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.
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.
I guess it's because of the slowdown of the ICO hype.
Since ETH is the primary platform on which the ICO tokens are issued on, when ICO hype dies off it obviously means that ETH will be less attractive to investors as well. That's just how it works. Also bitcoin dominance has been pretty low, and it's just returning to its normal level. ETH being the second largest crypto has a lot to do with the bitcoin dominance going to all time lows, and now the trend is reversing.
Just normal market volatility. Not everything follows past performance.