Ethereum Nears $400 – Trustnodes

Ethereum Nears $400


Astronauts splashdown, NASA, SpaceX, Aug 2 2020

Ethereum is up by 7% today on increasing unfiltered volumes of $14 billion giving it a market cap of now $44 billion.

Its hashrate is also finally rising a little bit to 200 terahashes from about 180, with its price of $394 now potentially making it profitable for gamers.

Which might mean nVidia and AMD could see some green too, as ethereum now nears the next resistance line at $420.

Ethereum nears $400, August 2020
Ethereum nears $400, August 2020

We zoomed in a lot to show just how much movement there has been today, with $370 holding after some weekend shenanigans.

This strong bounce back now might meet its test at $420 following rumors Musk has reached some deal to take it private.

Recently, however, ethereum has passed through some resistance lines like nothing. The taking of $300 for example was less a battle and more bears just saying meh, this ain’t going anywhere, why bova.

Disbelief is slowly giving way to optimism, and that brings in its own mechanisms, but somewhat slowly as it does kind of feel like no one quite knows yet just what is going on in this space.

Stocks are up. Economic crashes are of course for the plebs. Quite unfortunately that includes Lebanon which is in a terrible situation, and since it’s in EU’s doors, you’d expect Merkele to do something because this is a tiny country which through a small marshal aid plan can be made like Paris.

Generally however the middle class isn’t being affected too much economically because Trump bucks keep coming into bank accounts, into stocks, into gold, and of course into our own awesome space.

We might have to pay them back one day but economic theory has been turned upside down with the techies in the front line of a very peaceful revolution that includes astronauts in American soil once more (pictured), the biohackers trying to open those sort of guilds who might now get more backing after the atrocious way much was handled by the bureaucracy, and of course the young bankers in this space that are now finally beginning to see we may indeed digitize the financial economy.