.jpeg)
Ethereum, the smart contract token, continue to decline in price today. A downtrend continuing for a week, with a dead cat bounce or two along the way.
More and more ICOs continue to come out, reflecting a strong sell demand as Ethereum is traded out to gain stakes in the new token sale releases. Bitcoin and Litecoin rising in value also entices trading out of Ethereum to get at the gains.
This trend will continue, but there's a more important factor being missed by most.
Many ICOs now accept many coin types as payments in all major coin types further reducing demand and usability cases for Ethereum. Ethereum will underperform Bitcoin and Litecoin.
We will see a lot of volatility on ether caused by the ICO. People need to buy ETH to buy the ICO and then sell it.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
They currently do for most, and that's changing or seems to be
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit