Hey guys, second crypto video of the day. So right now Bitcoin, Ethereum, and really all crypto currencies have been having a rough couple of weeks.
Prices are down, however unlike some times in the past where there seems to be a reason for prices being down, right now it seems like many people are kind of at a loss.
Now in the case of Bitcoin it could be people worried about the upcomming potential fork which would make sense but why is Ethereum being hit so hard?
On my drive home from the office today I was listening to some Youtube videos addressing these questions and came upon two possible answers.
All the recent ICO's or Initial Coin Offerings mainly took Ethereum. When these companies who raised this money need to buy office space or servers or hire employees they need to cash out their Ethereum to fiat in order to do a lot of these things. This causes a lot of Ethereum to be dumped and thus affects the price.
George Soros is crashing the Ethereum market. While the video did strike me a bit as very conspiracy theory-ish, I can't really say it's that far fetched. George Soros is a scummy guy, he's crashed fiat markets so its not that far fetched to think he would try to crash a currency market, and also what makes this make even more sense is cryptos and them being open source and sort of taking away power from central banks and politicians and the elite, it wouldn't shock me if someone like George Soros wanted to sabatage them.
Anyhow, I'll link to both videos I mentioned in this video below...
@JSnip4 ICO's Are Causing Ethereums Price To Waver
@DavidSeaman George Soros Is Sabataging Ethereum
