Donald Trump has caused a lot of panic with crypto investors. The American president started a global trade war and the cryptomarkt is very bothered by that. Bitcoin (BTC) has made a hard blow, but Altcoins are already completely at the bottom. Ethereum (ETH) has even fallen to its lowest price in six months.
Lowest ETH price since August
You were able to read about it this morning in the crypto news: the cryptomarkt is in light thanks to Trump’s rates. After Mexico, Canada and China, Europe now seems to be the next row. The increased import rates cause a lot of economic uncertainty and also affect inflation. And that is precisely why the crypto races react so negatively to developments.
Many Altcoins have now returned a large part of their ‘Trump-Pump’-to the rally after Trump’s victory in the US presidential election-. But Ethereum throws a little extra on that.
The Ethereum race crashed to its lowest level last night since 5 August from $ 2,123. Investors now pay almost $ 2,600 per ether, but that is still 17% lower than 24 hours ago.
On Friday you had to pay more than $ 3,400 per ether on the peak. That means that the Altcoin is now 24% lower, but at the low point that was 37%.
Other large altcoins such as Ripple (XRP), Dogecoin (Doge) and Cardano (ADA) have even fallen a little faster. But they have all achieved much better in recent months than Ethereum, so the decrease for investors is less frustrating.
Ethereum continues to disappoint
The entire cryptomarkt is a mess at the moment, but Ethereum stands out again in a negative way. And that is not the first time. Ethereum is perhaps the biggest disappointment in the bullmarkt so far, and that is a worrying development for many Altcoin enthusiasts.
In the past, Ethereum was always the first link to a flourishing Altcoin season. It is now further than ever, since Ethereum almost has to double in value to reach its all-time high. In any case, it would be a comeback for the history books.
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Source: https://newsbit.nl/ethereum-crasht-naar-laagste-prijs-in-een-halfjaar-37-in-60-uur/
