Will Ethereum drop to $100 – the submerging continues
When will it stop, or is it the best time to buy?
The monthly-long declination of not only Ethereum blockchain asset price, but the cryptocurrency market as a whole has continued even on Sunday.
To have a big picture of the swift downflow of the price, we do not need to compare the value now with the all-time high that was around $391 because now it is approximately 65.5% lower than that, but just from yesterday it dropped for $40 lower to $144.80 what is the price right as of this article being written.
Following this, the market share capitalization of Ethereum is leaning towards $12.5 billion, which is the lowest since late May when the same proportional function was being shown towards almost all other top-cryptocurrencies even with Bitcoin.
If this continues like this, will we see the price of Ether go below $100? On top of that I believe many are waiting for that moment to be the best for long-term or want-to be investors to buy in their own share.
Bitcoin on the other hand, lost more than $1000 of its highest value, declining below $1900 only since yesterday.
This continuation down-trend for bitcoin, for many is the fault of its the technical update bitcoin roadmap.
“It could be people who are not comfortable in holding bitcoin because of August 1st due date,” Andrea Medri, founder of cryptocurrency exchange The Rock Trading
A ray of hope for all Ethereum sharers could be after the much anticipated 1st of August as explained by Andrea, the crowd could not feel on ease to keep bitcoin, and after that a big move could happen towards Ethereum.
For Ethereum dropping, the finger by many is pointed towards ICO supporting daily offering, as there are those that could have turned scams or others, but the hype to buy into ICO tokens was going on for quite long, which cause a lot of Ether to be used for many to have their own share and part.