The Ethereum (ETH) market appears to be turning back in the direction of last year's lows after ending the previous two months with a gloomy outlook. After the SEC said it might be a security, the top smart contract network and the second-most valuable blockchain in terms of market capitalization are now subject to additional regulatory scrutiny in the US. Since other international markets employ a different strategy that involves a commodity, regulating Ethereum as a security would make the sector more complicated.
Ethereum Price Analysis -
The Ethereum market is about to undergo a dramatic capitulation below the FTX levels, claims CryptoCapo, a well-known and pseudonymous cryptocurrency expert. The analyst specifically stated that he expected the price of Ethereum to range between $550 and $650. After the Shanghai upgrade two months ago, a big resistance pressure developed at $2,041; the expert noted that Ethereum has to decline further to restore bullish feelings.
The smart contract market is dominated by the Ethereum (ETH) market, which has recently drawn more institutional investors. The crypto market, which already struggles with low traded volume and liquidity, could lose institutional liquidity as a result of regulatory uncertainty in the United States. This situation in US and SEC activities raises a concern on ETH price, but don’t worry expert analyst from Coinpedia keep eye on all news and updates and gives detailed Ethereum future price prediction (Reference - https://coinpedia.org/information/market-price-prediction-ethereum-2019/).
However, the implementation of explicit crypto regulations by other significant global markets, like as Europe, is a strong indication that adoption is close to becoming widespread. Furthermore, since the introduction of the burning system and the staking programme as a consensus mechanism, Ethereum has been hailed as being deflationary.