Ethereum Futures constructive for counterpart and destructive for underlying.
Many analysts began to consider that the launch of the derivatives market for Ether will likely have divergent consequences on the price trajectory of the two main cryptocurrencies.
To corroborate this position, Tom Lee, managing partner of Fundstrat Global Advisors, believes that Ether futures trading will alter the market price narrative.
Last December was a memorable month for Bitcoin, and investors were able to access Bitcoin for the first time indirectly through futures and options available through CME and CBOE.
That is when BTCUSD increased to a high value never seen in a long time, reaching maximums of $ 19k. But keep in mind the oscillation of prices, the price drops from the highs of $ 19,697 to the recent minimums of $ 5,755, and is currently trying to recover again.
In the midst of this price evolution, hedge funds flows have entered into cryptocurrencies that had an average yield of 1,522% this year, compared to an average of 7.2% for hedge funds invested in asset classes. conventional
CEO Lee also commented more, since December, if one goes down in any aspect of cryptography but did not want to have the underlying, it could abbreviate BTC. Now they can shorten ETH, it means that the short network in BTC in futures will fall.
ETHUSD forms a downward trend towards the envelope, pendant and doji gravestone with prices ranging from $ 295.72, $ 296.88 and $ 297.05, this is a daily information.
After these consecutive downward formations, the price remains consistently below the 7EMA levels, it is a very important information, while the leading and lagging indicators indicate strength and continuity of trend in the downward oscillations, for now we could foresee further crashes in the bearish EMA AND MACD crossovers.
Ethereum does not seem like it was before, it started with a true downward market when it returned to the lowest levels since the fall of 2017, after rising to more than $ 1,300 and dropping to almost $ 400. The core developers of Ethereum do not seem be closer to reaching an agreement on the future direction of the projects.
In general, the main trend of ETH remains difficult and has also lost considerably since its high BTC prices last summer, 50% from 0.15 BTC to 0.073 BTC.
The cryptocurrencies ecosystem have a very particular behavior, prices oscillate almost unusually, the important thing is to generate confidence, as regulators consider the possibility of restricting or openly regulating cryptocurrencies, there is an instantaneous reaction, for that reason , the blockchain-bitcoin technology has all the possibilities to help and maintain an environment conducive to grow in use and adoption. It waits for new ads.
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