Ethereum has recently taken hits along with the rest of the wider market. Numerous market dips and crashes have seen the digital asset crashing back down below $3,000 in recent weeks and this has left ETH in a struggling position. With momentum down, it looks like the market is headed for another bear market as cryptocurrencies are now recording lower lows and lower highs with each dip and recovery.<\/p>\n
Related Reading |\u00a0JPMorgan Analysts Say That Big Money Are Dumping Bitcoin For Ethereum<\/a><\/strong><\/em><\/p>\n The asset had dropped below the $2,700 price range for the first time in a two-month period. And the September slowdown has caused recovery trends to fall short of expectations. Despite this, crypto analyst Lark Davis does not believe the asset should be counted out just here. Pointing to some interesting exchange reserve metrics, the analyst believes that Ethereum could very well be on the verge of an explosion.<\/p>\n Declining exchange reserves volume has been reported upon recently. This is not peculiar to Ethereum alone. Data shows that in addition to ETH, Bitcoin exchange reserves have also plummeted in the past couple of months<\/a>. This goes against the grain of how bull markets have operated in the past. With each past rally have come increased exchange reserves as investors moved their assets onto centralized exchanges to sell and take profits. But 2021 has been the year of the unexpected in the crypto market.<\/p>\nExchange Reserves Drop 15%<\/h2>\n
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