Risk of Massive Crash: Ethereum Long Positions at Record HighAuthor: Ali RazaLast Updated: 17 June 2020 The Ethereum network’s Ether (ETH) tokens have recently experienced a parabolic rise in long positions. This, in turn, increases the risk of yet another violent market crash yet again, and only increases as the uncertainty surrounding the ETH 2.0 launch grows evermore.Warnings On The HorizonAs anticipation naturally grew for the long-awaited revamp to ETH 2.0, the long positions of Ether have risen in a parabolic rate within the Bitfinex exchange. The critical thing to note is these long positions have been increasing ever since February this year.However, short positions have been on the rise, as well. With Vitalik Buterin, the co-founder of Ethereum, withdrawing the confident prediction he had made that ETH 2.0 would launch in July, the massive bullishness is posing a significant risk. Simply put, the chance of a violent sell-off toppling the value of Ethereum is growing higher and higher.An Explosive MixtureLong positions have been breaking past record highs ever since it charted above 600,000 back in February this year. During the past two months, however, the long positions have risen another staggering 150%. This happened despite a historic sell-off of Bitcoin Profit that occurred during the COVID-19 market crash during the 12th and 13th of March.It should be noted, however, that March has seen a massive upwards trend in short positions on ETH, as well, going up almost 200% from the record lows of February. This is a grim omen, as it suggests that a group of ETH traders is now banking on the price of Ether to fall, as well.Another massive risk is the recent confusion when it comes to the ETH 2.0 launch date. With the rising uncertainty, it could serve as the catalyst for a vicious correction process should the price actions start to break down.Some BacktrackingOn the 12th of May, 20202, Buterin was asked a question: Would the Phase 0 of ETH 2.0 start in July of 2020? In response, he stated that he thought so, citing the two testnets that were launched in ETH 2.0 a week prior: Schlesi and Topaz. According to Buterin, this will be the first phase of ETH 2.0 that will provide the implementation of Proof-of-Stake technology, and will do so moving forward.However, Afr, a core developer of Ethereum, was quick to play down expectations on twitter.Going on stages or panels and putting out dates is not helpful at all. I don't think Vitalik said July. But I didn't see the talk.— Afr Schoe ⚡ (@a4fri) May 12, 2020He stated that there were no helpful contributions to be made by putting out dates during talks, throwing doubt about whether or not Buterin said if it occurred in July.Buterin, in turn, agreed that he didn’t say July, saying he maybe didn’t hear July when the question was asked. Upon reviewing the footage, Buterin admitted that he should definitely have heard July in the question, but didn’t. Thus, he apologized for his own misunderstanding.Whether or not that’s true or if they’re just backtracking is unclear, but ETH stands at a volatile point in the market, regardless.