Ethereum has experienced a momentary lift in sentiment today following a 3.31% move to the upside.
At the time of writing it is trading at $2,700 as the crypto market extends a recent bounce on the back of peace talks between Russia and Ukraine.
The Federal Reserve is expected to announce a rate hike later today, the severity of which looks set to determine the direction of the market for the duration of the week.
A rejection and subsequent lower high in the $2,850 region could be catastrophic for Ethereum, with downside targets remaining at $2,350 and $1,700.
Much of it will depend on the direction of Bitcoin, which is back trading above $40,000 following a week of consolidation around $39,000.
Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldn’t get buy-in to his proposal.
More Ethereum news and information
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