{"id":382607,"date":"2019-05-16T18:00:22","date_gmt":"2019-05-16T18:00:22","guid":{"rendered":"https:\/\/wncen.com\/?p=382607"},"modified":"2019-05-16T16:54:42","modified_gmt":"2019-05-16T16:54:42","slug":"ethereum-bitcoin-goes-parabolic-push-300","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-bitcoin-goes-parabolic-push-300\/","title":{"rendered":"Ethereum (ETH) Goes Parabolic After Bitcoin, Looks To Push $300"},"content":{"rendered":"<ul>\n<li><em>Ethereum (ETH) add 55 percent in the last week<\/em><\/li>\n<li><em>Cryptopia folding explains exchanges should be after verticals, not listing and trading fees<\/em><\/li>\n<\/ul>\n<p><em>According to Vijay Boyapati, exchanges are walking the wrong path of short-term profitability over future dominance better exemplified by Cryptopia decision to list as many as coins\/tokens as possible before falling prey to hackers. Meanwhile, Ethereum (ETH) bulls are rampant, stepping on the gas pedal with targets at $300 and $400.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>By design, blockchain and related businesses should function in a decentralized manner. That is, all operations are transparent with the end user as makers.<\/p>\n<p>However, that is not the case. The total crypto market valuation exceeds $130 billion, and aside from OTC players, the majority of crypto trading is from centralized crypto-to-crypto or crypto-to-fiat exchanges. Any form of coin or token deposit is a forfeiture of control&#8211;the epicenter of all problems.<\/p>\n<p>Learning from Cryptopia which is folding as a result of a damaging hack, a critic is now after the general operating model of crypto exchanges. While acknowledging that they play an essential role, providing liquidity for digital assets, their decision for short-term profits will harm them in the future.<\/p>\n<blockquote><p><em>&#8220;Five years from now it will be widely recognized that the major financial players in the &#8220;cryptocurrency space&#8221; (mostly exchanges) made a strategic error in pursuing a horizontal business opportunity rather than a vertical one.&#8221;<\/em><\/p><\/blockquote>\n<p><a href=\"https:\/\/twitter.com\/real_vijay\/status\/38668288\" rel=\"nofollow\">Adding<\/a> that crypto-companies going for the vertical will, in the long-term, rake in big as industry leaders:<\/p>\n<blockquote><p><em>&#8220;In the next few years, I believe it will become obvious that those companies that pursued the long-term strategy of financialization atop Bitcoin will be the strongest (perhaps only) players left in the space. They will become the JP Morgans of the 21st century.&#8221;<\/em><\/p><\/blockquote>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\" wp-image-382600 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-16.png?resize=785%2C627\" alt=\"Ethereum ETH\" width=\"785\" height=\"627\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-16.png?w=1280 1280w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-16.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-16.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-16.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-16.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ethereum-Daily-Chart-May-16.png?w=1140 1140w\" sizes=\"auto, (max-width: 785px) 100vw, 785px\"><\/p>\n<p>Up 13.5 percent and 55 percent in the last day and week, Ethereum (ETH) expansion means it is the top performer in the top 10 cryptocurrencies, tying with Stellar Lumens (XLM).<\/p>\n<p>However, there&#8217;s more. Because of gains seen during the New York (American) and Asian, our targets have been hit as bulls take charge, thrusting prices to new 2019 highs. In a classical bull breakout pattern, all pointers point to further upsides.<\/p>\n<p>Fanning these streams of buyers are supportive fundamentals and favorable candlestick arrangement pumping ETH as momentum build up. As a result, every low above $190 will be another buying opportunity with targets at $300, $400 and $450 in line with our last <a href=\"https:\/\/wncen.com\/2019\/05\/15\/ethereum-eth-bulls-rebuff-cryptopia-liquidation-race-to-450\/\" target=\"_blank\" rel=\"noopener noreferrer \">ETH\/USD trade plan<\/a>.<\/p>\n<h2>Technical Indicator<\/h2>\n<p>Our reference bar is May-15 bull bar. The bar is wide-ranging with high-volumes\u2014537k. Therefore, any drop reversing and signaling a correction below $190 must be at the back of similar or better participation. If not, buyers would still be in control from an effort versus result point of view.<\/p>\n<pre><a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\"><em>Chart<\/em><\/a><strong><em> courtesy of Trading View.