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Ethereum, is the most popular cryptto after Bitcoin. During the year 2017 ethereum rose from a level below $ 100 to its highest peak of $ 1,400. If calculated mathematically, Ethereum (ETH) has risen more than 1,400% in a period of 1 year only.
But after being considered a major competitor of Bitcoin for its freely programmable ability, Ethereum has fallen more than 50% in recent months. Currently ETH / USD has dropped below the $ 384 level.
According to my prediction Most likely, this crypto currency will arrive at the next support level at $ 150.
The Ethereum Cause Is No Longer
There are some things that I think have made Ethereum a very drastic drop in interest, among them are:
- Now, Creating a New Altcoin is Easy.
To create a new Altcoin, even beginners in cryptography can do it. Because of the basis of the Open-Source Ethereum-based ERC20 program, there are currently many guides on Web pages and Youtube explaining how to create a Token Ethereum in just one hour.
As the ERC20 base begins to be released, a lot of ETH coin demand comes. But along with the number of Altcoin that appears, the confidence in digital assets is a drastic drop. Big investors certainly do not want to invest money just for something that can be recreated easily.
- Prohibition Against Crypto.
Recently, we've heard that giant advertising media platforms like Google, Facebook and Twitter have blocked all Ads related to crypto, from ICO, trading, the exchange, and so on. They take protective measures to protect users from potentially misleading advertisements.
The next ban comes from the SEC (Securities and Exchange Commission) which is tightening rules against a number of crypto companies. Last month, Robert Cohen, Head of the SEC Cyber Unit, claimed there were at least many companies that had been suspended due to stuck by SEC regulations.
- Hacking
Cryptography is considered to be the most secure payment platform and digital asset in the world. Although the system is almost non-hackable, there is still a factor X of the Third Party (Wallet holders, stock exchange security, etc.) that can cause various hacking incidents. To refresh your mind, it may be remembered that not even a month Coincheck lost NEM worth more than $ 530 million Dollars