In upcoming year-2020, we have many reasons to Ether’s bullish price trend. Ethereum’s price rollercoaster during 2019, we assess the underlying driving forces and growing pains in 2020 that lie ahead as the network switches from 1.0 to 2.0.

As DeFi has been striking the chord among the largest crypto companies, huge money is flowing in decentralized finance (DeFi), and most importantly, many platforms built on Ethereum.

Subsequently, we verify the fundamental metrics driving price and assess their implications for the future of the Ethereum network.

ETH has been resistance to the downtrend as the Ethereum 2.0 is officially gone live and it has been surpassing the 9,069,000 blocks in its Istanbul hard fork.

In addition, Fidelity Investments’ crypto chief, Tom Jessop, Fidelity Digital Assets, has announced that he intends to adding support for Ethereum in 2020.

The Wall Street veteran, Jessop, is set to add on his experience to the relatively-new crypto services arm of Fidelity, claimed in the interview that his team has “done a lot of work on Ethereum.”

Commodities and Futures Trading Commission (CFTC) chairman ​Heath Tarbert suggested in October 2019 that the US regulatory body has to consider ETH as a commodity. Tarbet said that he expected regulated ETH futures in as soon as six months.

Speaking a month later at Consensus Invest: NYC​, Tarbert explained that the CFTC, and its sister body, the Securities and Exchange Commission (SEC), were now carefully studying the implications of the upcoming Ethereum 2.0 chain switch on ETH’s asset classification.

Thus, all these underlying factors drive us for in-depth analysis on Ethereum’s seasonal characteristics and use the Hurst exponent to tease out a likely trajectory in 2020.

ETHUSD (at Bitfinex) has been showing resistance after a resounding consolidation phase after bearish rout seen in 2018.

Technically, although the minor trend goes in little bearish mode, we’ve had considerable rallies spiking above 21-EMAs upon stern bullish engulfing candle at $129.61 levels, consequently, the price of ether against dollar has surged more than 340% in 2019. But the minor trend failing at 21DMAs, any bounce back above 21-DMAs signal renewed upside traction.