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Aeternity: Will We Have To Wait An “AE”Ternity?

By 01/16/2019 No Comments


Ethereum could be in trouble, as an important upgrade has been delayed for a last-minute security fix. That’s bad news, but it could present a big opportunity for other platforms. Today we’re going to talk about Aeternity, a smart contract platform that wants to take Ethereum’s place. But, the question is,  will we have to wait an “AE”Ternity for it to show signs of recovery?

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Aeternity (AE) Fundamentals

Ranked 40 based on market capitalization, and up 23% on Wednesday, Aeternity uses mining, like Ethereum. But unlike Ethereum, Aeternity’s mining algorithm is extremely efficient, allowing fast thousands of transactions per second. They’ve also taken advantage of some of Ethereum’s hard lessons.

Aeternity is designed for decentralized oracles, allowing programs to access data from the real world in a decentralized way. That could be a big improvement over other blockchains. Many projects are struggling to find ways to integrate real-world data.

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AE/BTC Technical Analysis

Despite all this, Aeternity’s token, AE, spent the last whole month hanging around its all-time low level. However, as Ethereum struggled to make any gains in the past couple of days, the trading crowd appear to have flocked to this wanna-be Ethereum token. This helped its price jump 23% in 24 hours.

Looking at the AE/BTC daily chart, the pair has even tested the upper band of the daily Ichimoku Cloud, an indicator we use to get a better understanding of the price action.

Aeternity- AE/BTC Ichimoku Analysis Technicals

Aeternity- AE/BTC Ichimoku Analysis

With this, if AE is able to break above the cloud, it might generate enough bullish momentum to reach the next resistance level at 23% Fibonacci level which traces the downtrend that started back in June 2018.

Pretty exciting stuff here and while we’re waiting (hopefully not an “ae”ternity) for AE to make its move, I’d like to hear from you. After you subscribe using the subscribe button below, head over to the comments section and tell me your forecast about Aeternity. Do you think it has what it takes to replace Ethereum? At what price point would you buy AE, and will you consider holding it long-term? I can’t wait to hear from you, and I’ll see you with more updates next time.

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Pretty exciting stuff here but of course, you need to only invest the money you can afford to lose in the volatile crypto markets and make your purchases proportionate to your risk tolerance. If you want to calculate your risk tolerance, head over to this MasterClass.

Remember that as the 4th point of the IDDA technique, you must calculate your risk tolerance before deciding on the investment strategy that is suitable for your portfolio. Don’t forget to complete your risk management due-diligence before developing your investment strategy.

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 While we’re waiting (hopefully not an “ae”ternity) for AE to make its move, I’d like to hear from you. After you subscribe, head over to the comments section and tell me your forecast about Aeternity. Do you think it has what it takes to replace Ethereum? At what price point would you buy AE, and will you consider holding it long-term? I can’t wait to hear from you, and I’ll see you with more updates next time.

Invest responsibly,

Kiana

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