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.
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Ethereum price: an indication of a long-term bearish trend reversal?"
How do you think ETH?
Ethereum is obviously struggling still to make a comeback out of continuous downtrend this year. Maybe it would be needing more time to recover from the huge loss on its market value last year whereas it is at its peak. No assurance yet on when will exactly recovery would happen but it would be necessary to hold and wait.