Ethereum price (ETH) has halted its upward trend, highlighting that confirmation bias is a dangerous thing. Let’s take a look at the current situation and where ETH/USD may be headed next.
Ethereum Price Stirs Bears
While the general market set up was bullish up till this morning, the echo chamber of bullish news and moon sighting technical analysts coming from all angles seems to be generating a bit of confirmation bias within the crypto community. Hopefully today’s Ethereum price pullback will serve as a reminder that just because everyone says it is so doesn’t make it so.
On the BUIDL side of things, partnerships, new developments, protocol upgrades, and mainstream adoption just keeps chugging along strong and this is great for the everyone, technologists, and speculators included. Investors seem to be playing whack a mole with the hottest altcoins and Ontology, LOOM, Enjin, BAT are all evidence of this.
BTC price stability around $4,000 is providing lucrative opportunities for those trading BTC/Altcoin pairings…