“Now that the price has started to rise, I’m starting to see a lot of traders throwing in the towel and just jump in and make sure you don’t miss a big move up from the current bottom. Look,” he said. Ether did not do too well, falling below $1,550 for the first time in a week. By market value, he’s the second-largest cryptocurrency, down 5.7% since Monday at the same time. Other major cryptocurrencies fell later in the day, with popular memecoins DOGE and SHIB down more than 7% and 8% respectively, and ADA down 8%. The CoinDesk Market Index (CDI), a metric that measures cryptocurrency performance, has recently fallen by around 4%.
