Ethereum Down: Why is Ethereum price going down (Ethereum Price Today)
Like the other cryptocurrencies, Ethereum has been falling consistently as well. The problem is that it has fallen from around $ 1200 to just under $ 400. This is a massive fall. Many investors considered Ethereum to be much better as compared to some of the other cryptocurrencies. That is why the expectations from Ethereum were much more on the higher side.
New framework for Ethereum:
According to some rumors, there will be a new framework for Ethereum in the coming few months. This will enable a million transactions each and every second. It will ensure that the utility of Ethereum is much more as compared to some of the other cryptocurrencies.
However, these are just rumors. There is no concrete date for the launch of such a network. This is what is worrying many of the investors as well.
At the same point in time, the actual usage of the Ethereum cryptocurrency cannot be ignored as well. It is being used by companies coming out with an ICO. It is also being used for decentralized applications by developers as well.
This is one of the main reasons why Ethereum is becoming more and more popular. However, with the decreasing value, it remains to be seen whether Ethereum is able to gain the same amount of traction or not.
The problem with decreasing value is that it does not become lucrative for the decentralized network players to pledge their resources as well. This is one of the main problems. If indeed, it is not profitable to pool in the resources, the Ethereum will take a further beating.
This will impact the entire Ethereum network rather than just impacting the price of Ethereum. This is one of the main reasons why people are worried about the falling prices of Ethereum.
However, Ethereum is not alone in the current fall. Bitcoin, Ripple as well as other cryptocurrencies are falling consistently as well. Also, Ethereum has not been able to surpass the older highs as well. The highest which it went was $ 1200. After that, it has been consistently falling as well. This means that technically as well, it is on the weaker side.
As a result, none of the investors and traders are actually thinking of investing in Ethereum at the current price of $ 388. Also, the recovery is not on the cards as of now. The reason for this is that the momentum in Ethereum is simply missing which is scaring even more investors and traders away.
Posted from my blog with SteemPress : https://smartereum.com/6833/ethereum-down-why-is-ethereum-price-going-down-ethereum-price-today/