Ethereum entered the cryptocurrency market with its official and native crypto with a thicker ETH, known as Ether. Ethereum was also considered to be one of the most revolutionary projects in the blockchain space since it managed to bring innovation to the sector of blockchain technology through the introduction of smart contracts. At its very peak in the market, ETH traded at the price of over 1,400$ however, only 11 months later since making its all-time high, Ethereum’s crypto is touching new lows from day to day. Losing its spot of the second-largest cryptocurrency to XRP that managed to get past ETH once the November dips started approximately 3 weeks ago. Ethereum, since the beginning of November, lost over -60% of its value, additionally losing -80% in the course of a year, which eventually drove it to its lowest for 2018, trading at the price of 87$ with the latest dip of -13% in a single day. Will Ethereum keep dipping to match the prediction of its founder, Buterin, who stated that ETH might go down even to touch 0$ by the end of 2018, or will it get back above the price of 100$.
EthereumTouches a New Low: Down to Two Digits First Time in 2018Ethereum is now trading as the third largest crypto currency after it lost over -60% in the course of a single month, allowing XRP to takeover the flattering position of the second top-ranked cryptocurrency in the market. Unfortunately, losses didn’t end with ETH going below 200$and losing its ranking, as the dips continued to sink the value of one of the most promising blockchain projects on the cryptocurrency scene. Further from that point, as the November dips transferred to December as well, Ethereum kept dropping by -26% down against the fiat in the course of the last seven days, while the half of this goes to a single dip of-13% recorded between December 6th and December 7th.
Which Factors Could Pull Ethereum Out of the Crisis?Many believe that the crypto will keep dipping until it touches a point of its lowest low which could even be 20$ by the end of the year at this pace, with a general opinion that scalability solutions integrated into Ethereum system would solve the price problems too. On the other hand, it appears that the bear market trends are bulletproof to good news in the cryptoverse, so despite numerous listings, partnerships, updates, giveaways, integrations and developments across various blockchain projects, which means that the cryptos are mostly driven by bear market trends without external factors able to move the price up. The exception in the last seven days seems to be Bitcoin SV (BSV) rising by 13% while the rest of the market is seen in a dip on December 7th. Whichever the case, one of the crucial changes to Ethereum that would lead to the completion of Ethereum 2.0 would be the implementation of scalability solutions to the network in form of Sharding protocol. However, Sharding protocol won’t see this integration until 2020.
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