RATE Group | Ethereum Price Surges 6% to Top $210: FOMO in Full Swing
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Ethereum Price Surges 6% to Top $210: FOMO in Full Swing

17 Oct Ethereum Price Surges 6% to Top $210: FOMO in Full Swing

Posted at 10:40h in Ethereum News by

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Ethereum bulls are back in full swing. As of the time of writing this, ETH’s price has just topped $210, pushing up by some 6% over the past 24 hours.

Related Reading: Low Volatility Bitcoin Price Action: Decision Time Is Near, Powerful Move Incoming

This strong move higher marks the end of a massive downtrend for Ethereum, in terms of its USD and Bitcoin pair. And analysts say this upward price action may not end any time soon.

Ethereum Price Surges Amid Fundamental Boom

For the first time in a blue moon, Ethereum is showing some brawn.

Over most of 2018, the cryptocurrency had a horrible showing, collapsing from an all-time high of $1,400 to double digits, representing a nearly 95% drawdown. Simultaneously, the ETH/BTC pair tumbled to pre-ICO bubble levels, hinting that there was little fundamental demand for the project.

But, over the past few weeks, this has started to change. After bottoming at $170 and around 0.016 BTC, Ethereum has started to rally for both of the pairs.

Traders…

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