Ethereum Price Drops Below $ 550

[Tokuyised]

Ethereum Price Drops Below $ 550

2017 was probably the breakthrough of Bitcoin and simply the year of the cryptocurrencies. Now It seems evident the year 2018 is almost becoming the year of the cryptocurrency “dumpening“. All prices are going lower every day. The past 24 hours have pushed the Ethereum price below $ 550 and the trough is not yet in sight. 

How does it continue? 

For the time being, the cryptocurrency markets do not seem to make much sense. With the Bitcoin price in the dirt, all other cryptocurrencies are bound to follow. While there will be some pump-and-dump attempts of smaller and insignificant currencies, the ethereum price is going straight down. After a very rough week which just ended, the new momentum only seems to be driving down the value down even further.

More specifically, the Ethereum price has dropped below $550. It is the first time in over a week the Ethereum price goes this low. In fact, the value per Ether was just over $720 on May 22nd. A massive price dip has occurred earlier this morning, albeit no one knows for sure what has caused it exactly. Even so, recovering from this massive setback will prove to be very challenging, for rather obvious reasons.
With this latest 8.76% setback in USD value and another 7.86% decline in the ETH/BC ratio, things are not looking all that impressive for the Ethereum price. At this rate, it seems to be a matter of time until the Ethereum price drops below $500, which would spook a lot of holders, for rather obvious reasons. Panic selling has already begun to set in, which will continue to drive the Ethereum price down for the foreseeable future.

The Ethereum trading volume is still holding relatively strong at $2.221bn in the past 24 hours. Unfortunately, most of that trading volume is made up of people looking to dump their Ether holdings at bottom prices. At the same time, there will be some people buying the dip, as this creates an exciting opportunity to stock up on some cheap Ether.
Fiat currency markets are not hard to come by where Ether trading is concerned. Right now, only Bitfinex is in the top six, whereas the rest is made up of BTC and USDT trading pairs. OKEx, Huobi, and Binance are all in the top five as well. With just two exchanges generating over $100m in volume these past 24 hours, things are not necessarily looking all that great. Only time will tell if the Ethereum price can pick up the pace moving forward.

What a bad start to the week! And it looks like there will not be any positive news for the best cryptocurrencies this week. The downtrend continues ... maybe with the exception of the coming weekend. We will see and it remains to be seen what will happen.

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ETHEREUM PRICE DROPS BELOW $550

[DogmaF10]

Maybe this is the right time to  buy more eth.. as it will bounce back soon enough, just like what happened for the last 2 years. Prices go down in may, and goes up so high in the next 2 months.

[ManaMan]

We have yet to see the end of 2018. Of course that correction was inevitable, keep in mind how fast the prices went up in December. Correction was expected to occur. However I do believe that for the long run it doesn't matter as the market will catch the bull run again someday in the future.

[makishart]

Maybe this is the right time to  buy more eth.. as it will bounce back soon enough, just like what happened for the last 2 years. Prices go down in may, and goes up so high in the next 2 months.

Remember it has been getting a drop at first quarter of this year and it has reached the bottom was around $360 and it looks like it will give us the more opportunity to buy ethereum as much as possible. Due to the various regulations from a lot of countries and the pioneering analyst from wall street was creating a FUD news that makes everyone thinking to dump their altcoins to the market. Pos mechanism still not implemented and there is a second chance to the ethereum.

[krassy]

You are absolutely right, now is the time to buy ETH, because in a couple of months the situation will change very much and you can count on a big profit. And the same situation with top 10 cryptocurrencies, i think.

[plontacia]

It's not very good news, but it's fair that the market varies. Let's hope the Ethereum doesn't die.

[btcefeyigit]

ethereum crypto coin is the most traded currency in the world. the graphics are very uneven and the price is not as stable as the old one. in the near future the price could go below $ 550.

[k-west]

It is a great time to buy more extremely cheap Etherium,just imagine that some people were buying this coin for 1500$ price a few months ago!We are lucky having chance to buy it today or tomorrow at almost 500.The discount is 1000$ ! I can't believe it !

[prdn]

I don't believe this is really a correction, 3 big fixes took place in 6 months and prices do not go back to the old level

[limtjoehua]

this is a bad surprise for the ethereum holders, the portfolio that I have of his value keeps going down. I am confused by the events that the market experienced today, as well as panic and worry. now I doubt whether in the near future ethereum can rise again.

[TheBiochemist]

Well diversify amongst new platforms as well as ETH so you don´t lose out if they eat away on the market of ETH. Kind of a hedge

[usd.dev]

Do not think that if the fall and thats it will be protracted. Too many companies are tied to the rate of Ether. It is worth thinking that if such a maneuver is accomplished, then whales will randomly buy up the depreciating assets of companies that they want to get their hands on. We regard this acquisition as if it is as a stage to increase.

[Javanewstar]

Don't worry about the current market, because it's a bear market.
When ETH reaches the bottom, it rises rapidly.

[Ilegendph]

I believe that the price drop is not something to be scared off since Ethereum prove its worthiness over a year. Just take the price of Ethereum last year which is less than a dollar. Why not take the advantage to buy and invest to ICOs just make sure to diversify your investment.

[liuqi]

The current dip is affected in all the Cryptocurrencies so Ethereum will raise soon. But we must wait for next pump because still most of the peoples are investing in Ethereum so this will going to moon and many peoples are waiting to continuous dump. So my suggestion is investing in favourite coins are trusted coins automatically that will increase the value and marketcap

[btcefeyigit]

crypto lenders lost all stability of Etherereum in the market and are constantly depreciating. it will go down to $ 550 if it continues this way. then i think  I will invest again

[kristinkamal01]

That's why the market is very volatile and now it is back to correction, but I look at all of this on the other hand it's a good dash to buy certain coins and keep them for a long period of time.

[colkcolk]

I think the Ethereum price drop to follow bitcoin price as the crypto leader so far, as I heard several days ago that Mt Gox has issued their stock of BTC to cause the price down and followed by other alt price.

[rickadone]

We have yet to see the end of 2018. Of course that correction was inevitable, keep in mind how fast the prices went up in December. Correction was expected to occur. However I do believe that for the long run it doesn't matter as the market will catch the bull run again someday in the future.

Correction is always normal in every market. Ethereum has a low to about $300 recently and then bounced towards $700 with some correction afterwards and there we are with some noob declaring 2018 as a bad year for the whole market.

The OP sure do have some point on the volume, but we all know how the market can act at times, as all traders are simply looking forward to catch the best gains most of the time but only time will tell if this is just going to be a little retrace or we are up for some crazy moments ahead.

[keyscore44]

This mean only a good time to invest, for me this price won't go down and down for next weeks and we could take something from investing in it, so good luck and be patient in investments, don't be scared if eth will go down for some next days after your investments cause this will only last for some days from now in my opinion.