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Is Ethereum in trouble right now?

For most people in the crypto community, FUD is their least favorite subject. I'm not trying to add you here; There's not enough around at the moment. That said, I have some questions that echo around the concerns I have for Ethereum. I do not know the answers to the questions I am asking. I'm just thinking out loud.

In 2017, in the middle of a huge bull run, we saw what is now known as the ICO mania. New societies were created from scratch, some with legitimate plans, some with more than debatable ideals. The process would be as follows. Companies publish a white paper, embark on a frenetic marketing campaign, then release your coins to the public and watch the launch of Ethereum. Tezos and Filecoin were two who raised over $ 200 million each. FUD was minimal to say the least.

However, these amounts were flexible. The amounts collected depended on the price of Ethereum at the time. If Ethereum is trading at $ 200 at the time of the ICO, but then it is worth $ 250 only a week later, then the amount raised could be much more. Of course, this depends on how quickly the company has exchanged their Ether for fiat. The other warning is when they held their ICO; if it were held on top of the price increase of Ethereum or close to the bottom.

The enigma faced by many Ico is when they sell their Ether for fiat or if they do it at all. If they kept this bear market, their funds were drastically reduced by market fluctuations. This could then lead to further downward pressure on the price of Ethereum, as more ICO need to sell their initial funding to stay afloat. However, the removal of many ICOs from the market could be a net positive. By extracting the poison now, by taking the hard blow, Ethereum could come out stronger at the end.

Like the rest of the cryptographic space, we are all asking where the fund will be. Most people focus on the Bitcoin fund, but Ethereum is just as interesting at the moment. The score of $ 100 for Ethereum is an important level of psychological support. So far, it has not been hacked, but if it will be able to support this support it will say it.

The ICOs have also brought another unwanted problem. The SEC crackdown we reported last week added further pressure on the Ethereum platform. It has long been suspected that the crackdown comes from many in space. So far, we have seen a couple of individual arrests, but the SEC will expand much further as they try to grasp the scale of the situation. Again, this can be considered positive depending on the point of view. Unfortunately, there have been too many shady Icos who have the idea of ​​a non-existent product, but instead spend money on marketing through an A-list celebrity.

Currently Ethereum fluctuates above the $ 100 level (at the present time of writing). This could prove to be a key psychological support. If Ethereum falls further into double-digit territory, fear and uncertainty may be on the horizon. For those who have been in the cryptographic space for a longer period of time, however, a further decline could offer the perfect buying opportunity.

There is never a dull moment in the crypt. The next future of Ethereum will be fascinating to follow. The news for the near future seems to be in a precipice of the fundamental bear market. However, the struggle that Ethereum suffers now could allow the platform to return stronger and wiser. As I stated at the beginning, I am not trying to FUD Ethereum. Rather, I'm just asking pertinent questions that are floating around the horizon.

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