Is the ICO and downfall of ethereum price related?
We have seen several panic selling in the recent past, the last one in this month, i remember, was related to the coinbase server problem but then the price started growing back.
Now with the ICO huge amount has come in into projects like Bancor and several others. Though roughly 20-30 % of this money raised goes to the developer and some amount to marketing and development . But i feel the ICO and eth price fall are related some way. What do you think?
I even read somewhere that this price fall is once again due to panic selling that triggered from the death hoax of Vitalik Buterin - co founder of Ethereum
well, people do need to buy ETH to invest in ICOs requiring ETH.
and once an ICO is finished, some of that ETH raised might be converted back into fiat or other crypto. though you can never be sure how much, and whether that drop in the bucket would affect ETH price that greatly...