Hello, we all know that the oil market is now in the downtrend, and the price of all top coins has fallen dramatically.
But the price of all the beloved etherium has decreased almost 10 times and many holders of this coin are experiencing this.
So, I have several reasons why ETH has fallen so much in price
- Development of EOS
This project has the same goal as Ethereum - the creation on its platform of decentralized applications (DApps). The creators of the EOS promise a more advanced blockchain than Ethereum. - Scam projects created on the Ethereum
Everyone can create their own token on the platform. Thanks to this simplicity, the platform attracted, among other things, a large number of scammers wishing to earn easy money for the ICO and disappear with them. Also on the basis of Ethereum were created crypto-currencies under the Ponzi scheme (I personally participated in Bitconnect). - Negative news
Here everything is simple: open any news portal and read the news, almost all of them have a negative character - Strict restriction on operations with a crypto currency in China
Most recently crypto-trading was bannes in China. Of course, we all remember that in September last year China was banned from ICO's
There is an opinion that thus the Chinese authorities want to cut off all foreign projects from the country, giving more chances to develop their NEO. - Implementation of PoS Mining
With the introduction of a new type of mining, the speed of the network will also increase. However, the community is very worried about the level of implementation of innovations. After all, for its short history, the crypto currencies have already seen quite a few unsuccessful forks. Not all investors believe that such a transition can be completed safely. After all, in such a scale, the transitions were never implemented and all possible errors can occur. If such assumptions prove to be correct, then the course of the Etherium may collapse on the background of negative news.
Despite all the bad news and the collapse of the ETH course, it is still one of the world's leading crypto-currencies!
What causes of the fall can you call? Do you believe that the etherium will die
I think that EOS is the most important competitor for Ethereum. And I'm afraid that in the near future the price of EOS will be many times higher than the price of ETH