Ethereum, what’s going on with you?
Greetings from Benice team! — that’s how we usually begin our articles on TradingView. Today we have decided to share our market forecasts with the users of Medium and to tell you about Ethereum. By the way, in addition to articles, we regularly publish an update of ideas on our channel. If you follow them, you can gain profit.
In the last year, watching price changes of Ethereum has been like riding a roller coaster, one day it caught a bid, another day it dropped again. All the actors on the exchange are shocked at these sharp jumps.
We have seen Ethereum coin at a minimum of 167.32 during the year. Moreover, it has recently freshed its lows. It is one of the few coins that have fallen below their minimums during the year. What is the reason? There are many of them, but we are going to focus on the main one.
Thousands of ICO projects invited investments through the Ethereum platform. At the same time, the crypto market has been gradually sliding down since January 2018. Many ICOs could not wait for some new hype, as they need to maintain their staff and to bear the running costs associated with the project. Accordingly, they are selling at the current exchange rate, regardless of whether it is high or low. But prospects remain, when the coin grows again, the ICO will be the same. The coin price gets stabilized corresponding to the current reality of the ICO market.
The cryptocurrency market strongly depends on the global capital market, and it is impossible to answer the question of whether Ethereum is expensive or not. But if you have a look at the correlation between Bitcoin and the Japanese yen (the cryptocurrency market is by no means served by American banks), you will clearly see that a cryptocurrency is not sovereign from the global world markets and the Japanese bank.
The growth was due to the agio on the ICO market as the investments were brought in based on the Ethereum token. The demand was huge in coherence with the popularity of the ICO. At the moment, the market is not growing so much, accordingly, the upside potential of the coin will be limited until a new factor appears which will also benefit the demand for this token.
That is about it. But we do not say goodbye. We invite you to continue exploring the cryptocurrency world with the help of our service: https://t.me/binance_tools_bot. The service will help you to manage your wallet faster and in a more convenient way. Anyway, we are not going to show you all our aces, you can read more information about the application’s features on our website: https://benice.tools.
