Ethereum price starts declining when ICOs started failing due to scam. We all know that majority of new projrcts us their platform that is why the demand for ethereum decreased. If this continue or if there is no further development on the ethereum's team part, ethereum might as well go down in ranking in regards to marketcap.
When most of the projects that fail and in funding using ethereum can indeed be one of the triggers of falling prices from ethereum because we many projects that fail and get so much ethereum they sell the ethereum assets and the amount is not small. so many lists of failed projects and huge funds.plus that this year IEO has become the main interest of investors. and the presence of IEO has no effect on ethereum
Well ethereum platform is indeed being used of more IcO and the failure of those project really effect the value but it doesnt mean that this is the reason for falling,I think this is about the power of bitcoin affecting everything and we cant deny it by looking at the chart
I think that it is difficult to calculate how much Ethereum investors have invested in new projects over the past years, while most of these projects were not promising or fraudulent. But one way or another, all these ethereum were withdrawn from the cryptocurrency market, due to which the capitalization of ethereum fell, as did its popularity. I believe that the quality of projects that use erc 20 directly affect the popularity of Ethereum, although Ethereum has not yet fully demonstrated its full potential. I very much hope that Ethereum becomes a full-fledged coin with its blockchain and will be independent of Bitcoin. Maybe my words will seem dubious to someone, but I believe in the potential of ethereum much more than even Bitcoin. The main problem of Bitcoin is scalability and it is much more difficult to solve it than for ethereum.