RATE Group | Ethereum (ETH) Gets Mauled by Worsening Sentiment, Bitmex Short Selling
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Ethereum (ETH) Gets Mauled by Worsening Sentiment, Bitmex Short Selling

12 Sep Ethereum (ETH) Gets Mauled by Worsening Sentiment, Bitmex Short Selling

Posted at 11:40h in Ethereum News by

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The ETH market crashed after a remark from Vitalik Buterin got misinterpreted as pessimistic about the future growth prospects of Ethereum and the crypto space.

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Ethereum (ETH) remains caught in a downward trend, with several short-term and longer-term factors depressing the price. ETH touched lows of $180.60 on September 11 and continued to slide closer to $170. As of 9:00 UTC on Wednesday, the asset traded at $171.73.

Because of incomplete statistics, not all exchanges are factored into the data for Ethereum trading. However, there are indications that trading on Bitmex contributes to tanking ETH through short positions. Coinmarketcap does not currently reflect Bitmex statistics, but CryptoCompare shows that more than 16% of ETH trading happens on “Other” exchanges.

https://twitter.com/CDCryptoInvest/status/1039744016106115072

The biggest speculation in ETH and the sell-off happen in dollar-denominated positions, with a subsequent fall against Bitcoin (BTC). As ETH is seen…

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