Ethereum price dropped below $ 500
Cryptocurrencies continue his decline in this Sunday. Special painful can turn out to fall Ethereum, which the today for the first time since the beginning of December fell below $ 500. Over the week, cryptocurrency has fallen in price by one and a half times and by 70% over the past 3 months.
At these levels, cryptocurrency bargained before December 11, that is, before launch bitcoin futures. On the Ethereum chart, a large green candlestick corresponds to the start of trading in futures. A similar candle can be found on the chart bitcoin 5th of December.
The next significant point on the way Ethereum may be the level of $ 420, that is, the maximum of May 2017.
Regarding today’s fall, popular Twitter commentator WhalePanda suggests that it may be related to leading respect cryptocurrency projects by the SEC investigation and exchanges USA and on the other, so far unknown information, which forces some ICOs / large holders cryptocurrencies liquidate their assets.
Recently a representative of the department confirmed, that the regulator conducts “dozens” of such investigations.
Most other cryptocurrencies are falling at the same time. Bitcoin dropped by 5% in the last 24 hours and is traded about level $ 7 800. More of all of the top ten lost Cardano and Stellar – 18% and 20%, respectively. When this Cardano is trading already 90% below maximum start January about $ 1.30.