March in a back to the future event.

“I take the current sentiment as ‘not even the bot traders have any clue wtf is going to happen,’” says another ethtrader. And if even the bots don’t know, then how can we mortals have a clue about anything.

SEC, Chyna, ICOs, sharding, national politics… nah, let’s build an even bigger picture. No daddy please. Wa… someone has to.

In ancient times, a woman rose and said: this is the blockchain. The aristocrat, of high family, grabbed the attention of everyone. A blockchain, someone whispered. What’s a blockchain, whispered another one. A chain of, a block of chains? Said another.

The zu zu zu started getting louder, blockchain this, in some corners, blockchain that, in some others, blockchain, blockchain, they all merged, blockchain chorus in all earth.

Then, as mad as they all became, sane at once all turned. But in some corners still the chorus runs along. Two trillion by 2020, eccentric lots. Mad-man, say the “sane” ones.

And yet the air has become electric. Anticipation for 2020 feels like the booming optimism that welcomed the new millennium. A new world is there, all are told. A promised land for our sons and women bold.

And since dreams can sometime turn to nightmare frighten you we shall by wondering whether planes will fly again, or whether this time, we will have that millennium we wanted.

The world, that is, the big picture, and some say we’re at the heart of it all, of a change in global… feels. Modestnodes would place that prestige on the feet of towering intellectual achievements by figures that history will not forget, that lived or live during the past fifty years.

For we, the actors, are still spectators. And what’s the show? That, time will tell. But if we were to be honestnodes, we can argue we would enjoy far more this look at the green and pleasant land, than the party that may follow.

For once we’re there, we may get bored of it eventually in two decades or more, but the anticipation of the destination may give us the biggest party yet and the biggest upgrade of man.



Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>