Altcoin

Ether touches the rock bottom.

The famous virtual currency Ether has reached an all-time low as far as the year 2018 is concerned. The recent times have not been easy on virtual currency and lately, Ethereum has faced a complete downfall. Ether fell by 7 %, and the total downfall has reached 76%. A major impact of the decrease in the prices is that there is a reduction in the enthusiasm of the investors towards this virtual currency and this effect will last for a long time. Ether is associated with Ethereum, it differs from Blockchain in the sense that while Bitcoin provides a global financial network, however, Ether provides computer network to the various people who use Ether.

Along with Ether, it is also the Initial Coin Offerings that are based on the Ethereum have suffered various setbacks, some of these also had to compromise on what they held to manage their operations in a proper manner. A lot of dynamics in relation to the ICO have fluctuated and have brought about immense changes in the market and it can be believed that this will continue to happen for the coming months. Moreover, Ethereum is soon to face the competition that has evaded virtual currency markets in the coming days to the decrease in value.

The decrease in the price of Ethereum has come as a shock to investors because of the number of expectations that they had built for Ethereum in 2017. Ethereum was deemed a competitor for Bitcoin, however, the consistent decrease in the price of Ether has led a significant disappointment for the investors in the market, even though it was believed to be a better choice than Bitcoin for a long time.

About the author

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Kavya Lakhani

Kavya is one of the integral members of the CryptoNewsZ Journalists team. She manages the team of correspondents and researches for the platform. She holds a master degree in Journalism and has cryptocurrency trading experience as well. She constantly follows the cryptocurrency ecosystem with a passion for decentralized fin-tech.

You can also mail her at [email protected] to discuss anything related to her reports.

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