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It would seem that the near annual crash of Bitcoin has wreaked havoc among many popular alt coins on the market, Ellaism included. While other coins like PIRL fought their way back with minimal loss, Ella is still fighting to regain it’s composure.
Before the crash, Ellaism was sitting pretty trading around $4.00 USD on the 10th of January. Unfortunately after the crash Ella is seemingly being drained of value. At the time of this writing Ellaism is currently being traded at a mere $1.52 USD.
With talks of regulating the cryptocurrency industry overseas the market has been shaken by the government. This has caused traders to panic and sell their current stock of cryptocurrency. When everyone want’s out, the only direction we can go is down.
Many in the Ellaism community believe this is simply a temporary dip in price which will regulate in the end, settling on an end price of around $2.00 per coin. However, the panic is still present even in the resolute Ella community.
Frustrations are still present currently in the Ellaism trading channel with members stating they refuse to mine anymore due to the fall. Some wondering if the coin will recover from this dip in price.
We think Ella will recover, and we say this because of the team behind the project. Simply put, Ellaismer delivers. Not only the development team and their plan for the future, Ellaism has a solid community behind the coin which is reassuring to us.
I personally will continue to hold my Ella and wait for the “over valued” price of $4.00 to return, it could happen.
What are your thoughts on the Ellaism project? Do you think Ellaism will recover from the crash or will the price of Ella continue to drop over time? Let us know in the comments or come join us on our discord by clicking the link at the top of the page!