Are We in a Long term Downtrend? What is the future of crypto currency?
Over the last couple of months, many news, predictions and rumors are main story in Internet. Specially, when Bit Coin is going to be upgraded. As the discussion was going on investors were unable to decide because of the uncertainty. Resulting the downtrend of #Bitcoin. So other cryptos follow the downtrend as well.
What has happened to ETH?
What is the real story behind the price falling of ETH?
As we know that many new ICOs are coming everyday using Ethereum platform. A huge amount of money used to invest though ETH. Once the ICOs collect a huge amount, they want to convert it into the cash. Market follow the simple principle of Demand and Supply. ICOs are selling their ETH in bulk amount, resulting the downtrend.
That is one among the many reasons why ETH came down to $143 from $400+ within a month as shown in chart below.
As long as the new ICOs are lunching using the ethereum platform, the price of ETH seems not be sustainable. Ethereum has great network, blockchain and #1 thing is they've their reputation. For a long term investment it could be a best option. But as market fluctuate from $400 to $143 within a month, raises many questions.
Many predictors are saying that ETH will cross $1000 within a year.
It might be. Price is always uncertain.