It is no secrets that over the past couple of days the cryptocurrency world has been on a downward spiral. Up until very recently Ethereum was actually fairing quite well and the prices were holding up; however, on Tuesday, these prices fell by 25.27%, bringing the Ethereum to USD rate down to $831.27.
This recent crash though, as had some unexpected effects. Novice investors are fleeing the market, but more experienced traders are welcoming this price crash. One Reddit user wrote;
“Having been in this market since the beginning (yes 2014), I have seen many corrections and dip…Corrections help shake out weak hands and allow for a buy-in opportunity for stronger hands.”
Let’s be honest, it is not unusual to see this. And in fact, the steps that seem like it is moving backwards, is actually considered necessary to maintain a robust market. Investors should be looking beyond the crash though, and look at other developments, aside from the price crash.
So, lets take a look at some of the positives that are still shining through. The Ethereum Enterprise Alliance is getting its first executive director; Mark Cuban has tweeted that his basketball team, the Dallas Mavericks will start accepting Ethereum and Bitcoin payments as early as next season; Vitalik Buterin, the Ethereum co-founder has started a proposal to upgrade its ICO’s, and finally, a research paper, entitled ‘Decentralisation In Bitcoin and Ethereum’ found that Ethereum optimises its decentralisation better than Bitcoin.
It is so important to remember that despite the price drop, it is not all negative, and it is important to see above the pricing alone. If you have invested in virtual currencies, don’t panic too much just yet. It is an incredibly volatile market, and price movements are expected. Despite this, experts have predicted that Ethereum will value at $1,500 this year.
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