Hi all!
After falling below the 200 billion USD mark, the market recovered slightly for now. Albeit: there are no signs towards a new price rally this year.
The market just lacks a fundamental momentum. In comparison last years pricerally was fired up by ethereum. That you can see in the graphic below. Unfortunatly the curve has about the exact same shape economists draw when to explain what a speculativ bubble is.
Source: https://coinmarketcap.com/currencies/ethereum/
Starting with the value of just under USD 80 on May 1, 2017, the price increase to more than USD 1360, but currently leaves no USD 300 remaining. This puts the price of ether below that of a year ago.
The course of Bitcoin is indeed identical, as the following graph shows. However, Bitcoins price remains increased even after hype and the burst of the bubble.
Source: https://coinmarketcap.com/currencies/bitcoin/
So has Ethereum failed? Or is the market currently just reorganizing itself after the first experiences with Ethereum? Let me know what you think. Until then
Your JP