Ethereum, the world’s second-largest cryptocurrency by market value, is losing ground after hitting record highs.
The digital currency fell as much as 20 percent on Wednesday, extending its losses from the previous session.
The sell-off in Ethereum comes as a surge in the price of Bitcoin, the world’s largest cryptocurrency, appears to be losing momentum.
Bitcoin fell below $40,000 on Wednesday after climbing above $44,000 just a day earlier. Ethereum has followed a similar pattern in recent days, peaking at around $1,400 on Monday before tumbling lower.
NOTE: WARNING: Ethereum is a highly volatile digital asset and can be subject to significant price drops. Before investing, it is important to understand the risks involved and to research any factors that may contribute to an Ethereum price drop. There are numerous factors that can contribute to Ethereum’s price movement including market sentiment, news, regulatory changes, and technological advances. Investing in any cryptocurrency carries a degree of risk, so please proceed with caution.
The sharp declines in both cryptocurrencies come as investors appear to be taking profits after a massive run-up in prices. Bitcoin has more than doubled in value since mid-December, while Ethereum has surged nearly 400 percent over that same period.
The sell-off also comes as concerns grow about a possible crackdown on cryptocurrencies by regulators around the world. China’s central bank said it will tighten regulation of Bitcoin and other digital currencies, while U.
S. Treasury Secretary Janet Yellen said she is concerned about their use for illegal activities.
Investors remain bullish on the long-term prospects for both Bitcoin and Ethereum, betting that they will continue to gain mainstream acceptance and become more widely used as a payment method. But the recent sell-off suggests that the market may be due for a breather after an incredible run-up in prices over the past few months.
7 Related Question Answers Found
In the past 24 hours, Ethereum has dropped over 10% against the US dollar, and is currently trading at around $180. There are a few potential reasons for this price drop. First, it’s important to note that Ethereum is still down over 50% from its all-time high of over $400 set in June.
As of September 2, 2019, Ethereum was down 12 percent against the US dollar, and down nearly 9 percent against Bitcoin. The value of Ethereum has been dropping over the past few days, and many people are wondering why. There are a few possible explanations for Ethereum’s recent price drop.
Ethereum, the world’s second-largest cryptocurrency by market value, is on the decline again after a brief respite. The price of ether, the native token of the Ethereum blockchain, fell below $230 on Tuesday morning, losing nearly 10 percent of its value in the last 24 hours. The sell-off appears to have been triggered by a surge in selling pressure from large investors, known as “whales.”
According to data from CoinMarketCap, Ethereum’s market value has dropped by more than 30 percent since its all-time high of $1,432 in January.
It’s no secret that the price of Ethereum has been dropping lately. But why is this happening? Let’s take a look at some of the possible reasons.
The Ethereum price is dropping because the network is congested, and users are resorting to other platforms. The Ethereum network has been congested lately, with users reporting slow transaction times and high fees. This has led many users to seek alternatives to Ethereum, resulting in a drop in the price of ETH.
As of June 11th, Ethereum has dropped in price by almost 50% in the last month. This is a pretty significant drop and has caused a lot of speculation as to why it is happening. While there are a few potential reasons, the most likely explanation seems to be that Ethereum is simply going through a natural correction after such a large run-up in price.
Ethereum Classic (ETC) is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. ETC is going down for a variety of reasons. First, the value of Bitcoin (BTC) has been on the rise recently, and Ethereum Classic is seen as a direct competitor to BTC.
