– Fear of crypto bubble
– Ethereum dismay performance cripping all crypto
Bearish mood kicked in crypto world again as seeling excalates.
Bitcoin(BTC), the king of crypto kings leads the sharp slopping direction with -5% dip, with the latest traded price at $2525.90. Bitcoin relentless spike caused most seasonal market experts putting cautionary ‘bubble trap’ commentaries.
Beside Bitcoin, all big altcoins were all saw jagged losses on larest trading.
Ethereum (ETH) suffered the biggest blood spared of the day among the top 5 cryptocurrencies as bearish trend continued after it’s 4,000% surge, Ethereum is undergoing a rather indifferent fortunate in past weeks.
While it is easy to conclude that it was accurse of successful runs. Ethereum is the nucleus of all latest ICO frenzy. ETH network congestion was the obvious scapegoat to shouldered the blame amid observers scrambling for answers, but it not entirely baseless. One way or another, those ICO still need the network to channel their tokens.
The biggest loser in the top 10 however was new boy in the block IOTA which recorded almost 21% setback on the latest data.
Litecoin the latest ‘crypto darling’ on segwit success dropped a measly -11.5%. Ethereum Classic also in the red on around the the same decrese margin, followed by DASH (-9.5%) and Ripple (-6%). Another notable coins in the top 10,s NEM saw its price cut by around 13%.
These latest large scale dab might looked less ‘spectecular’ relative to last month’s crash, yet it inflicted further fears and the prevalent price douche giving the bear to gain further ground. If taking into consideration all the mainstream media and wallstreet analysis, the bear is just bare scratching its feet and ready to roar more feriously in the immediate and middle term. That is if we believe the conventional wisdom is aplicable to the crypto sphere.