As the top markets try to claw their way out of the hole again, it remains to be seen how successful these attempts will be in the end. For Ethereum, there is a lot of pressure to contend with. Part of the reason is Bitcoin’s decline, but there is also some concern over the implementation of ProgPoW. For now, the Ethereum price remains above $140, albeit just barely.
When Bitcoin starts to lose value – albeit ever so slightly – it usually doesn’t take long for all of the alternative markets to go down in price as well. While these losses may not necessarily remain in place for a long time, it puts another wave of pressure on all markets. Such momentum is very common during the weekend, as Saturdays and Sundays are usually synonymous with portfolio losses. This weekend has not bucked that trend, despite some initial excitement on Saturday morning.