The last couple of months has had a massive negative impact on the crypto market. The volatility of crypto prices leaves crypto investors in such great chaos. One of the two greatest cryptos, Bitcoin and Ethereum are also faced with a never seen situation. For the bulls and investors, this marketing up and downs are like a challenging task and they are finding out whether to invest or wait. As the resistance phase is not propagated till now. Also, Ethereum was trading within an ascending triangle pattern which became the root concern of the investors.
Yet the Ethereum investors might experience relief in this chaotic situation. The Bitcoin bull Michael Saylor’s comment on the Ethereum market has converted the chaos into attention!
Why Ethereum Investors Might Experience Relief Amid Recent Chaos?
There are mainly two aspects to anticipating this upcoming situation. First is Ethereum’s co-founder, Vitalik Buterin’s statement and the last one is Saylor’s comment.
Vitalik Buterin has recently stated that the negative graph will be converted into progress within August. His respiting statement gives temporary relief to the Ethereum investors.
Next is the Bitcoin bull, Michael Saylor’s opinion. Mr. Saylor believes Ethereum is one of the renowned cryptocurrencies in the whole crypto market for its liquidity. Only Ethereum can change over the years. The rigorous software update in its network has turned it into security. According to Saylor, Ethereum will be the future of cryptocurrency.
These two statements mainly keep the market quiet. Though the price of the crypto market is randomly moving in negative marks.
Should It Be The Right Time To Invest In Crypto Now?
The last two months have already been a cold stagnant period for the crypto market of all time. A negative remarkable phase is faced by the bulls and investors. Though according to the saying, ‘buy low, sell high’, this situation is not an exception to the words. By analyzing the price the right decision can be taken by a smart investor. The resistance phase is crucial to taking any steps further in it. Without a resistance price, the anticipation or business strategy cannot be made smartly.
As of the time of writing this article, Ethereum is currently trading at $1491.82. Whereas Bitcoin trades at $22876.90. A smart investor can find the right path to choose. Now it depends on buying or selling strategy. The price of the two cryptos states that Bitcoin is at a high rate. This means the demand increases more than the supply. But in Ethereum, it is quite a low rate. It refers to the supply being adequate accordingly.
investors have to identify their strategy and need to find the exact steps to take. Buying crypto can be risky because of the high price. Whereas it is good to sell. But a smart strategic investor for his or her long planning schedule can perform through various tactics.
Does Resistance Phase Help?
According to experts, observing the crypto market situation, a resistance phase is needed before investing. A temporary stable price rate helps to implement the planning. It is assumed that Bitcoin might attain resistance at $900. Though Ethereum’s resistance phase is not anticipated yet. But the market graph is indicating not to go ahead until it attains resistance at $1500. It is assumed that it can be a bull run sooner.
For a smart, regular investor, this phase can be utilized phase. Planning and high-quality strategy can lead the investor into the bull run participatory stage. Also, the co-founder’s statement along with the outsider crypto investor Saylor’s positive assumption are such a powerful indicators of every Ethereum investor.