Investors are thinking about Ethereum (ETH-USD) price predictions on Thursday as they deal with the ongoing crypto crash.
Even a major player like ETH is vulnerable to crashing. The crypto-currency has lost value in recent days as much of the market continues to fall. As of this writing, Ethereum is trading at around $2,000 per token. This is the highest price since July 2021.
Investors wondering what caused the cryptocurrency crash can point to a few different causes. The permanent economic pressure is an example of this. This is due to rising interest rates, rising inflation, talk of recession and the war between Russia and Ukraine.
It is understandable that traders want to know where cryptocurrencies are going after the recent crash.
Will cryptocurrencies recover?
The news sparked speculation as to whether the market has reached the predicted period of cooling, referred to as the “crypto winter,” or a more permanent cooling, perhaps referred to as the “crypto ice age.” Read also: Do you plan to become a millionaire with crypto-currencies? Ethereum (ETH), Logarithmic Finance (LOG), and Binance (BNB) are ready to help..
“Bitcoin continued to slide and closed below $30,000 for the first time since last July, although the drop did not trigger a big sell-off and the price is trying to recover $30,000 in the trading session. Thursday in Tokyo,” Yuya Hasegawa, cryptocurrency market analyst at Bitbank, wrote in an email note seen by Forbes.
One factor that may give hope to cryptocurrency investors is that the big players are starting to join the party.
JPMorgan Chase, Morgan Stanley and Goldman Sachs are among the societys on Wall Street that have teams specializing in cryptocurrencies. Meanwhile, traditional hedge funds led by Alan Howard and Paul Tudor Jones are pouring billions of dollars into digital currencies.
Some of the Queen’s Speech provisions target those who use crypto-assets to commit fraud, but little is said about how to protect those who choose to invest in them.
A regulatory drag could bring cryptocurrencies down even further, while quick decisions could preserve any inherent value that exists.
The future is uncertain: a brief winter break or an end-of-period ice age seem possible. No individual currency or platform will be able to withstand it.
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