Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: MaluWang on October 09, 2018, 03:45:16 PM
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Ether (ETH) prices “capitulating” in September was “significant” to ending the 2018 cryptocurrency bear market, according to a new theory from one cryptocurrency analyst.
In a series of tweets, UTR Equity’s crypto market commentator Eric Thies postulated that Bitcoin’s run to all-time price highs in December 2017 came as a result of Ether investment during the ICO phenomenon.
When interest slowed, so too did prices begin to freefall — Bitcoin reaching lows below $5900 in February this year and Ether below $170 in September.
“(Bitcoin’s) run in the end of 2017 was fueled by a MASSIVE ICO (ERC20) bubble and therefore indirectly fueled via ETH. Meaning that ETH capitulating in early Sept was significant to ending the bear market,” he wrote, noting the concept was a “theory.”
“We were all looking in the wrong place, expecting (Bitcoin) to do it.”
Read more, https://bitcoinist.com/ether-september-price-lows-could-signal-end-of-bitcoin-bear-market-analyst/