With the cryptocurrency market, there seems to be no end to the rush of blood. On May 12, Ethereum (CCC:ETH-USD) traded at highs of $4,362. As I write, Ethereum has slumped to $2,667.
Source: Filippo Ronca Cavalcanti/Shutterstock.com
A 39% correction within one week seems significant. However, it’s worth reminding that Ethereum was trading at $735 at the beginning of the year. The cryptocurrency is still higher by 264% for the year.
At the onset, there are two reasons that…
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