Ethereum suffers one of the steepest falls of the year

Ethereum has suffered one of its steepest falls of the year, crashing below $160 in what has been the worst week for the crypto market in months.

After a horrible five-day drop in which ETH went from $220 to $166 per token, a brief bullish correction triggered the optimism of several scalpers and day traders when the token woke up and reached $175 yesterday.

However, the bulls failed to hold on to their dominance, and the token continued its bearish trend, reaching a low of $151 today, according to data from Trading view

This is Ethereum’s lowest price since May. What’s more, the token had not experienced such a steep drop since mid-June, when it went from $343 to $274 per token.

While market analysis cannot alone give a completely satisfactory answer for this unusual dip, everything seems to indicate that the market is following the bearish trend started by Bitcoin on Tuesday, when it began to fall below $10,000 to eventually break under the $8000 zone today.


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Lindsay Benjamin

Between blockchains and the unregulated sector, cryptocurrency has come a long way already. For it to be integrated into the normal economy, there is still a lot of ground to cover. Lindsay understands this and conveys the fluctuations in the cryptocurrency markets and new developments.
mm

Lindsay Benjamin

Between blockchains and the unregulated sector, cryptocurrency has come a long way already. For it to be integrated into the normal economy, there is still a lot of ground to cover. Lindsay understands this and conveys the fluctuations in the cryptocurrency markets and new developments.

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