Why is the price dropping so much right now?
The price usually goes with the trend, it can go down or it can go up regards of the outbreak of news. - It usually take upto 35 days for bad news or good news to influence the market.
If you would do a thorough research you will discover that the news trending now is that many countries are trying to regulate and embrace blockchain technology. - More and more projects are starting to get built on Ethereum because its the most secure and reliable to use - Venezuela issued its first oil backed cryptocurrency on Ethereum (Petro Dollar) which is a good development for etherium.
All of ethereum correction caused by the bitcoin itself. As you can see ethereum gets more drop than bitcoin but it looks something good hgive anohter waves to the ethereum itself. The price usually goes with the trend, it can go down or it can go up regards of the outbreak of news. - It usually take upto 35 days for bad news or good news to influence the market.
If you would do a thorough research you will discover that the news trending now is that many countries are trying to regulate and embrace blockchain technology. - More and more projects are starting to get built on Ethereum because its the most secure and reliable to use - Venezuela issued its first oil backed cryptocurrency on Ethereum (Petro Dollar) which is a good development for etherium.
Due to the bitcoin transaction fees decreasing a lot and people are thinking it's better than ethereum but they are forgetting about the purpose of etheruem itself to provide future technology rather than the blockchain only for actual payment system.