Recently, Ethereum failed to maintain their stance in the market as they dropped below $300. After going through a small recovery, they followed through with a plummet which resulted in a 9.55% drop in value.
Currently, Ethereum is trading at $288 which is a significant drop from its prior trading price. These losses are the most severe out of all of the trading cryptos. Bitcoin managed to display some resilience, as they were able to maintain their composure, while only displaying minor losses.
Ethereum’s prices are on a 9-month low, which is hundreds below its last low point, during November last year. However, they managed to bounce back after crypto trading took off during December 2017. Its unknown if history will repeat itself in the coming months. Bitcoin have managed to come out the other end due to its overall value. The other cryptos have struggled to remain at a stable value, they are unable to as they lack the same luxurious as bitcoin.
Ethereum not displaying a sense of resilience may cause a small amount of worry for bitcoin holders. Ethereum may not be on the same level as bitcoin, but they are one of the most dominant cryptos. Their devalue shows us that bitcoin may not be safe for long, as its recent drop is a sign of things to come, and a lead up to bitcoins drop.