Ethereum is one of the biggest companies in the crypto sector. They have emerged as one of the prominent powerhouses of the market. They rank in the same bracket as that of Bitcoin. The major portion of the market is owned by BTC and ETH. However, despite its success so far, the company is facing the biggest challenge of its lifetime. The entire crypto sector is experiencing a downward trend at the moment. Companies like Bitcoin have also incurred a significant amount of loss in recent times.
However, Ethereum has faced the worst trends of all. Their prices have come soaring down in the last month. Unfortunately, the recent analysis of the market has some bad news for ETH. If the analysis is to be believed, the trends are not going to rise anytime soon for the company. In fact, the company should brace itself for more drops in its prices. The company has already lost more than half of the value of its token, Ether. They have also suffered drastic losses in comparison to Bitcoin. The prices of the company currently stand well below $2000. Let us learn more about the story in detail below.
Ethereum Might Witness Further Price Drop
The bad phase seems to be continuing for Ethereum at the moment. The market analysis has issued the company warning about the possible price drop. There are several reasons that contribute to the company losing so much value. Investors have shown a lack of trust in the company. They have withdrawn a staggering $250million worth of investments. This has impacted the company largely.
Another reason for Ethereum to suffer huge losses is its sluggish patterns of technicals. The ETH market has portrayed a bearish trend in the recent past. The value of Ether has fluctuated a lot and has been unstable.