Ethereum Price Rallies 15% In Two Days, Nears Resistance Zones

Colin Muller

Ethereum (ETH) is starting 2019 with some welcome gains, climbing about fifteen percent since the new year to $152 at time of writing. ETH has also regained its number two spot in terms of market capitalization rankings, after being recently knocked off by XRP.

Ethereum Price, ETHUSD CryptoCompare Chart

The climb above $150 comes after a brutal fall to double digits during December, when the price of ether dove as low as $80. It has taken only about two weeks to complete the roughly 90% climb back into triple digits.

Ethereum’s rally could face resistance between $170-185, which zone served as support in November during ether’s trip down to double digits.

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Ethereum Winter

Ethereum, both as a project and as a digital asset, has taken a shellacking during 2018 along with the rest of the cryptoasset industry. The price of ether declined almost 95% during the year, from roughly $1400 during January 2018.

Consensys, the Ethereum dApp incubator, has recently restructured its management strategy in a bid to be more productive and deliver useful (and profitable) Ethereum dApps. The company also fired thirteen percent of its quite large workforce - at one time numbering over 1000 - presumably feeling the pinch of collapsing ether prices.

Vitalik Buterin, Ethereum’s boy-genius creator, recently took to Twitter to muse on being thankful for things he’s usually not thankful for. He cautiously praised both the fiat monetary system for doing “a reasonably good job of being stable,” and Donald Trump for supporting progressive criminal justice reform in the US.

Elon Musk Rejects Rumors on Plans to Use the Ethereum Blockchain

Francisco Memoria

Tesla and SpaceX CEO Elon Musk has recently revealed he isn’t using the Ethereum blockchain to build anything, and addressed his stance on the second-largest cryptocurrency by market capitalization.

Musk’s comments came in response to a tweet published by famous Hollywood actor William Shatner, who claimed last year Elon Musk was, along with Ethereum co-founder Vitalik Buterin, “deciding what to build on Ethereum.”

The Canadian actor, well-known for his role as Captain Kirk on Star Trek, has been a cryptocurrency proponent for some time, at one point even releasing his own non-fungible token (NFT). One year after he tweeted out Musk and Buterin were working on Ethereum, the CEO of Tesla replied.

In a single tweet, Musk revealed that he is not building anything on top of the second-largest cryptocurrency’s blockchain, nor is he “for or against it.” Shatner later responded to the CEO telling “I still love you even though you haven’t found blockchain technology fascinating.”

Musk has notably made various comments on the cryptocurrency space over time. As CryptoGlobe reported, earlier this year the CEO said crypto could be a replacement for cash. On numerous occasions, he teased the community on the microblogging platform, either tweeting about BTC or about Dogecoin.

In an odd tweet published in January of this year, Musk said “bitcoin is *not* my safe word.” While the tweet itself has never really been explained, over time the COE has said he is “neither here nor there on Bitcoin,” but that he did find the cryptocurrency’s whitepaper “very clever.” In another tweet, he revealed he “only” holds 0.25 BTC.

Featured image via Pixabay.