Ethereum’s price has set another anti-record

Earlier this week, the value of the Ethereum cryptocurrency set a new anti-record as the price of ETH fell below $ 1100.

According to analysts, Ethereum fell by 78% below its historical high and below the last 20-day indicator, which previously indicated a possible increase in the value of the digital asset in the short term. Currently, ETH is trading at $ 1075 (according to CoinMarketCap). Analysts noted that it will be «very difficult to rise from this low.»

Also, according to crypto experts, Ethereum has not yet reached its bottom, so we should prepare for a further decline in the cryptocurrency. However, many users are more interested in whether the exchange rate will change after the transition to Proof-of-Stake (PoS). As DeFi researcher Vivek Raman recently stated: «the upcoming transition to the green blockchain guarantees Ethereum will create a better economic structure for the smart contract platform, reduce ethereum inflation, and increase security.» Raman also believes that after the transition, Ethereum has every chance of overtaking bitcoin in value.