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Are you still interested in investing in Bitcoin or Ethereum? Some reports suggest BITCOIN and Ethereum’s price continues to fall tumble due to the cryptocurrency market’s persisting turbulent trend.
Ethereum is an open-source, public, blockchain-based. According to BlockGeeks, it is an open software platform based on blockchain technology. It allows developers to build and deploy decentralized applications.
Bitcoin and Ethereum both offer anonymous transactions, and none of them is controlled or regulated by a centralized body. In other words, both are cryptocurrencies. However, Bitcoin is designed purely as a digital currency, while Ethereum is a more general implementation of blockchain technology.
As of now, Bitcoin is trading at $6443.20, while Ethereum (ETH) is at $219.54, according to www.coindesk.com. A report suggests ETH price has been unpredictable since the heavy bear market began in early September. From the September 2 price of $295, the cryptocurrency lost over 40 percent of its value. On September 12, it became lower with the total of $167.
2018 is a rough year for Ethereum. Back in January 2018, CoinMarketCap figures showed that the digital token is down more than 80% from its all-time high of $1,432.88, thus, reaching as little as $170.26
Despite the disappointing news about Ethereum, there are experts and investors who are optimistic about the future of the digital token. Cryptocurrency advocate Thomas Lee believed after reaching the lowest value; the digital token will bounce back later this year.
Ethereum has lost half of its value in the past three months and had continued to underperform large-cap coins by two standard deviations. Despite that, it could signal that it’s time for a rebound.
“Ethereum is about to stage a trend reversal and rally strongly,” said Lee. “Sentiment is currently overly negative,” he added.
For more updates about Ethereum, keep your tabs on EconoTimes.
