CJ - Cryptocurrency Enthusiast
Monday saw significant downward pressure on the price of Ethereum (ETH) as a result of rising global risks. It fell to $1170, its lowest point since November 23rd. It is a few points higher than the $1075 monthly low.
The activity in DeFi, gaming, NFTs has drastically decreased following the drawback in Bitcoin price.
The price of ETH has been falling over the last few days due to worries about the FTX crash. The Financial Times reports that most audit firms are seeing cryptocurrency clients as high-risk. As a result, they are subjecting them to more intrusive audits because business is still brisk in the sector.
The continuing protests in China may also have an impact on the pricing of crypto assets. Due to these protests, the bulk of stocks and commodities have decreased. The price of ETH has recently been in a significant bearish trend, as can be seen on the four-hour chart.
The coin price could go lower, but it can also be a great opportunity to start investing in cryptocurrency as there is a lot of fear in the markets and potential drawdown is a lot less than the potential upsurge. The best cryptocurrency website to buy Ethereum or any other cryptocurrency is BC Bitcoin.