Ethereum fell 47.5% in the first quarter of this year, setting the largest quarterly decline in history
January, 2018: Ethereum prices set a new high in the history of the Ether.
The Ether began a new year at a high level. On 13th, January 2018, the Ether coin hits a record of 1,432 US dollars. However, with the rising market panic, Ethereum prices in the second half of January, has been pushed down to the $ 1,000. However, on 31st January 2018, the price of the Ether coins reached at $1118 and still rose by 47%.
At that time, many investors believed that the Ether was a asset in the cryptocurrency market. The main reason for this idea is that many initial issuance (ICO) projects are proposed on the Ethereum platform, and the use of Ethereum is required to pay for the fees, so investors believed that this cryptocurrency will have a stable demand.
February, 2018: U.S. regulators hold hearings and raise concerns about ICO oversight
On 6th February 2018, the US Senate Banking Committee, the Securities and Exchange Commission (SEC) focused on the ICO fraud - it results to an Ethernet currency fell to around $650.
However, with the overall recovery of the market, the price of the Ether coins rebounded to 574 US dollars. Then, the subsequent rally lost momentum near the $1,000. As in the end of month, Ether price dropped to $850, in a month it fell 23 percent.
March, 2018: The United States Securities and Exchange Commission to take action, and social media advertising bans
In March, the US Securities and Exchange Commission confirmed they are investigating dozens of tokens issued in initial projects, leading to an Ether currency fell below than $500. After that, tech giants such as Google, Facebook and Twitter also announced that they would ban cryptocurrency advertising, causing prices to fall further.
Overall, in March Ether currency price decline to 53%. However, although the overall performance of Ethereum in the first quarter of this year was not optimistic, its price increase was still up to 700%.