Ethereum suffers a major crash in the last hour for unknown reasons
A large amount of Ethereum is sold by surprise, causing it to revalue in the red, while Bitcoin continues to rise in value after a regularization in South Korea and the abolition of commissions in Japan.
We are always with an eye on the cryptocurrency markets, to see the movements of the main values and those minor but alternative and profitable values. Ethereum, Zcash, Bitcoin, Monero, Ripple, Litecoin, and Dash are the securities that we tend to observe most closely. In the last hours a rather rare effect has been generated and it is the loss of value of Ethereum, quite slowly, but we have observed that it has plummeted During the last half hour with a massive sale of capital, causing its exchange value to dollars fall intensely and also with respect to the change in Bitcoin.
We have been investigating for a while what may be happening and why this change is taking place, but there is no clear data about it. During the last hours, the completion of the regularization and legislation on Bitcoin and the abolition of the imposition of the 8% commission on Bitcoin transactions has been reported. These are two pieces of information that make us think of a massive change from Ethereum in both countries to Bitcoin, something that would be predictable, but that would hardly happen on such a large scale.
The next step has been to access CoinMarketCap and see how Bitcoin values move in all exchange houses and we were surprised that except in Bithumb, the most important exchange house in South Korea, followed by Korbit and Coinone, everything is more or less stable. In the exchange houses of South Korea, Bitcoin is around $ 2700, while in the rest of the exchange it oscillates between $ 2520 and $ 2600, a difference that falls within the normal parameters, therefore there is no movement anomalous market.
We have been surprised by going to the Ethereum section and here we have found a more prominent anomaly that has surprised us. Asian exchange houses have a value for Ethereum of $ 280-285, a tight margin, but on the other hand, in Poloniex and other exchange houses that allow the exchange of this to Dollars or Euros, we see that the value is between 260- $ 270. Here, the difference is more noticeable, because we are talking about a difference of approximately 10% of the value, which makes us think that something is happening and has not yet transpired. We will continue investigating and any information we have, we will tell you.
Ethereum has generated distrust among major investors as they watched the network become saturated, forcing gas prices, or the cost of transactions, to increase.
For now, what's clear is that Litecoin is undervalued compared to other currencies, and based on the constantly increasing daily volume it's seen recently, it's concluded that large capital investments are moving toward this cryptocurrency. Its current value, proportional to Bitcoin, should be around $785, and I believe this is something the Asians have analyzed. It's important to remember that Bitcoin, like Litecoin, are limited in their production, meaning they're deflationary, one of their best features. While Ethereum, for now, it's unknown how many will be created, will likely behave like fiat money, meaning it will have infinite production.
Another currency that has stabilized in price is Ripple. Although it's intended for interbank use, it's one of the currencies with the greatest potential to rise. If the world's banks agree to use it, moving trillions of dollars daily, and assuming that at some point volumes of just $1 trillion are processed, Ripple would have to be worth at least $10. Do your own math and draw your own conclusions.
having double R9 295 × 2 what should I mine litle coin instead of ethereum nowadays then?