Ethereum’s Price is Now Lower Than a Year Ago in an Echo of Bitcoin 2015

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Summary

For the first time since ethereum’s invention three years ago, its price has fallen below what it was precisely one year ago. The only time this has occurred previously, for a major coin, is in bitcoin during 2015 after the MT Gox black-swan bankruptcy. Bitcoin found adoption in commerce in 2014, with numerous household brands starting to accept it for payments. As with merchants, most ICOs need to convert to fiat to cover expenses or fund their project, so exerting pressure on eth’s price. The general sentiment is still positive towards ICOs, as it remained positive towards merchants in bitcoin, but there’s a lot to be learned.

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For the first time since ethereum’s invention three years ago, its price has fallen below what it was precisely one year ago.

On August 10th 2017, ethereum’s price stood at $322. Today, its current price is at $318 at the time of writing.

Ethereum’s price on weekly candles.

The only time this has occurred previously, for a major coin, is in bitcoin during 2015 after the MT Gox black-swan bankruptcy.

This time, however, there has been no major black swan event to fuel a bear market. It appears instead much of its continuation is a sentimental game of chairs.

Bitcoin’s price – 2013 to 2016.

We know how the story developed for bitcoin, but for eth it is yet to be told. One sticking similarity, however, among many, is how what appears to be one of their main selling point can also turn into a double edged sword.

Bitcoin found adoption in commerce in 2014, with numerous household brands starting to accept it for payments. Yet as the bear market...

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