The spike in Ethereum's price occurred despite Baidu's anti-cryptocurrency measures. Baidu followed Tencent and Alibaba suit by censoring online speech related to cryptocurrencies and restricting access to crypto-focused forums and discussion boards. The company cited the laws, regulations, and policies as the main reasons for this censorship. Many popular cryptocurrency chatrooms, including the famous Digital Currency Bar and Virtual Currency Bar" were blocked by Baidu.
From "
Ethereum price: an indication of a long-term bearish trend reversal?"
How do you think ETH?
I don't know if what is happening to ethereum now is as a result of that, if that was affecting the cryptocurrencies so much then so many more coins will be affected but now it is just ethereum that is taking such a hit which means that there is something that is going on with eth as we speak. We need to give it time as it will become more apparent with time.