Bitcoin pulls cryptocurrencies to the bottom
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| Cryptocurrencies |
"Cryptocurrencies" continue to trade at a low level in the forest compared to what they were two months ago and are at the peak of their brilliance, as the price of Bitcoin fell today “Bitcoin” with the beginning of today’s trading and reached $32183 after the cryptocurrency was trading at $34497, while It is trading at $32979 levels at the moment.
In the same context, most digital currencies continue to decline since China tightens the screws on Bitcoin miners.
Ethereum currency analysis and hard fork effect
We find that the Ethereum currency, symbolized by ETH, has witnessed a strong decline at the beginning of trading today as a result of the pressure of sellers on it, as the price of the currency fell from 2359 dollars and reached the level of 2157 dollars, and it is currently trading at levels of 2156 dollars.
We find that the Ethereum hard fork is expected to be launched on August 4, 2021, and the fork is expected to take place at block 12,965,000.
The price of Ethereum will be strongly subject to the spotting phase, as the transition is unlikely to be very smooth and during that time, the price will be more volatile than ever.
Some believe that there are opinions regarding the hard fork process, given that the burning mechanism has an impact on speculative operations, as the price of Ethereum is expected to rise strongly during the first days of the network transformation, and the supply will decrease constantly.
Others also predict that there will be problems with the so-called staking and the coins start to go out of the network after the downtime period ends, the price will fall negatively, and may even stagnate.
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