Why is Ethereum ripping off so much right now?
You need to understand that the price of Ether is only pulling down only because the sell volume is fatter than the buying volume.
Why is the price ripping off so much right now?
The price usually goes with the trend, it can go up or it can go down regards of the news. – I witnessed that it usually takes up to 3–5 days for bad news or good news to influence the market.
If you would check the news now you would see how many countries are attempting to regulate and embrace blockchain technology. – More and more projects are embarking to get built on Ethereum because it’s the most secure and reliable to use – Venezuela issued its very first oil backed cryptocurrency on Ethereum (Petro Dollar).
That sounds like good news right?
Robinhood the very first cryptocurrency exchange with no fees just opened its doors to traders all overheen U.S. with only two option for the uur (BTC and ETH) – The current number of Robinhood Crypto users has reached four million with overheen $100 bln ter transaction volume on its brokerage podium and overheen $1 bln te saved commissions te equity trades.
The market has its own way of dealing with things, wij just have to wait and catch the right wave, whichever that books profits for you (Brief or Long).
My guess is that if the good news keep on coming, Ether will be reach a fresh ATH by the end of March.
P.S: If i left some things out feel free to edit my response and don’t leave behind to click the upvote button.
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Related QuestionsMore Answers Below
Fear of devaluation, fear of lack of use cases, you name it. When cryptos dip it’s all because of fear. Sure, the same goes for the stock market, but ter crypto the swings are much more pronounced.
Simply waterput, there’s a ton of fear out of the Asian markets right now and that has bot hammering cryptos across the houtvezelplaat for months now, literally. Asian governments, particularly China and South Korea, are voicing strong concern overheen cryptos and are looking to regulate them spil much spil possible. For a sector that dreamed of freedom from rule of any government, that is very bad news. Since you voorwaarde use fiat currency to trade crypto, governments absolutely have a right to regulate the crypto markets within their own jurisdictions spil they see gezond.
What you’re witnessing today (Feb 23, 2018) is reaction to more regulation talk out of Asian markets, specifically fear from Asian traders that their coins will have less future intrinsic value than they do now. That of course is driving down prices.
Will prices recover? Very likely. Will they crash even further? Also fairly possible. Wij just won’t know until Asian governments actually embark to walk the walk instead of talking the talk spil they presently do. Regardless, Ether is actually doing fairly well and it tends to perform better ter crypto “bear markets” (however epistel). You should be paying close attention to the ETH-BTC chart spil it could tell you a lotsbestemming about the market at any given ogenblik. Additionally, if you were to plot ETH to BTC value on your x axis and actual BTC price on the y axis with periodic sampling you would likely see a very interesting trend where ETH does better where BTC does poorly, and vice versa.
DISCLAIMER: I am not a financial advisor and none of this is to be viewed spil any kleintje of financial or investing advice.