Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Cryptocurrency Price Speculations => Topic started by: AntNail on September 22, 2018, 10:35:05 PM
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A sell-off sent the ethereum price plunging below $300 on Monday, forcing the second-largest cryptocurrency to its lowest mark in more than nine months.
Ethereum had traded as high as $323 earlier in the day, but a flurry of sell orders began to pummel the market at approximately 15:00 UTC, driving ETH closer and closer to $300, a level it had not touched since 2017.
Notably, this decline has not just occurred against the dollar, as the ethereum price has also cratered against bitcoin. Just six months ago, ETH was valued at just under 0.1 BTC. Now, it’s priced at less than half that mark and shows no signs of finding its footing as bitcoin continues to gobble up market share. At a present value of 0.047, ETH/BTC is now trading at levels not seen since mid-December, when the bitcoin price went parabolic and briefly peaked at $19,891 on Bitfinex. It’s not entirely clear what drove the sell-off, which is disproportionately large compared to the minor declines exhibited throughout the majority of the rest of the cryptocurrency market.
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it is absolutely true that ethereum experienced a deep decline, but I don't think it will be long enough to return at a higher price, and I think that could happen later this year.
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Indeed, in the last few months, starting from the beginning of the year until the beginning of this month, Crypto, especially Ethereum, has worsened its market conditions. But all that we cannot avoid and must remain confident that Ethereum will begin to rise again. And now it's a great start for Ethereum. Because in the past few days Ethereum experienced a good increase and made me happy. Hopefully in the future the increase will continue to exceed $ 300 USD.