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.
Not, Only ETH but most of the cryptos in the world including BTC are facing a downtrend in the prices. ETH is also dependent on the price of BTC and as the price of BTC goes down it also affects the ETH prices and other alts. I think the market will recover to an all-time high in coming months.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.