After hitting a one year low earlier last week, the Ethereum price has been struggling to stay above the $ 200 level. At the time of writing ETH is trading at $ 196, down over 10% in the past 24 hours. What is going on? What does the future hold for Ethereum? This article will attempt to answer these questions.
What is going on with the Ethereum price?
Other than the obvious factors such as the whole cryptocurrency market falling along with Bitcoin, thus dragging the Ethereum price down. There are rumors floating around that ICOs are liquidating their ETH holdings to recover some value. In the month of September alone, ICOs only raised roughly $ 21 million, which is nothing compared to the hundreds of millions that was being raised last year.