There isn’t any question that ethereum continues to stay popular in the cryptocurrency world. Yet, you might have thought something was wrong on Thursday, June 15 if you follow price analysis of ethereum. Both ethereum and bitcoin took a sudden nosedive to 25% their usual value due to an outage through the most popular crytocurrency exchange: Coinbase.
So what happened to make this occur? Does it portend ethereum needs more secure ways to trade due to its extreme popularity?
The Fault Behind Coinbase
According to reports, Coinbase blamed overly heavy traffic why their server suddenly crashed. For those paying attention to ethereum price analysis on a daily basis, it likely gave you a bit of a scare on what was going on.
Even though ethereum continues on a fast-track toward phenomenal price growth, it has some fluctuations now and again. Some might have thought this was another example. The Coinbase crash, though, occurred for four hours and required two days before ethereum could get back to the price level it was days before.
It gives some proof online cryptocurrency trading systems aren’t quite as reliable yet as regular stock exchanges.
Will More Support For Ethereum Create Solid Online Trading Sites?
Despite the extreme popularity and rising price of ethereum, it’s had its share of critics, leading to temporary selloffs. Part of this came from Mark Cuban’s recent statement on Twitter doubting the value behind bitcoin and ethereum.
Plus, you have Morgan Stanley putting down the justification on the high price of ethereum due to lack of governmental regulation. Nevertheless, Morgan Stanley still acknowledges the rise in value. The same goes with Mark Cuban admitting to blockchain technology being valuable.
These “bubbles” aren’t likely to affect ethereum’s popularity. As it continues to rise in value, we’ll probably see other exchange sites pop up with fortified servers. Clearly, Coinbase still has some frustrating aspects to it to stay as a lone exchange site.
Making Ethereum a More Serious Investment
With the Enterprise Ethereum Alliance already having major backing from the biggest financial organizations, the consensus only gets bigger on how valuable ethereum is. Outside of Morgan Stanley being a rare holdout due to skepticism, it’s a good idea to invest now before the market becomes overly crowded.
We may still hear about cryptocurrency exchange sites crashing until we see ethereum become a standard transaction method globally. As ethereum price analysis shows, this is just around the corner.
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