Tuesday, December 11

Ethereum Dips Below $100 for the first time this year, is ETH Doomed?

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Once the world’s second largest cryptocurrency, now sitting on the third spot, right behind a perceived threat and rival Ripple XRP. For the first time this year, Ethereum has lost its momentum and moved below the $100 mark and is now dangling at a trading price of $97 as of this writing.

Ethereum Dips Below $100 for the first time this year, is ETH Doomed?

Currently, the cryptocurrency market has all the top six tokens blinking in red since the last 12 hrs. In losses, the Ethereum has shredded as much as 8.63% and is now battling to stay on the $90 edge, a move that may be impossible to maintain if the token continues to depreciate.

On the 5th of December, the Ethereum showed bearish signs when the token closed at a price of $102.48 after managing to gather an opening price of $110.34. The Ethereum traded at a daily all-time high of $110.60, not very far from its opening price. The big blow began when the token hit a daily all-time low of $102.48, as usual, one would expect an upswing but it never came. Instead, the token closed at the same price and has since fallen twice to the $90 level.

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Bitcoin has also declined by 5.52% since today, it looks like the big bull is succumbing to bearish trends and will have to build a higher trading volume in order to move back to a $4000 mark. At the moment of this writing, Bitcoin is trading at a price of $3667.75 while market cap sits at $63.85 billion.

Meanwhile, Tether and Bitcoin Satoshi vision have been blinking in green lights with decent gains. Although tether has increased by just 0.47%, Bitcoin Satoshi Vision has moved even higher with gains reaching 16.57% and a trading price of $105.47, the growth is quite impressive, seeing that the token was at a $90 level for the past one week. The breakout was highly unexpected especially because Bitcoin Satoshi vision had traded as low as $86.31 yesterday.

What’s Your Thought On This ?, Let Us Know In the Comment section Below.


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