Things could be heading south to ETH – BlockPublisher

Ethereum (ETH) remained the second largest cryptocurrency in the world in terms of market capitalization for quite some time until it was recently detected by XRP. ETH has enjoyed its peaks in the past, but the recent downtrend in the market has reduced its assets. The currency has even surpassed the $ 1,000 mark before, but since then, it has been largely a downward slope for good with few spikes in the middle.

At the time of writing, ETH is priced around $ 93 according to www.coinmarketcap.com. So where could it be directed from here on? To get a perspective on this from someone who is actively involved in this world, BlockPublisher got in touch with one of the well-known names in the blockchain world, Thomas Power. Thomas is currently a member of the board of directors of BICRA (abbreviation of Conformity of the Blockchain industry e Regulatory association).

In September, Thomas made some strong observations on the price of the bitcoin that would have passed to $ 3000 and now, we are floating around $ 3000.

In response to the question posed by BlockPublisher about where he could head the ethereum (ETH), Thomas said:

South. Not until BTC funds at $ 2160 can get to the ETH fund. Another 33% decrease is needed.

From what he's suggesting, things are not going well for ethereum at the moment. It has already suffered a sharp decline in prices resulting in the loss of a large amount of investor money. Various encryption projects that have raised pawns ethereum (ETH) in funding are now a little concerned as the price of ethereum has already suffered a huge toll. A further drop in its price would mean further damage.

This general price drop is not only related exclusively to ethereum. The entire encrypted market has been in a bear race for a long time. Various criptos are facing a downward trend. Even the world's leading cryptocurrency, bitcoin, has seen the same fate. After almost touching the value of $ 20,000 last year, the bitcoin has reached the minimum of $ 3,000 this year. This kind of volatility shown by the cryptic world has questioned its reputation.

It will be very interesting to see what happens from here on. If the market recovers or the bear runs on, things seem uncertain. The only certain thing associated with this world seems to be uncertainty.

SEE ALSO: Ethereum exceeds the USD price of Bitcoin Cash