We analyze the significant fall of Ethereum, which is based on rumors, false information and erroneous publications by important media, as well as a possible stabilization of the bubble in which this cryptocurrency has been involved.

The values ​​of cryptocurrencies today are in the red and none are saved, they are all losing value. Bitcoin, Zcash, Dash or Monero lose a lot, but the one that is falling the most is Ethereum. This is due to, among other things, the small sales flash that occurred a few days ago, going from $ 317 to $ 0.1 for a few seconds, which is known to have occurred due to the hacking of an Ethereum account that was put up for sale a lot of these cryptocurrencies for a very low price, but the other reason is false information.

The first false information, which has caused a drop in the last 24 hours of approximately 20% is the information that was posted on 4chan. In the anonymous messaging portal that anyone can read without major problems, it was published that Vitalik Buterin, creator of Ethereum, had died in a car accident. Quickly this morning he took a photo to show that he is alive and uploaded it to Twitter, but it did not stop the bleeding this morning.

The Times, without further information, has echoed a comment made by businessman Brock Pierce, who would have said that British programmer Gavin Good was the actual creator of 100% of the Ethereum code and not Buterin. Even the serious media eat these lies and you have to know very well this complex market, which is often based on false information, to cause a drop in prices, in order to make money easily.

This falsehood has an explanation and that is that Wood has worked on part of the Ethereum code and is also the founder of the client based on the Parity browser, stating on his website that 'he codifies the first functional Ethereum application (...) at the end of January From 2014, he invented the Solidity contract language and wrote the Yellow Paper, the first formal specification of the blockchain protocol and one of the main forms of Ethereum used to distinguish itself from other blockchain systems. '

Buterin is more active than Wood in social networks and is seen more in the media, so the world watches him and when something goes wrong, everyone points their finger at the Russian programmer. Those who follow the cryptocurrency from the beginning, know of the importance of Wood in the cryptocurrency and know that Buterin is not the only intellectual author of this cryptocurrency.

We must emphasize that the third reason and the most logical option is that it is undergoing a correction in value, which could be temporary, after a vertiginous flood a few weeks ago. Experts have agreed that a correction was necessary and that it would happen sooner or later. Buterin a few weeks ago commented that the only way to solve the bubbles is to let them continue on their way and explode themselves. The truth is that the rise this year for Ethereum has been brutal and has been boosted by the success of some ICOs, which are digital project financing processes based on Ethereum.

Source: mashable