Are you watching ethereum right now?
It is on 255 USDT at the moment and the price goes down.
As an economist, I expected this scenario so I didn't put any money on it.
The main reason: I did't believe that exponential price increase of more than a 5000 percent in a five months is normal.
Yes, there was some adoptions and companies are trailing ethereum, but in my opinion this can't explain market trends.
Also, Vitalik Buterin, Ethereum founder, many times emphasized that he is skeptical about this (new) price. And who can understand better the cryptocurrency, than the one who made it?
My expectations:
- trend will be changed soon
- in a short run price will be more volatile
- price will fall even more
So what do you think? Will ethereum collapse?