Investing
Ethereum price drops to a 7-month low as data points to more downside
© Reuters
Ether (ETH) price experienced a 7% decline between Oct. 6 and Oct. 12, hitting a seven-month low at $1,520. Although there was a slight rebound to $1,550 on Oct. 13, it appears that investor confidence and interest in are waning, as indicated by multiple metrics.
Some may argue that this movement reflects a broader disinterest in cryptocurrencies, evident in the fact that Google (NASDAQ:) searches for “Ethereum” have reached their lowest point in three years. However, Ether has underperformed the overall altcoin market capitalization by 15% since July.
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