Market Snapshot – Markets Quiet, Ethereum Crashes

Stock Markets Consolidate

The stock markets continue to struggle to make any significant gains as the situation has been over the last few days. Though it is clear that the ECB is as close to tapering as ever before, reports and news do come out once in a while that the tapering may not come about as soon as the markets expect it to and this has led to burst of buying. But this cannot change the base fact that the tapering is very much on the cards in the months ahead and it is just a matter of when than how. This is the reason why the investors are reluctant to push through and invest too much into the stock markets at this point of time. The FTSE and the DAX continue to consolidate and range for today as well, with not much progress being made.

Ethereum Crashes on Panic

Ethereum prices continued to crash for the second day yesterday as the prices pushed below $200 and the drop does not seem to have any end in sight. The investors seem to be losing confidence in this cryptocurrency after the flash crash a couple of weeks back. It is easier for fiat currencies to recover from such crashes but not so for new instruments and this is the reason why we are seeing the gradual sell off happening in ethereum and this is likely to continue in the short term as the boost in confidence needs to come from somewhere before the buying comes from somewhere.