Ethereum and why it has crashed so hard this year

During this crash, Ethereum has fallen harder than most other coins and this is because of a double or triple whammy. Aside from the overall fall in the market which would drag Ethereum prices down, many of the ICOs that debuted on Ethereum blockchain have failed which further drives down its price. In addition to that, the well-intentioned ICOs that were doing pretty well funded their ICOs with ETH and not cash so when Ehtereum dropped from over $1000 to $300, they lost 70% of their start-up capital and probably could not afford the resources or staff they once had so even more of them failed. This all reflects badly on Ethereum, which makes it fall even further. In a bear market, this could be a self-perpetuating downward spiral. However, the good news is that when the market starts to improve, these factors will work in reverse and Ethereum may recover much faster than other coins.

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