(image by @steve1122)
One of the most well known cryptocurrencies suffered a major blow in the crypto market, making bit coin currency standing high followed by GBYTE. So if you trying to compare these currency with Ethereum think again.
Why is the price of Ethereum dropping
It's really a sad thing seeing the price of ETH or its price chat falling, leaving investors in a bad state. ETH surprisingly dropped by 7.68% over the last 24hours, due to this event ETH is now lesser than $300 U.S dollars about $283 U.S dollar (average) it might even get lower in the future. This event is not really surprising to given that ETH gave some bullish trend the first half of the year.
Let's not forget that ETH at one time was under $11 U.S dollars and it picked up thrnowh these months and was almost $400 U.S dollars, in reference to coinmarketcap. Such market price increase can only be met with future price volatility, whish is what we see in our daily basis. Even at that the ETH value increase has been nothing short of been impressive this year.
Why is Ethereum facing such set back right now
The ETH blockchain and it's technology are weighed down by the in flux of cryptocurrency ICO. Exchange most time are slow when it comes to confirmations. This mostly happens when there is an ICO events and smart contracts used by these projects often have issues whish will be needing repairs letter in the future.
This technology is still very young, yet investors also sees this as a big problem if they are not fixed.
(advert)
Hey buddie, a source will be great next time huh. Well done!
Its all me from A-z had to spend all night, the picture was created by me and the charts were screenshot from my app on my phone.. It's painful though.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by steve1122 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.