What would happen if Ethereum lost the entirety of its value and dropped to zero? How would this affect the industry and investors? Ethereum's price started climbing steadily and then shot up to over $300 in June of the same year.
Ethereum's price then remained in the low hundreds until early 2018, when it surpassed $1,000 for the first time. It wasn't until the crypto boom of early 2021 that Ethereum hit multiple thousands in price.
This sharp rise in price isn’t sustainable in a market environment like this, which is highly influenced by the stock market and Geo political factors, this is why I think most cryptos including Ethereum will fail and people who bought NFTs are the real losers not traders.
So therefore once ETH breaks below 300$ again it can just drop like a rock to its bottom around 11$. Bitcoin could be at 8000$ again as it get dragged down by the other coins.
Ethereum's price then remained in the low hundreds until early 2018, when it surpassed $1,000 for the first time. It wasn't until the crypto boom of early 2021 that Ethereum hit multiple thousands in price.
This sharp rise in price isn’t sustainable in a market environment like this, which is highly influenced by the stock market and Geo political factors, this is why I think most cryptos including Ethereum will fail and people who bought NFTs are the real losers not traders.
So therefore once ETH breaks below 300$ again it can just drop like a rock to its bottom around 11$. Bitcoin could be at 8000$ again as it get dragged down by the other coins.