Since the update, the cryptocurrency price has developed differently than many investors had hoped.
(Photo: Reuters)
Dusseldorf High hopes rested on the Ethereum update. The underlying blockchain should become faster and more secure, and energy consumption should even drop by 99.95 percent. The improved version has been running since last Thursday – so far without any problems. Nevertheless, disillusionment is spreading in the crypto world.
Because another hope that was linked to the update has not yet been fulfilled: Ether, the associated cryptocurrency, has lost significantly in value since the update. Instead of multiplying, the price is down 15 percent since the update – well below the key $1400 support level. On a seven-day perspective, the minus is even more than 22 percent.
This means that the losses are greater than with Bitcoin. The oldest and most important cryptocurrency fell 15 percent in the same period. The Handelsblatt gives four reasons for the price losses.
1. Bad market sentiment
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