Digital currency Ethereum crashes below $200 to hit 40-day low; down 50 percent since June
So the hell what it fell. If you know about cryptocurrency, you know that it will go right back up. I think the media has mixed feelings about cryptocurrency personally and I still don't care. This news piece sucks in a few ways. They are saying that the cryptocurrencyy is stored on the computer which is the partial truth. They also start with the criminal activity and make sure they associate it with our currency. Again I have mixed feelings about this piece. Nonetheless its worth checking out.
Ethereum's price slipped below $200 for the first time since May 30, continuing its fall for a second consecutive session on Tuesday.
In the afternoon trade, one ether token hit an inter-day low of $192.22, according to industry and price tracking website Coinmarketcap, which takes into account the price on several exchanges.
The cryptocurrency has now fallen more than 50 percent since registering all-time highs of over $400 in early June.
The slip in Ethereum's value, which tumbled almost 17 percent on the day, coincides with a broader sell-off in the global cryptocurrency markets.
However, despite the declines, the price of ether remains substantially higher over the course of the year. Ethereum has risen more than 2,000 percent from around $8 at the beginning of January.
Both ethereum and bitcoin have hit record highs in recent months, with the latter moving almost 1 percent higher on Tuesday trading at $2,393, according to Coindesk.
Like bitcoin, ethereum is a cryptocurrency built on blockchain technology. It trades in digital tokens called ether.
Source: https://uk.finance.yahoo.com/news/ethereum-crashes-below-200-hit-120000335.html