Ethereum (ETH) has toppled to its lowest price in a year and four months as Cryptos continued to struggle on Wednesday, September 12. However, it regained more than 12% of its value on September, 13.
The globe’s second most valuable Crypto dropped 8% to $169 on September 12, 2018, which is its lowest level since May last year and is now down 30% for the week.
Vitalik Buterin, ETH co-founder, revealed over the last weekend that "the Blockchain technology space is reaching to the level where there is a ceiling in sight."
Vitalik, while speaking at the ETH Industry Summit conference held in Hong Kong, further said:
“If you talk to the average educated person at this point, they probably have heard of blockchain technology at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”
Meanwhilst, the market depression is now worse compared to that of the dot-com bubble that happened in 2000.
Based on the MVIS CryptoCompare Digital Asset 10 Index, the crypto market value has dropped by around 80% since its January 2018 high.
And, therefore, surpasses the Nasdaq Composite Index's 78% fall back in the year 2000.