RATE Group | Is Ethereum Destined To Fall Below $100?
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Is Ethereum Destined To Fall Below $100?

20 Jan Is Ethereum Destined To Fall Below $100?

Posted at 15:47h in Ethereum News by

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Although the broad cryptocurrency market ended 2019 in a fundamentally better state than it did 2018, the overall trend in the transition into 2020 has not been an overwhelmingly positive one. Bitcoin spent the back-half of last year trending down from recent highs by as much as 50% while other major coins like litecoin and ripple approached new 52-week lows.

In spite of these facts, the dimmest outlook in the crypto market circa 2020 is for Ethereum. ETH is down roughly 60% from the 2019 high it set in June and the coin has gotten dangerously close to hitting a key $100 support level.

In addition to the price pressure, ETH has been hit by a series of hurdles and bad news that threaten to challenge the support for the currency through the initial months of the new year.

Is ETH Forked?

One of the most persistent troubles hanging over ETH through 2019 has been the continued delay of Ethereum 2.0, which is planned to switch mining of new currency from a proof-of-work protocol to the more…

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