I hold some ethereum, but currently the price of ethereum coin has dropped a lot, I bought ethereum at $3000, now it's down to $2500. Is the price of Ethereum likely to increase?
Not only ETH but all other coins including Bitcoin have suddenly dropped in price. But it will recover again so don't sell at a loss if your financial backup is to meet daily expenses. It has temporarily dumped a bit so don't panic after seeing them just hold patiently as the price of ETH is now much lower than your purchase price. ETH price has a huge possibility to hit $10k in future so you should hold patiently. patience is they key of success. so you should keep in your mind that hold is gold specially for Bitcoin and Ethereum
I do agree that it will recover, way too many people are thinking that it is going to do fine, and we should be considering the fact that it is going to take some time and that is why I believe that we are going to make some profit if we keep holding at times, and this is one of those days and I think it is going to do just fine, we could make that work if we just keep on holding it.
Right now it is way too low, ETH is low too, well to be fair everything is low right now because we just had a crash, mainly due to Japan, but also recession, well both combined. I think that was just a temporary thing and with time we are going to see it do well. Recovery is something we do very fast, so it should not be a big deal and we can do it very quickly.