Ethereum down 50%, bitcoin falls 22%
Bitcoin, the world's first cryptocurrency, has dropped around 22 percent from its all-time high of USD 3,000 last month, and was trading at levels of USD 2,330 at the time of filing this report, as per Coindesk price index.
Bitcoin's closest rival ethereum witnessed a phenomenal rally this year. It appreciated from levels of USD 8 in January to all-time highs of USD 400 in June, a 5000 percent rally.
Now, it has corrected over 50 percent from its peak and dropped below levels of USD 200. It was trading at levels of USD 198 at the time of filing this report, as per Coindesk price index.
On Tuesday, ethereum's price fell below $200 for the first time since May 30; the cryptocurrency has fallen more than 50 percent since hitting an all-time high of over $400 in early June.
Predictably and proven now, the price of bitcoin and other currencies continues to decline, everyone feels uneasy about this, but i think it will end and will not continue to experience a sustained decline later in the year. Do not get too panicked i think this drop is only temporary for sometime, and will coming back up to high again on next time. Do the best and stay saving a profit.
Hope so... It's back in track again