ICOs Created a Strong 44% Downtrend for Ether in 14 Days

PeterTom

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Quote from: Vladdirescu87 on August 17, 2018, 07:55:18 AM

Within a period of just 2 weeks (August 1 — August 14), the price of Ether, the native crypto of Ethereum network, plunged by 44%. In two weeks, the price of Ethereum dropped from $470 to $260, marking its lowest point this year by plummeting below the $300 mark for its first time since early November last year.

The whole Crypto market faced a sharp decline in real valuation, losing almost $150 billion of its real valuation in within a month. However, Ether, which performed particularly well against the US dollar over other bull Cryptos such as Bitcoin and Bitcoin Cash, easily turned out to be one of the worst performing Cryptos in August.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/icos-created-a-strong-44-downtrend-for-ether-in-14-days/

https://coinidol.com/upload/resize_cache/iblock/739/900_900_1/7396855ec1795da3a6c5e8ef2c129c14.png

This is exactly what we must believe. Everywhere they say that you need to sell everything to stay with what is. Personally, I think that now is the best time for shopping, because the market shows that there are practically no sellers at such prices.

Tooevilforyou

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Quote from: Vladdirescu87 on August 17, 2018, 07:55:18 AM

Within a period of just 2 weeks (August 1 — August 14), the price of Ether, the native crypto of Ethereum network, plunged by 44%. In two weeks, the price of Ethereum dropped from $470 to $260, marking its lowest point this year by plummeting below the $300 mark for its first time since early November last year.

The whole Crypto market faced a sharp decline in real valuation, losing almost $150 billion of its real valuation in within a month. However, Ether, which performed particularly well against the US dollar over other bull Cryptos such as Bitcoin and Bitcoin Cash, easily turned out to be one of the worst performing Cryptos in August.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/icos-created-a-strong-44-downtrend-for-ether-in-14-days/

https://coinidol.com/upload/resize_cache/iblock/739/900_900_1/7396855ec1795da3a6c5e8ef2c129c14.png

I don't think that people understand how much ICOs are negatively affecting the prices of other coins especially the price of ethereum. The only reason that ethereum has been in a downtrends when the rest of the market has been holding up well is because of the ICOs which are all basically scam coins by the way. And it will take a while before it gets better.

electronicash

legendary

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with the number of ERC tokens circulating, its not going to be surprising for anyone who expect to profit from ETHER's rise after all these turmoil. sooner when we run out of things to spread fud for the holders and it hits the bottom, it will blow up. And it probably started already as the price are gradually appreciates.

Quote from: BTCgomoon on August 26, 2018, 04:18:31 AM

Ethereum's decline is because its bubble is too big, and there are a lot of ERC20 tokens. They are actually scam, so the price drop of Ethereum is normal. When those scamer left, they took away the Ethereum fund.

no matter how big those scammer had gotten, it can't contribute much to eth's fall.

Omega Weapon

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Quote from: BTCgomoon on August 26, 2018, 04:18:31 AM

Ethereum's decline is because its bubble is too big, and there are a lot of ERC20 tokens. They are actually scam, so the price drop of Ethereum is normal. When those scamer left, they took away the Ethereum fund.

The problem of ethereum is that it depends a lot on the ico market, and when the market is not doing very well then ethereum suffers a lot from it, and that is precisely what we are seeing right now, but I really do not think that is such a big issue, ethereum is going to recover eventually and when that happens all of those that sold their coins are going to regret it.

Bytem3

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There has been a 47% decrease in ICO funding in the last 3 months. It dropped from $1.74B to under $1B.
https://coincodex.com/article/2235/july-ico-market-analysis/

People do not need as much ETH as they used to before when there was a lot of ICO investing and the ICOs are selling Ethereum on the other side. This is what caused Ethereum price to drop so hard. Once the market starts to recover again and all the ICOs that are waiting now launch ETH will boom again.

wuyangbo

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I suggest you not to buy ICO this year. Many of the projects this year are fraudulent. Although it is on the exchange but does not mean it is not a fraud. A lot of ICOs are like you. Let all investors lose money.

