Crypto

Ethereum Dips Below $100 for the first time this year, is ETH Doomed?

Once the world’s second largest cryptocurrency, now sitting on the third spot, right behind a perceived threat and rival Ripple XRP. For the first time this year, Ethereum has lost its momentum and moved below the $100 mark and is now dangling at a trading price of $97 as of this writing.

Currently, the cryptocurrency market has all the top six tokens blinking in red since the last 12 hrs. In losses, the Ethereum has shredded as much as 8.63% and is now battling to stay on the $90 edge, a move that may be impossible to maintain if the token continues to depreciate.

On the 5th of December, the Ethereum showed bearish signs when the token closed at a price of $102.48 after managing to gather an opening price of $110.34. The Ethereum traded at a daily all-time high of $110.60, not very far from its opening price. The big blow began when the token hit a daily all-time low of $102.48, as usual, one would expect an upswing but it never came. Instead, the token closed at the same price and has since fallen twice to the $90 level.

Bitcoin has also declined by 5.52% since today, it looks like the big bull is succumbing to bearish trends and will have to build a higher trading volume in order to move back to a $4000 mark. At the moment of this writing, Bitcoin is trading at a price of $3667.75 while market cap sits at $63.85 billion.

Meanwhile, Tether and Bitcoin Satoshi vision have been blinking in green lights with decent gains. Although tether has increased by just 0.47%, Bitcoin Satoshi Vision has moved even higher with gains reaching 16.57% and a trading price of $105.47, the growth is quite impressive, seeing that the token was at a $90 level for the past one week. The breakout was highly unexpected especially because Bitcoin Satoshi vision had traded as low as $86.31 yesterday.

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