What do you mean by eth is plunging do you only see the price of eth being down didn't you notice btc has fallen by $1k , xmr fell by $40 , ltc by $30 and all the other coins has drastically fallen the reason behind is obviously china banning exchanges and this has caused lot of panic selling to occur.
Is this permanent? No luckily this effect will last till Sept 30 or even further until china makes new regulation for btc or maybe just adopt it with better laws.
We cant still be sure on what would be the plans of China ahead regarding on cryptoworld either on Bitcoin or on altcoins.Price are dipping now but not totally permanent this one of the things that normally happen on this crypto.If theres a bad news later on there would be a good news its just like that and it is not always we are only on price decrease,recovery would really comes after always.
In the world of crypto decline like this is very common, but look at the charts in the past few years, which you say is true, we can not only hear good news, but bad news will also appear, and see what will happen next month.
Definitely bitcoin prices above $ 5k
