RATE Group | Ethereum Crash: ETH Breaks Down Below $200 on ICO Selling Spree
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Ethereum Crash: ETH Breaks Down Below $200 on ICO Selling Spree

09 Sep Ethereum Crash: ETH Breaks Down Below $200 on ICO Selling Spree

Posted at 10:25h in Ethereum News by

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ETH market prices have sunk over the weekend due to a mix of negative sentiment and ongoing selling pressure from ICO projects.

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Ethereum (ETH) sank down to levels not seen since May 2017, when the cryptocurrency took off significantly for the first time. Now, ETH has retreated back below the $200 range, finally finding some support around the $190 level. During the bull market, ETH was below $200, first in May, then in mid-July 2017, but the price surged after that, touching over $1,400 at its all-time high.

Even Nouriel Roubini, the economist known as Dr. Doom, commented on the gloom, citing Ponzi schemes, casino games, DEX’s no one uses and lack of useful Dapps as the reason Ether’s decline.

https://twitter.com/Nouriel/status/1038695708633825280

ETH crashed below $200 within three hours, between 17:00 and 20:00 UTC on September 8, and continued drifting near the low range. As of 9:00 UTC on September 9, ETH traded at $191.76. The fall is especially dramatic, as ETH wiped…

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