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Cryptocurrency Price Speculations / Re: Why ETH is down?
« on: December 10, 2018, 11:21:12 AM »
Ethereum is one of the largest cryptocurrencies in the world by market capitalization and is facing major devaluation as its value has been dropping at a major scale since last month. The gap between Ethereum and Bitcoin seems to be growing larger, with Bitcoin on 5% growth for the last month and Ethereum continues to fall rapidly.
Let's see the factors that led to the downfall of Ethereum -
1) Firstly, the introduction of a new BitMEX - ETH perpetual swap contract, which allowed traders to shorten the price of ETH with up to 100x leverage in a similar manner like the XBT (BTC) BitMEX contract. Although this has not been confirmed, this statistic has led to the speculation that the arrival of the contract allowed pessimistic investors to weigh down on the price of ETH.
2) The ICO sell-off factor, with many traders claiming that projects have begun to liquidate their war chests, that are often full of Ether, into fiat, leading to the current collapse of the market, not only ETH.
Even though the Ethereum price has declined, 2019 looks bright for Ethereum as HTC Blockchain Phone Exodus 1(which is only accepting Bitcoin and Ethereum) is expected to launch on December 29,2018. The Ethereum price is expected to reach around $1450 in 2019.
The live eth to btc price chart gives the progress of Ethereum over Bitcoin. Also, it helps us to keep track of the daily Ethereum price.
Let's see the factors that led to the downfall of Ethereum -
1) Firstly, the introduction of a new BitMEX - ETH perpetual swap contract, which allowed traders to shorten the price of ETH with up to 100x leverage in a similar manner like the XBT (BTC) BitMEX contract. Although this has not been confirmed, this statistic has led to the speculation that the arrival of the contract allowed pessimistic investors to weigh down on the price of ETH.
2) The ICO sell-off factor, with many traders claiming that projects have begun to liquidate their war chests, that are often full of Ether, into fiat, leading to the current collapse of the market, not only ETH.
Even though the Ethereum price has declined, 2019 looks bright for Ethereum as HTC Blockchain Phone Exodus 1(which is only accepting Bitcoin and Ethereum) is expected to launch on December 29,2018. The Ethereum price is expected to reach around $1450 in 2019.
The live eth to btc price chart gives the progress of Ethereum over Bitcoin. Also, it helps us to keep track of the daily Ethereum price.