Ether September Price Lows Could Signal End Of Bitcoin Bear Market: Analyst

[MaluWang]

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/