One thing to take into account is how the recent Ethereum network congestion issues paint a worrisome future for this technology.
If Ethereum can’t scale because of an increased number of transactions, it seems impossible to support all of the Dapps and other projects building on top of this ecosystem right now. Not being able to handle transactions is quite problematic, as it creates major network congestion. If this blockchain can’t scale properly, none of the Dapps will function properly in the future either. That would be incredibly bad for Ethereum as a whole.
It is evident this bullish trend is causing a lot of negative pressure for all cryptocurrencies. Ethereum is incapable of escaping this downward trend, although it seems to hold its own around the 0.1 BTC mark for now.
Then again, things can change rather quickly in the world of cryptocurrency.
With so much uncertainty in the markets right now, further declines are to be expected. The only question is who will suffer the biggest losses in the next few days.
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