The price of Ethereum's native token, (ETH), careened below $1,000 on June 18 as the ongoing sell-off in the crypto market continued despite the weekend. Ether reached $975, its lowest level since January 2021, losing 80% of its value from its record high in November 2021. The decline appeared amid concerns about the Federal Reserve's 75 basis points rate hike, a move that pushed both cryptocurrencies and stocks into a strong bear market. "The Federal Reserve has barely started raising rates, and for the record, they haven't sold anything on their balance sheet either," noted Nick, an analyst at data resource Ecoinometrics, warnings that "there is bound to be more downside coming."
Ethereum's implosion continues Investors and traders have been anxiously watching Ether's price in recent days, fearing a decisive breakdown below $1,000 would trigger the forced liquidations of massively leveraged bets. In turn, that would put more downside pressure on Ethereum. The fears appear due to Babel Finance and Celsius Network, a pair of crypto lending platforms that halted withdrawals citing market volatility. They intensified further after Three Arrow Capital, a crypto hedge fund managing $10 billion worth of assets as of May, failed to shore up its collateral to cover pungent bets. This came less than a month after Terra, a $40 billion "algorithmic stablecoin" project, collapsed. At Ventura Wealth Club, our crypto based system (VBNS) profits and capital are fully unscathed by these harsh bearish conditions. In recent times we have seen competitors block clients from withdrawing as well as some losing all their capital due to poor risk management and unbalanced portfolios. This month (June 2022), despite crypto being down over 50% YTD, Ventura Blockchain Noding System is onto to attain its members a 9% ROI. In times like this, companies who are scraping to maintain their results and are ultimately propped up by manipulative marketing will always fail, giving investors the opportunity to find the genuine service providers who will go on for years to come earning stable and great profits. At Ventura Wealth Club this is the foundation of our enterprise – we provide investors with medium level risk opportunity, whilst being completely transparent with how and where we are profiting. Giving you, the investor, faith in us.