Bitcoin rival, ethereum, has lost $17.5 billion

in bitcoin •  7 years ago 

 A single ether token on Tuesday briefly slipped to a six-week low, dropping under $200 and marking a 48% decline, giving up about $17.5 billion since reaching its best-ever market capitalization of $36.7 billion on June 14.

 The downdraft for ether, which powers the ethereum blockchain and is the main rival to more prominent bitcoin, is occurring amid a broad slump in the cryptocurrency universe, which had racked up dazzling, quadruple-digit gains within a short period. Ethereum’s ether, for example, had surged by more than 4,000% -- from $8 in January to its June peak of around $400 -- before mounting its recent pullback 

 However, worries about the speed of the advance for digital currencies, light regulation and a lack of broad usage has given many skeptics reason to call for caution in investing in bitcoin and ether, which some analysts say displays similar attributes to gold GCQ7, +0.24% viewed as a haven asset. 

 More broadly, the combined market value of an array of digital currencies, including ether, bitcoin, and others like ripple and litecoin, are down by about 28% to $82 billion currently from $114 billion last month. 

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  ·  7 years ago Reveal Comment

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
http://www.marketwatch.com/story/ethereum-has-lost-175-billion-in-market-value-in-4-weeks-2017-07-11

No its my brother blog article understand

Everyone should be cautious when investing in any type of currency. Remember, it's all speculation. Until these markets become even more established, I'm assuming this volatility will remain.

I have bought at 198 :) it can start climbing again now :P

OK