[ad_1]
The price of Ethereum has suffered losses from the start of the year. In recent days, the cryptocurrency market has recorded losses, with ETH one of the main losers among the main cryptocurrencies.
The cryptocurrency has recently fallen below the $ 310 limit before returning to its current $ 327. With the bear market, the question that traders and investors ask is how low can Ethereum go?
Ethereum will probably fall to the $ 200 level
Over the past 30 days, the price of Ethereum has lost about 40% of its value. It was trading above the $ 500 threshold per month, but fell to its current level of $ 327 after falling below $ 310 previously.
The fall coincides with that of the wider cryptocurrency market. The US SEC announcing that it has postponed its decision on Bitcoin's ETF has seen the cryptocurrency market react negatively, with Ethereum reporting huge losses.
Prices are still low despite some good news on Ethereum and the entire cryptocurrency market emerging in recent days.
Crypto bear market
The bear market, which began at the beginning of the year, saw all cryptocurrencies register huge losses. Market inversion is expected, but prices are expected to reach a minimum before recovery can take place.
For each of the previous price declines, Ethereum usually fell more in percentage terms than Bitcoin. [19659002] Even if he has returned, the price may fall. If the price of the Bitcoin falls below the value of $ 6,000, then Ethereum would fall below the $ 300.
Historical Recovery of Ethereum Prices
In the last year, Ethereum does not have a good track record of price recovery after a decline. However, he recorded some impressive retracements this year
On 2 February the price of the second largest cryptocurrency fell from $ 872 to $ 649 on 6 February . This represented a 25% drop in just 3 days. However, in the following days ETH embarked on a bullish run that saw 30% gain to trade at $ 951.
From that point on high, it started a steady decline to reach a minimum of $ 370 the 7 April. This means that you lost more than 60% of its value within two months. The price of ETH has not diminished for a long time as it began to rise slowly.
From 4 in May, he recovered an impressive 54% of what he lost. He recovered from his dive of $ 370 to trade at $ 816. This shows that Ethereum has the potential to recover even after recording huge losses.
Although the price of Ethereum has fallen from its all-time high over the past few months, investors are still confident about the potential of the currency.
At At the moment, it can be considered the most useful cryptocurrency in the world. Only this can see it recover its lost value when the time is right.
Source link
