Ethereum is in a very dangerous situation. Its fate may be in the hands of the U
Ethereum is in a very dangerous situation. Its fate may be in the hands of the U.S. Securities and Exchange Commission: is it a security or a commodity? Is it decentralized enough?
Although the industry has figured it out, there will never be a rebound in ETHUSD, or the risk of catastrophic collapse of the second largest Cryptocurrency by market value will increase
Will the Cryptocurrency massacre lead to the collapse of Ethereum?
Recently, Ethereum and many other counterfeit currencies have been severely hit because of the enforcement action taken by the U.S. Securities and Exchange Commission (SEC) against the top Cryptocurrency exchange. Although Ethereum is not included in the list of Cryptocurrency marked as securities, the market is doubtful whether it will appear in the list of SEC. Due to the recent change of proof of equity, Ethereum is not as "secure" as Bitcoin in terms of regulatory review. However, according to the latest Hinman document, it can be said that Ethereum has sufficient decentralized characteristics, which may become a key factor to measure its security.
Why ETHUSD is at a critical turning point
Under the current circumstances, the technical price rebound of Ethereum has become necessary, otherwise it may face the risk of total collapse. If the wedge shape of long-term rise falls below the current level, it will pose a risk to Ethereum. On the contrary, if the level remains unchanged, the top trend line of the wedge pattern will be around $10000 per token.
From a risk and return perspective, the stakes are high now. Ethereum may set a new record, or usher in an unprecedented new low and the worst bear market. All of this depends on the current mode and situation. As the liquidity of the Cryptocurrency market is low, the regulatory environment is uncertain, and economic turbulence is everywhere, the negative verdict of the XRP case related to looseness may eventually have a negative impact on Ethereum. However, Ethereum may avoid a disastrous trend if risk appetite returns, interest rate hikes are suspended and positive decisions are made in the XRP case or other aspects of the SEC drama.
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
