RATE Group | Ethereum price plunges 85% in seven months
42161
wp-singular,post-template-default,single,single-post,postid-42161,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum price plunges 85% in seven months

13 Sep Ethereum price plunges 85% in seven months

Posted at 05:58h in Ethereum News by

[ad_1]

The second-biggest cryptocurrency’s slide is deepening as a soaring number of short positions signals traders are betting the pain isn’t over yet.

Ethereum’s Ether had an eye-popping rally, jumping from less than $10 at the start of 2017 to as high as $1,300 in January, according to CoinMarketCap. The fall has been just as spectacular as the digital coin plunged 85 percent from its high in only seven months, piercing through $200 Monday, while short positions on cryptocurrency exchange Bitfinex climbed to the highest ever.

Regulatory uncertainty, disappointment that mainstream adoption of cryptocurrencies has been slower than some anticipated and concern that institutional investors are getting cold feet, contrary to last year’s expectations that they were almost ready to jump in, are weighing on Ether and the broader market. One of the differences for the token built to run what’s known as Ethereum’s world computer, is that some of the startups who used it to raise…

[ad_2]

Source link