Ethereum is one of the very few cryptocurrencies which is trading flat in the last 24 hours. Most of the other cryptocurrencies are down anywhere between 1% to 8% in the last 24 hours. The scene is even more drastic when you take into account the last 48 hours. As a result, Ethereum staying flat is actually good news.
Currently, Ethereum is trading around $ 379. It is up just by 0.24%. However, most of the investors will not be complaining.
Ethereum is one of the stronger cryptocurrencies in the market. However, the problem being that it is fallen drastically from the levels of around $ 900 to current levels of $ 379. This clearly shows that in the current downturn, even the larger cryptocurrency are stronger cryptocurrencies have not been spared. Many of the investors at invested significantly in Ethereum at higher levels. The expectation was Ethereum will be able to negotiate quite easily any kind of downturn. That is why, many investors thought that Ethereum will help them in protecting their money in whenever the recovery happens, Ethereum will be the 1st one to recover.
On the contrary, Ethereum fell significantly in the last leg of the cryptocurrency downturn. This is the reason why many investors are not sure what to do about Ethereum. At the same point in time, the applications underlying the technology of Ethereum increasing day by day. The usage of smart contracts is also increasing. In addition to that, many ICOs and developers are using the Ethereum platform in order to utilize the features which are provided by the platform. Thus, the underlying application of Ethereum is pretty strong. Only due to the market sentiment, Ethereum is falling consistently. This creates a significant risk as well as the opportunity for the investors. If indeed, they think about investing at these levels for a longer period of time, they might be able to get a good return. However, in the shorter term, nobody can predict the exact levels to which it will fall. This is the main risk which is involved in investing in Ethereum at the current levels.
With that being said, it remains to be seen whether the rebound is going to happen anytime soon or whether it falls significantly from the current levels as well. Currently, any signs of recovery are not present as at the most, Ethereum has traded flat in the last 24 hours.