What is to blame for the collapse of Ethereum prices in just three months, following its upsurge to nearly $1,400?
Underlisted are what I thought
1, regulation. 2, The exchanges and 3, Mining profitability: The price of Ethereum is governed not only through speculative actions, but also by mining profitability
1400$ price spike was obviously a bubble. People got too excited about Ethereum and overbought it. Now it seems like ETH is oversold and we should see a steady price rise. ETH is an awesome technology, it will eventually rise to 10k and beyond. The only question is "when?".
Looking at the charts, prices are positioned well above $ 458 for more profit. This break can open the door for further gains to a higher level. But yesterday there was a price decline of about a few percent that made the investors and traders a big loss and fortunately the increase only lasted a few days then the price returned to normal.