KuromaYoichi

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Sovryn - 300-500% APY on USDT Deposit

I know this kind of situation are going to come, it's very good in bull market because the project collect more money than they initially planned but in bear market like this icos will sell their ether to secure the funding of their project and that means suddently there's a lot of sell order in a large amount from a lot of icos and that will push the price down even further.

BTCgomoon

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Ethereum's decline is because its bubble is too big, and there are a lot of ERC20 tokens. They are actually scam, so the price drop of Ethereum is normal. When those scamer left, they took away the Ethereum fund.

Eto_mete

newbie

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The condition of the market is bad, there is no denying that. Even the ICO investments fell. But that does not mean that the market will forever be bearish. Given that last year the condition of the market improved, this year is no exception either. Only the pace is slow, that's all.

Omega Weapon

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Quote from: Vladdirescu87 on August 17, 2018, 07:55:18 AM

Within a period of just 2 weeks (August 1 — August 14), the price of Ether, the native crypto of Ethereum network, plunged by 44%. In two weeks, the price of Ethereum dropped from $470 to $260, marking its lowest point this year by plummeting below the $300 mark for its first time since early November last year.

The whole Crypto market faced a sharp decline in real valuation, losing almost $150 billion of its real valuation in within a month. However, Ether, which performed particularly well against the US dollar over other bull Cryptos such as Bitcoin and Bitcoin Cash, easily turned out to be one of the worst performing Cryptos in August.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/icos-created-a-strong-44-downtrend-for-ether-in-14-days/

It is true that ethereum performed very poorly and there is no way to deny that but at the same time I see this as an opportunity, many people are going to regret not investing in ethereum now that is so cheap, we are not sure we are going to have this opportunity again and if you do not take it then someone else will, why give up profits that are right there in the table and ready to be taken?

cryptoJJJ

newbie

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There has been so many ICO on the Ethereum blockchain the last year, and now when the ICO start to dump their ether other will follow and a domino effect are happening.
I’m sure some people who hold Ethereum are starting to short their holdings also, witch just leave to even bigger price falls.

Docbee

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It because ethereum smart contract is commonly used during token generation for ico when fund are needed they will have to trade it to fiat to purchase equipment to launch their platform.

Pet240

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This seems although pathetic, but that does not mean that we should not understand that this is crypto currency. It has the tendency easily fall and the tendency to easily rise.

edmundo

copper member

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This is happening because Ethereum has refused to tighten up its blockchain. It is so easy to develop a project on ethereum blockchain and this means anyone can just develop a shit project with no substance and float an ICO ripping unsuspecting investors off. The decentralized exchanges on ethereum haven't helped either, they make it so easy to list a coin and promote massive dumping hence crashing the price of Ethereum. It is a sad situation but unfortunately there isn't much that can be done.

EscapePlanETH

newbie

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It will be very disappointing if this type of fall happens. Every coin has to face its bad time. So it’s a bad time for Ether. I hope this fall does not last for many days and will recover it very soon.

wsca

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That's not a good news. The price of ethereum has Fallen from $470 to $260 within just two weeks. It is true that the whole cryptocurrency market is facing a bearish trend now. Many investors believe that market manipulation is the main reason behind the drop of price of a Ethereum.

althiche

newbie

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The fall in price is sad to see. But we need to look at the bigger picture here. The market has been in worse condition too. But it did got out of it. The market is bearish, but it will hit the bull run.

Kemileye

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The sudden fall in the price of ETH actually surprised me because I was actually have some $150 worth of ETH in my wallet so when I checked, the price has dropped dropped badly. I think the ICOs has effect on ETH because a lot of ICOs that collected Ether dumped it during this period.

kabir ullah

newbie

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I don't feel that ICOs have that much of an impact for the recent bleeding of Ether market. Rather a lot of the investors kept their trust on Bitcoin and converted their ETH and other ALTs to BTC when the market's bearish trend started. That was the main reason behind the dumping of ETH in current market.

RottenSteel

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ICOs have been responsible for a lot of things to happen in 2018 till now. A lot of newcomers and old investors got frustrated falling for scammy ICOs and their poorly paid bounty programs. Now they are being accused of downtrending ETH through iquidation of the capital generated by token sales. I think it's high time we give it a though if we need ICOs or they need us.

Topic: ICOs Created a Strong 44% Downtrend for Ether in 14 Days (Read 506 times)