Home / Ethereum / Cryptocurrency markets collapse in the middle of the week while Ethereum hits the lows of 2018

Cryptocurrency markets collapse in the middle of the week while Ethereum hits the lows of 2018



Wednesday, 12 September, cryptocurrency markets are suffering the pressure of a prolonged slowdown, with Bitcoin (BTC) losing 2.5% and Ethereum (ETH) reaching its lowest levels from May 2017.

Cointelegraph's price tracker and Coin360 data confirms the lackluster image through the cryptoassets that continues another day, with all the first twenty coins – except for Dogecoin (DOGE) – in red .

  Market Display by Coin360

Market Display by Coin360

Bitcoin had risen to nearly $ 7,400 last week before the turmoil still hit the markets, prices fall on receivables Goldman Sachs had set aside his plans to encryption, which officials have dismissed as "false news".

The regulatory pressure also continues, with US authorities ordering a ten-day suspension of two ge-traded banknotes (ETN) changes over the weekend.

The combined effect meant that the BTC / USD tended towards $ 6,200 at the time of the press, but still retains around $ 6,251 to avoid a deeper slide below the $ 6,000 barrier.

  Bitcoin & # 39; s 7-day price chart

Bitcoin 7-day price chart. Source: Cointelegraph bitcoin price index

For Ethereum, prospects appear darker.

The recent comments of co-founder Vitalik Buterin on the lack of growth prospects in blockchain seems to exacerbate the descent of the Eth to the lows of 2018. [19659002Buterinhanegato statements that was a "pessimist" on the perspectives of cryptocurrency, arguing that the media publications had "pushed" his words.

However, ETH has faced a bearish trend for several months, with the sector research by Tetras Capital in July warned that the asset had to face a prolonged cooling period afterwards. intense growth recorded by the phenomenon of the initial coinage (ICO) 2017.

At the time of printing, ETH / USD traded around $ 172, almost down 11 percent on the day. Ethereum last saw this price in July 2017.

  Ethereum price chart

Ethereum price chart Source: Cointelegraph's Ethereum price index

For others main altcoin, losses came following the crisis of Bitcoin, Dash (DASH) and Litecoin (LTC) and Bitcoin Cash (BCH) all almost corresponding to the performance of the 11% of ETH. Altcoin Cardano (ADA) went further, dropping by 14%.

The abolition of altcoin prices meant that the Bitcoin domain on the market reached peaks of more months close to 58%, according to CoinMarketCap data The last bitcoin reached that market share in December, when prices have reached historical highs around $ 20,000.


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