Analytics / Forex and Crypto News
The price of Ethereum fell by almost 25% in just one night. This is one of the biggest daily drops in 2019.
At the time of the publication, the rate of Ethereum descended to $229, the market capitalization of a digital asset has decreased to $24.698 billion. The last time the coin was traded at this level in the middle of June 2019.
The fall of Ethereum in June and the first half of July weren’t so big. It’s worth to note that all the digital currencies started the week losing value.
In addition to the Ethereum, XRP and Bitcoin Cash weakened, falling to $0.31 and $316, respectively. Bitcoin is also weakening on almost all trading platforms, and some analysts bet on its sinking below $10,000 in the very near future.
Analysts are skeptic about ETH. One of them, Alex Kruger, tweeted that the rate of the Ether will continue to fall further, as the market has already shown signs of a transition to aggressive sales.
There are grounds for predicting that the coin will descend below $200 and there are no signs yet to resume purchases. At Bloomberg, analysts have already linked the weakening of the cryptocurrency market with the recent tweets of the American President Donald Trump, who has been unflattering about Bitcoin and Libra.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov