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?
Now Ethereum prices really continue to decline. But in fact, this situation is now characteristic of the entire crypto market. I really hope that with time it will normalize, we will be able to see a gradual rise in prices of Ethereum and other good cryptocurrencies from the middle of next year.