The ether-US dollar exchange rate (ETH/USD) witnessed a corrective rally to 0 levels today, with prices clocking an intraday high of 5. As discussed yesterday, the move comes at a time when the market continues to seek direction following China’s decision to ban initial coin offerings (ICO), a use case credited as helping the price […]
BitNewz.net
Ether Price Analysis China’s ICO Ban May Lead to Further Pull-backs
After Labor Day weekend, many ETH-USD traders were surprised to find a 30 market drop over the course of 3 days. After an initial drop to the 0s, the ETH-USD market suffered another blow as China announced it will be banning ICOs and conducting rigorous investigations into several of the newer coins such as NEO and OMG. This announcement from the Chinese government prompted several large Chinese exchanges to begin delisting coins under investigation. After all was said and done, the drop t
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Heading Up? Ether Prices Consolidate After China’s ICO Crackdown
The price of ether appears to have stabilized following moves by China’s regulators to curb one of its biggest use cases.
CoinDesk