💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Ethereum (ETH) under Threat of Sliding below $200 as Price Woes Persist

Published 09/06/2018, 06:33 AM
Updated 09/06/2018, 07:41 AM
 Ethereum (ETH) under Threat of Sliding below $200 as Price Woes Persist
BTC/USD
-
ETH/USD
-

Ethereum (ETH) has become the target of extreme negativity as its price unravels at lightning speed. After the latest massive sell-off, with volumes suddenly exceeding the equivalent of $2.7 billion in 24 hours, ETH prices burrowed deeper toward the $200 level, dropping from a relatively stable $283.72 to as low as $226.18 around 07:30 UTC on Thursday. Trading volumes continue to expand as selling accelerated.

The slide in ETH prices drew the attention of Bitcoin (BTC) maximalists, who disapprove of the Ethereum hype. WhalePanda, a prominent Bitcoin proponent, tweeted:

https://twitter.com/WhalePanda/status/1037297381145018368

ETH has generated negative opinions as its price is now significantly lower compared to the same period of 2017. In early September 2017, it hovered slightly above $300. However, the more dramatic slide in ETH is against Bitcoin. All hopes of a “flippening” and ETH taking over seem to be lost as ETH c...


This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.