Ethereum (ETH) fell yesterday following the admiral cryptocurrency; Being the second largest currency in terms of market value, the asset had fallen to $ 226 in some spot markets.
Though the picture may seem negative, cryptocurrency analyst Michael van de Poppe has reported that Ethereum is continuing its full target of $ 300.
On Thursday (yesterday), when Bitcoin fell by 9.5%, other leading altcoins such as ETH and XRP followed this decline; The stock markets also experienced an interesting similar fate.
Wall Street had one of the worst days it had experienced on Thursday. Yesterday sales were recorded as one of the worst sales seen since March. The proposal to the FED to keep interest rates low until 2022 was a sign of the state of the economy.
As such, the founder of Ethereum could not help but comment on this and said:
What we expected: cryptocurrency would normalize and become more like the stock market
What happened: the outside world went crazy and the stock market became more like cryptocurrency
— vitalik.eth (@VitalikButerin) June 12, 2020
Indeed, it is not known where the similarities between the cryptocurrency market and the stock market will reach after the recent crisis.