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Why is Ethereum in a Sideways Market in 2020 (Ethereum Market)

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Why is Ethereum in a sideways market in 2020? The reason why Ethereum is in a si

Why is Ethereum in a Sideways Market in 2020 (Ethereum Market)

Why is Ethereum in a sideways market in 2020? The reason why Ethereum is in a sideways market is because of the high volatility of Bitcoin and other mainstream cryptocurrencies. Is 2020 a bull market? One of the reasons for Ethereum in 2020 is that due to the global pandemic and its impact on the economy, the global financial markets have been turbulent, and there is increased uncertainty about the depreciation of the US dollar. Throughout much of 2020, with the continuous development and maturity of the digital asset industry, investors have become increasingly concerned about the possibility of a significant increase or even a decline in Bitcoin prices. For ordinary investors, without additional funds entering the market, it is easy to incur losses. Why is Ethereum in a sideways market in 2021? On January 8th, Ethereum plummeted 20%, reaching a low of 42,000 points before rebounding. It has been in a sideways market since December, lasting for about 3 days. From February 18th to 22nd, Ethereum has been in a consolidation phase at a high level until the end of February when it rebounded. From 2:30 pm on January 9th to 10 am on January 20th, Ethereum experienced a small upward trend again. As of the time of writing, the price of Ethereum is 46.36 USDT. (Log in to the APP—Discover to view exclusive reviews of more cryptocurrencies.)

Why is Ethereum in a sideways market?

Why is Ethereum in a sideways market in 2020?

Ethereum market

According to the Huobi market, Ethereum has a slight increase today, reaching a high of 3528.42 USDT. On an hourly basis, yesterday evening at 8 pm, after Bitcoin’s price experienced significant increases in three large trades, it began to oscillate and fall back, and it started to rebound around 5 pm in the afternoon.

Looking at the daily chart, the recent Ethereum market has been maintaining a high level consolidation phase. As of 10:00, the specific performance of mainstream currencies is as follows: ETH is priced at 330.29 yuan (+0.09%); XRP is priced at 0.274 yuan (-0.25%); EOS is priced at $5.41 (+0.06%); LTC is priced at 61.38 yuan (-0.19%).

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