Ethereum's Fork and Market
What Happened Yesterday?
Ethereum’s upgrade Constantinople was delayed due to a critical vulnerability. As a consequence, many people opened short positions. This piece of news facilitated the market’s plummeting — and the FUD spread in crypto chats very quickly. The source of information — coindesk.com. Previously CEO Ethereum Vitalik Buterin accused this media of promoting scams and disseminating unreliable information about Ethereum’s fork.
One interesting fact: the news about fork’s delay was posted only 3 min after the start of market’s tumbling. Looks like someone used insights.
As a result, Ether plunged by 12,5%
In fact, it is no big deal. Right now the developers are fixing the problem. It’s a pity that they found it out at the last moment but it is still better than launching an update with bugs. There is a strong possibility that we will see the fork one week later and an update will be activated, let’s say, in a block 7,200,000.
If you bought some ETH before the fork, keep calm and hodl. Ethereum is likely to go up in a while.