Even though all cryptocurrency markets are suffering from bearish momentum, some worrisome trends are emerging. The Ethereum price, for example, has lost nearly 20% in value over the past 24 hours. Such a steep loss is not entirely surprising, given Bitcoin’s downtrend, yet it seems Ethereum’s reign of being the second-largest cryptocurrency may come to an end pretty soon.
WHAT IS HAPPENING TO THE ETHEREUM PRICE?
Even though the year 2017 has created a very bullish Ethereum price scenario, it seems most of those gains are being wiped out as we speak. Whereas one Ether was almost worth $1,400 just a few months ago, it is not losing value quicker than virtually any other coin on the market. All of this further confirms the “flippening” will not happen anytime soon.
Ever since January 15th has come around, we have seen the Ethereum price dip lower and lower nearly every week. This past week has been extremely bearish for al cryptocurrency markets, effectively pushing the Ethereum price down from $725 to $466. Whether or not that latter value is the new bottom, remains to be seen, but right now, it seems things will only get worse from here on out