Ethereum is on Sale!
So what’s the reason for this downward trend? It’s not just Ethereum, but most major cryptocurrencies are doing the same thing. World economics is playing are huge roll in this, but so is market sentiment.
There is a lot of fear in the market right now according to the fear & greed index, but for the smart investor, this is awesome.
The lowest price for Ethereum was $888 USD on June 6. I can see that we may go below that price soon.
While the narrow minded traders are panic selling, this is a great opportunity to top up your investments, in my opinion. (I’m not telling you to buy of give financial advice), but this is what I will do.
The chart above is a snapshot of Ethereum 24 hour chart on Sept 19 2022, the yellow line near the bottom shows the last time Ethereum was low, lower than it is at this particular point in time. The fed rate increase has a lot to do with this, along with a whole pile of FUD!
Dollar cost averaging is a good investing strategy, even more so now than ever before. Time to top up I say, Ethereum won’t be this low forever!