Ethereum has had a rough road and just the other day I wrote about the delay on the biggest update to the blockchain we have been waiting for till possibly Q1 of 2019 (only 4-6 months away!)
A new company released the ability to create shorts on Ethereum and guess what?
Huge levels of shorts have been happening on Ethereum
We also saw this happen with bitcoin and guess what the bulls kicked their butt and those people lost a ton of money.
Are we going to see this happen again with Ethereum ?
I honestly think yes as the core people that own most of it don't like seeing this junk shorts that keep popping up all over the place from traders who just don't get it.
I have a feeling Ethereum will hold steady if not increase in price a bit as we start moving towards the release of one of the biggest updates ever called Constantinople which is what many of us have been waiting for all year. Its really going to open up dDapps and allow to more programs then ever to start tapping into blockchain more easily.
People have already lost a lot of money on Ethereum because Facebook & Google banned all cryptocurrency related ads which made it a lot harder to get new users for dApps and raise money in ICOs.
It turns out that this was illegal and now there is a class action for everyone in crypto to recover their losses.
You should check it out. It is free and you're not named in any court papers.
https://www.jpbliberty.com/class-member-signup
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Ah Facebook ads blow and so does Google there are so many other better ways to promote something honestly
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Key note: Constantinople doesn't really scale Eth that much directly. What it does(aka more time) lead to making sharding(coming 2020) to be made "safe" and plasma chains to be made aka thing of Loom network but with Loom tokens and more "trustless". True Plasma chains will be interesting to see be added, the only other type of sidechain tech that exists is Drivechains. POS wasn't really needed if you look at the tech side but POS would lead to better governance(which will lead to decentralization but more order). POW is a chaos based system where no side has power and as such one simple upgrade took 2 years to add....
POW on a money level is awesome but on a platform level...? It could work platform level but needs a lot of work to be done :P
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This is true but still it starts to open the doors and I am sure some people will start taking advantage of it early.
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I just tell people go to steem and EOS 😂
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Truth lol
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ETH is the king of smart contracts and dapps like Bitcoin is the king of cryptocurrencies. While they have some good competitors like EOS and Cardano, Ethereum is going to continue to dominate, and price will reflect it, we just have to wait for it's time to shine :)
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Short seller are good for the market as they add liquidity so its not a bad thing. I think that futures will also be released soon so it was going to happen at some point. Fundamentals is what will drive value at the end if the say so time will tell.
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If people start selling and the drop in price occurs. It is a great time for those of us who do not sell. We can pick up a few more coins on the the cheap. Hate those short sellers but there in stocks to. Just hope ethereum makes a nice rebound next year !
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