Ethereum Back to 9-Month Lower Limit

August 14, 2018

Cryptocurrencies have failed to make their short-term growth. Just some of them have avoided dramatic price losses. This was not the case with Ethereum that fell below 300$.

While trying to go beyond $320 resistance the cryptocurrency shrank to $288 just 3 hours before trading close having thus lost 9.77% of the cost over a day.

Losses of Ethereum were the highest among those of the top-10 major cryptocurrencies. Bloomberg analysts believe, the price downfall was caused by ICOs. They stressed that Ethereum is a popular platform for fund raising and blockchain. Over the last few weeks various ICOs sold total 10,000 ETH.

Exact reasons for the market sale however still remain unknown.

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