Volatility is often common for popular digital currencies, but Ethereum is taking things to another level. A couple of hours ago, the ether-dollar (ETH-USD) exchange price managed to fall to US$275, which represents its lowest trading level since the 23rd of September. However, the price quickly recovered and hit US$311 a few hours later.
The last 24 hours of trading have shown an interesting trend for ETH-USD, considering the fact that the trading day started with prices slipping by roughly 3.3% and then quickly regaining all the lost value, all within the span of two hours.
This is especially interesting considering that on a week-on-week basis, the ETH price was down by roughly 14.97% despite its high trading volume. Many believe that this decline was a necessary correction given the high performance manifested by the digital currency during the first half of 2017. After all, the ETH price managed to hit a new all-time high of US$400 shortly before China decided to ban initial coin offerings back in September. While Bitcoin quickly recovered from the bad news, it took Ethereum a while longer, and it seems like the latter coin is still in a recovery phase.
However, recent trading has caused the ETH price to rise from a low of US$275 to a high of US$311 within a matter of hours. At the time of writing, GDAX lists the price at US$307.88. A 7.28% increase is a much-appreciated sight for investors and traders alike.
Based on all the above, what are your thoughts on recent volatility in the ETH markets? Let us know in the comment section below.