At the time of writing, Bitcoin is trading at $6443.20, while Ethereum (ETH) is priced at $219.54, according to www.coindesk.com.
The ETH price has remained volatile since the heavy bear market began in early September.
From the September 2 price of $295, the cryptocurrency lost over 40 percent of its value, to the low, $167 on September 12.
This has been interpreted as a failure by buyers to reverse losses made in the week ending September 9.
Ethereum is set to see a rend reversal and rally strongly
Fundstrat’s head of research Tom Lee
This bearish trend is echoed across the crypto market.
Some experts have interpreted Bitcoin tumbling under the $6,500 price level as a short to mid-term bearish signal, which belies key industry leaders' anticipation that prices will increase in the next few months.
However, investors remain hopeful that bitcoin adoption could kick into high gear, owing to developments in the Lightning Network, which enables blockchain transactions.
This makes a layer on top of the blockchain, where smaller transactions can be passed back and forth before being