ETHEREUM News Today: ETH signs by 30 % worse in February years, even as gray files for ETF
In the latest ETF news, GrayScale officially introduced to get Ethereum Spot Etf with SEC. The news did not ignite a significant momentum for Altcoin, which has been preparing to spread its worst in February years.
ETHEREUM decreased by nearly 2 % a day to trading less than $ 2,200 and has not yet recovered from The collapse of the flash market yesterday This has eliminated more than $ 400 billion from the market and liquidated $ 300+ a million dollars ETH.
The accident was not only sent to its lowest level for 3 months, but also reduced any chances of possible recovery to the highest altcoin, which is scheduled to record the worst February in years.
Ethereum score for stars in February
Historically, Ethereum’s performance was very well in February. In fact, it has always ended the month in green, with the only exception of February 2018 when its value decreased by 59 %.
At the time of this report, Ethereum decreased by approximately 30 % a month, making this second matter of February in history.
To keep the impressive February, the Ethereum Bulls must pay the price to the top of 2600 dollars in 48 hours.
Reasons for the disappointing performance of Ethereum
Two major workers may be attributed to the later prices over the past thirty days. The first was The trade war caused by Trump’s tariff That had a significant impact on the origins of risk.
This led to the collapse of encryption that led to a $ 10 billion in night liquidation of the encoding deals resulting from the benefit.
The second is continuous Loss of investor confidence in Ethereum. This is evident by the growing landmark and the main technical indicators revealed.
On the ETH/USD graph, for example, Altcoin contains 33 meters of the highest level at 50 at the end of January. MACD was also in the negative area of the entire month of February, indicating the growth of the growing bear.
Can Ethereum recover?
Yes. We believe Ethereum will recover at the endWith the long -term predictors to penetrate the mark of $ 7,000 before the end of the year.
In the short term, it is expected to continue trading sideways in response to the feelings and religious investor at all as well as total factors such as ETHEREM ETF approval and changes in the encryption policy.
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