Ethereum Faces Weekend Rout, But Some See ETH Doubling From Here – Forbes

Ethereum Faces Weekend Rout, But Some See ETH Doubling From Here – Forbes


Ethereum, the most traded cryptocurrency after Bitcoin, had a bad weekend. Fear not, crypto bulls. The market is still bullish long term for ETH. That seems to be the consensus. Marc Cuban says it even “dwarfs Bitcoin.”

“There was a relentless spot bid in ETH for several week but open interest has only recently started to track with the increase in price, meaning there are less over-levered positions, relative to what you’d expect after such a strong rally,” says Andrew Moss, Managing Director of GSR Capital. “This dynamic is similar to the price action we saw in December and January for Bitcoin,” he says, looking for an explanation for Ethereum’s Dogecoin-like gains.

A chink in the armor came last week and into this weekend, primarily due to Elon Musk Source…