<\/em><\/strong><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum (ETH) add 55 percent in the last week Cryptopia folding explains exchanges should be after verticals, not listing and trading fees According to Vijay Boyapati, exchanges are walking the wrong path of short-term profitability over future dominance better exemplified by Cryptopia decision to list as many as coins\/tokens as possible before falling prey to hackers. Meanwhile, Ethereum (ETH) bulls are rampant, stepping on the gas pedal with targets at $300 and $400. Ethereum Price Analysis Fundamentals By design, blockchain and related businesses should function in a decentralized manner. That is, all operations are transparent with the end user as makers. However, that is not the case. The total crypto market valuation exceeds $130 billion, and aside from OTC players, the majority of crypto trading is from centralized crypto-to-crypto or crypto-to-fiat exchanges. Any form of coin or token deposit is a forfeiture of control&#8211;the epicenter of all problems. Learning from Cryptopia which is folding as a result of a damaging hack, a critic is now after the general operating model of crypto exchanges. While acknowledging that they play an essential role, providing liquidity for digital assets, their decision for short-term profits will harm them in the future. &#8220;Five years from now it will be widely recognized that the major financial players in the &#8220;cryptocurrency space&#8221; (mostly exchanges) made a strategic error in pursuing a horizontal business opportunity rather than a vertical one.&#8221; Adding that crypto-companies going for the vertical will, in the long-term, rake in big as industry leaders: &#8220;In the next few years, I believe it will become obvious that those companies that pursued the long-term strategy of financialization atop Bitcoin will be the strongest (perhaps only) players left in the space. They will become the JP Morgans of the 21st century.&#8221; Candlestick Arrangement Up 13.5 percent and 55 percent in the last day and week, Ethereum (ETH) expansion means it is the top performer in the top 10 cryptocurrencies, tying with Stellar Lumens (XLM). However, there&#8217;s more. Because of gains seen during the New York (American) and Asian, our targets have been hit as bulls take charge, thrusting prices to new 2019 highs. In a classical bull breakout pattern, all pointers point to further upsides. Fanning these streams of buyers are supportive fundamentals and favorable candlestick arrangement pumping ETH as momentum build up. As a result, every low above $190 will be another buying opportunity with targets at $300, $400 and $450 in line with our last ETH\/USD trade plan. Technical Indicator Our reference bar is May-15 bull bar. The bar is wide-ranging with high-volumes\u2014537k. Therefore, any drop reversing and signaling a correction below $190 must be at the back of similar or better participation. If not, buyers would still be in control from an effort versus result point of view. Chart courtesy of Trading View.<\/p>\n","protected":false},"author":384,"featured_media":344602,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,1946,2887],"class_list":["post-382607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-market"],"acf":[],"yoast_head":"\n<title>Ethereum (ETH) Goes Parabolic After Bitcoin, Looks To Push $300<\/title>\n<meta name=\"description\" content=\"Backed by sound fundamentals, rise of Bitcoin (BTC), Ethereum (ETH) bulls are firm with drivers aiming at $300 and later $450.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum (ETH) Goes Parabolic After Bitcoin, Looks To Push $300","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-bitcoin-goes-parabolic-push-300\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-bitcoin-goes-parabolic-push-300\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth6-bullish.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth6-bullish.jpg?fit=1200%2C650"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","market"],"dateCreated":"2019-05-16T18:00:22Z","datePublished":"2019-05-16T18:00:22Z","dateModified":"2019-05-16T18:00:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum (ETH) Goes Parabolic After Bitcoin, Looks To Push $300\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-bitcoin-goes-parabolic-push-300\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-bitcoin-goes-parabolic-push-300\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/08\\\/techanalysis-eth6-bullish.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/08\\\/techanalysis-eth6-bullish.jpg?fit=1200%2C650\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"market\"],\"dateCreated\":\"2019-05-16T18:00:22Z\",\"datePublished\":\"2019-05-16T18:00:22Z\",\"dateModified\":\"2019-05-16T18:00:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth6-bullish.jpg?fit=1200%2C650","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/382607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=382607"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/382607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/344602"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=382607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=382607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=382607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}