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Ethereum price drops to a 7-month low as data points to more downside

October 13, 2023


Ether price experienced a 7% decline between Oct. 6 and Oct. 12, hitting a seven-month low at $1,520. Although there was a slight rebound to $1,550 on Oct. 13, it appears that investor confidence and interest in Ethereum are waning, as indicated by multiple metrics.

Some may argue that this movement reflects a broader disinterest in cryptocurrencies, evident in the fact that Google searches for “Ethereum” have reached their lowest point in three years. However, Ether has underperformed the overall altcoin market capitalization by 15% since July.

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