Steep Ethereum Price Drop Materializes
After what seemed to be a somewhat promising start to the year 2019, the cryptocurrency markets have come under severe bearish pressure once again. To most speculators, this doesn’t come as a big surprise. It was rather clear the bearish market is far from over at this point and a correction would kick in sooner rather than later. The volatile nature of that correction isn’t exactly what most people expected, though, yet the situation is still developing at this time.
Over the past 24 hours, there has been a pretty steep drop off in the Ethereum price department. Once Bitcoin starts slipping, all other currencies will usually follow suit. The current 8.5% USD value decline brings the Ether price down to $139.34. There is also a net 3.5% loss in ETH/BTC, as the 0.04 BTC level seems unreachable at this time. Unfortunately, this may very well be only the beginning of what is still in store.
On social media, there are only debates regarding the Ethereum price right now, instead of the upcoming Constantinople hard fork. That is always a bit unfortunate, although it is also to be expected under these conditions. CryptoMeter claims there has been recent ETH selling activity valued at over $7m, which is rather interesting. This indicates the sell pressure will, most likely, continue for quite some time to come.
#BINANCE : #ETH Selling Activity Worth 7M+ USDT #cryptocurrency #cryptotrading visit us at https://t.co/LIVO4vKBXG
— Visit CryptoMeter.io (@CryptoMeterIO) January 10, 2019
Dajuan, a fan of using far too many capital letters in his tweets, would like to remind everyone the bear market is still in full effect as of right now. He would also like to warn users not to try and catch this falling knife. While gloating is always easier in hindsight, it is evident this wave of pressure may very well remain in place for some time to come. That would be rather unfortunate, although it is also completely normal.
#FALLINGKNIFE #BTC #ETH #ADA SO MUCH FOR THOSE LONG PLAYS ..LMFAO YALL KNOW WE STILL IN A BEAR MARKET RIGHT