Are Drying ETH Mining Profits Reason For ETH Price Drop?

Divinityxd

jr. member

Activity: 140

Merit: 1

Quote from: cryptonero on April 10, 2018, 03:11:17 PM

Most of the investors has moved from other coins because of ethereum's failing value ,which is why these miners has worsen the situation driving its value back to $300 levels ! Which is going to be the reason why most of the big investors wont allow ethereum to pump again causing most of the ICOs to fail this year! it affects both the market and the ICO projects and this is a fact that you should know.

this is the fact, but 90% of the ICOs are failed because of their bad ideas, and various other reasons, but if we talk about the technology ethereum is standing strong out of other cryptos, and price drop no doubt is also a effect of downward market trend.

cryptonero

member

Activity: 210

Merit: 12

Most of the investors has moved from other coins because of ethereum's failing value ,which is why these miners has worsen the situation driving its value back to $300 levels ! Which is going to be the reason why most of the big investors wont allow ethereum to pump again causing most of the ICOs to fail this year! it affects both the market and the ICO projects and this is a fact that you should know.

Divinityxd

jr. member

Activity: 140

Merit: 1

With the ETH price currently riding at $396 right now, it’s a great loss from the January prices that went up to $1,390. One of the integral factors for this drop in ETH value is the mining as there has been a huge influx of miners that have increased the difficulty while decreasing the profitability from mining an ETH.

ETH price lost about 70% of its value since January

It’s been only 3 years since Ethereum’s inception into the cryptocurrency market. ETH was only $1.6 in 2015 that reached about $12 in the mid of 2016. In April 2017, it’s price was only $50 that reached approximately $380 in mid-June. During the month of November 2017, there has been a dip in ETH prices but it didn’t fall below the $280 level. The ethereum prices went through a great period at the end of 2017 and the beginning of 2018 with its prices reaching to $800 in December and a whopping $1,390 in mid-January.

However, ETH price is down to $396 level right now. Since January, ethereum has lost about close to 1,000 US Dollars and taken a dip of 70 percent.

Read more here: https://coingape.com/drying-eth-mining-profits-reason-for-eth-price-dro/

Topic: Are Drying ETH Mining Profits Reason For ETH Price Drop? (Read 99 times)