TECHNOLOGY

Ethereum Is Trading at Its Lowest Level

It’s not looking good for the cryptocurrency.

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BY Jonathan Garber - 11 Jul 2017

PHOTO CREDIT: Getty Images

Ethereum is under pressure on Monday. The cryptocurrency is down 9.9%, at $215 an ether, and is trading at its lowest level in more than a month.

The cryptocurrency has had a rough go of things as of late. It has fallen more than 45% since reaching a record high of nearly $400 on June 13 amid chatter of a cryptocurrency bubble.

First, the tech billionaire Mark Cuban suggested that Ethereum's rival, bitcoin, was in a bubble.

"I think it's in a bubble. I just don't know when or how much it corrects," he tweeted. "When everyone is bragging about how easy they are making $=bubble."

Then, Jeffrey Kleintop, Charles Schwab's chief global investment strategist, suggested bitcoin was in a bubble unlike any we had ever seen before.

And while things are looking a bit frothy over the near term, the prospects for Ethereum look brighter over the longer term.

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This post originally appeared on Business Insider.