{"id":55574,"date":"2019-08-21T11:56:55","date_gmt":"2019-08-21T09:56:55","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=55574"},"modified":"2019-08-21T11:56:58","modified_gmt":"2019-08-21T09:56:58","slug":"ethereum-enduring-first-mainstream-bear-market-as-prices-plummet-again","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/ethereum-enduring-first-mainstream-bear-market-as-prices-plummet-again\/","title":{"rendered":"Ethereum Enduring First Mainstream Bear Market as Prices Plummet Again"},"content":{"rendered":"\n<p>Ethereum appears to be mimicking Bitcoin\u2019s bear market a few\nyears ago as the world\u2019s second largest crypto asset fails to gain momentum.\nYet again ETH prices have plunged back below $200 as BTC remains range bound\nand the market chop continues.<\/p>\n\n\n\n<h2>Ethereum Dumps 6 Percent<\/h2>\n\n\n\n<p>As Bitcoin failed to breach the $11k target and fell back\ntowards $10k, the altcoins got battered again. Market movements have been\ngetting predictably tedious over the past six weeks \u2026 unless you are a swing\ntrader. BTC is now in danger of dropping back into the four figure level for\nthe fifth time since the rally began in early April. <\/p>\n\n\n\n<p>According to <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Tradingview<\/a>, Ethereum prices have also taken a dive as the asset remains hopelessly anchored to the movements of its big brother. A hopeful retest of $200 did not last long, less than 24 hours in fact. During Asian trading today ETH has dumped 6% in a slide down to $186. <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img width=\"1024\" height=\"557\" src=\"https:\/\/mk0ewnuslp5v9qmau0q.kinstacdn.com\/wp-content\/uploads\/2019\/08\/ethchart2108-1024x557.jpg\" alt=\"\" class=\"wp-image-55575\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2019\/08\/ethchart2108-1024x557.jpg 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2019\/08\/ethchart2108-300x163.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2019\/08\/ethchart2108-768x418.jpg 768w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2019\/08\/ethchart2108-750x408.jpg 750w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2019\/08\/ethchart2108-1140x620.jpg 1140w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2019\/08\/ethchart2108.jpg 1450w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><figcaption>ETH price 1 hour chart &#8211; Tradingview.com<\/figcaption><\/figure>\n\n\n\n<p>Ethereum is almost back at its lowest level for three months\nagain so it would be fair to say that it is still in the depths of its first\nmainstream bear market, as noted by industry observer Chris Burniske.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>\u201c$ETH is enduring its 1st mainstream bear market, just as $BTC did in 2014\/15.<br> In retrospect, 2014\/15 was the best risk\/reward period for investors to get BTC exposure.\u201d<\/p><\/blockquote>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">1\/ <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$ETH<\/a> is enduring its 1st mainstream bear market, just as <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$BTC<\/a> did in 2014\/15. <br><br>In retrospect, 2014\/15 was the best risk\/reward period for investors to get BTC exposure.<\/p>&mdash; Chris Burniske (@cburniske) <a href=\"https:\/\/twitter.com\/cburniske\/status\/1163895000502902784?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">August 20, 2019<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Ethereum is currently 86% down from its all-time high and in\ndanger of increasing that percentage. Burniske added that network momentum does\nnot correlate to price action and there is a lot of negativity towards ETH,\nprimarily from Bitcoin maximalists.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>\u201cTo objective observers, the network\u2019s momentum was clear despite the bearish price action; those pre-disposed to dislike based on perceived vested interests, were blinded by biases &amp; missed the bus.<br> What happened to $BTC then is happening to $ETH now.\u201d <\/p><\/blockquote>\n\n\n\n<h2>Ethereum Evolving <\/h2>\n\n\n\n<p>This year has been a nightmare for most of the altcoins, Ethereum no exception. Network momentum, core developments and upgrades, dApp usage, and <a href=\"https:\/\/en.ethereumworldnews.com\/ethereum-founder-vitalik-buterin-crypto-adoption\/\">smart contract adoption<\/a> appears to have had no effect on token price. The scene in 2019 is very different to 2017 when these things were driving altcoin FOMO and prices to new highs. <\/p>\n\n\n\n<p>Ethereum is still evolving and the <a href=\"https:\/\/en.ethereumworldnews.com\/istanbul-hard-fork-ethereum-devs-agree-to-make-six-different-code-changes\/\">Istanbul\nhard fork<\/a> slated for Q1 2020 will bring in a <a href=\"https:\/\/github.com\/ethereum\/EIPs\/blob\/master\/EIPS\/eip-1679.md\" rel=\"nofollow noopener\">raft of\nimprovements<\/a>. It will be rolled out in two stages with the first including\nsix EIPs (Ethereum Improvement Proposals) hitting the mainnet in October this\nyear. Blockchain interoperability and security will be improved and two more\nmajor EIPs will be included in the second phase.<\/p>\n\n\n\n<p>Ethereum is a system that is growing with constant upgrades in addition to usage and adoption. At the moment, however, token prices do not reflect that as the bears continue to keep ETH grounded. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum appears to be mimicking Bitcoin\u2019s bear market a few years ago as the world\u2019s second largest crypto asset fails to gain momentum. Yet again ETH prices have plunged back below $200 as BTC remains range bound and the market chop continues. Ethereum Dumps 6 Percent As Bitcoin failed to breach the $11k target and fell back towards $10k, the altcoins got battered again. Market movements have been getting predictably tedious over the past six weeks \u2026 unless you are [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":55577,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[823,2],"tags":[7008,7002,314,7080],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/55574"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=55574"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/55574\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/55577"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=55574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=55574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=55574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}