Why Did Ethereum Crash Below $300?

Last year was a rollercoaster, not only for Ethereum but for almost all major cryptocurrencies and projects that are based on the blockchain. ICOs and token sales successfully managed to gather billions of dollars which is far more money that crypto companies raised from actual, accredited investors. Ether managed to increase from $10 to a whopping $1.500 in only 12 months.

These days Ethereum is not in such a great place. Ether started falling to nearly $260 in only one day. The drop could be happening because of several reasons. Ether, which is the token associated with the Ethereum foundation – has been on a downward spiral – even though it is the preferred platform of choice for most developers building on the blockchain. Currently, Ether is down 17% in only one day – marking the first time ever that the price of an Ether fell below its valuation over one year.

Despite its success, ethereum still has a lot of major issues to solve before it makes a huge impact on the market. Ethereum mainly has a big problem with the scalability. The biggest concern is that if more users join, it will slow down the transaction time even further. So before this problem is solved we can’t expect for bitcoin to skyrocket.

Ethereum strives to become the first global computing platform but investors such as Tetras are deeply worried that a market cap of billion is not justified.
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That is because ethereum cannot make handle more than 15 transactions per second. ‘’As long as Ethereum doesn’t fix their scalability issues it is highly unlikely they will succeed’’ says Tetras CEO, Mr. Young. He also stated that ‘’ Just because something is a good idea, doesn’t mean it’s a good investment’’.